The southeastern Wisconsin retail real estate market had a strong third quarter with positive net absorption of nearly 300,000 square feet of space, and its vacancy rate dipped from 6.9 percent in the second quarter to 6.4 percent, according to the third quarter market report by the Commercial Association of Realtors Wisconsin (CARW) and Xceligent.
The region’s retail space vacancy rate has been on a steady decline since it was at 8.3 percent in the third quarter of 2010.
Milwaukee County has a 5.8 percent retail space vacancy rate, and had positive net absorption of 182,337 square feet of retail space in the third quarter.
The retail space vacancy rates for other submarkets in the region are:
Waukesha County: 6.4 percent
Kenosha County: 7.8 percent
Walworth County: 5.0 percent
Racine County: 7.2 percent
Ozaukee County: 4.9 percent
Washington County: 7.9 percent
Sheboygan County: 7.4 percent