Grubb & Ellis is predicting a slight increase in the office space vacancy rate and a slight decrease in office space absorption rates for the metro Milwaukee area in its 2009 Real Estate Forecast.
"Look for the Milwaukee office market to witness little change in 2009, with many downtown and suburban tenants weathering the storm by signing short-term renewals when possible," the report states. "The downtown market will continue to see the most competition amongst existing landlords and developers, all vying for the same anchor tenants, while actively seeking to attract new ones."
