The Milwaukee Industrial market ended the third quarter 2011 with a vacancy rate of 7.5%.
The vacancy rate was down over the previous quarter, with net absorption totaling positive 736,203 square feet in the third quarter. Vacant sublease space decreased in the quarter, ending the quarter at 190,051 square feet.
Tenants moving into large blocks of space in 2011 include: Schoeneck Containers Inc moving into 225,000 square feet at 11100 W Burleigh St - Building A, Serigraph moving into 222,000 square feet at 820 E Washington St, and Diversey Inc moving into 153,000 square feet at 7505 Durand Ave.
Rental rates ended the third quarter at $4.19, a decrease over the previous quarter.
A total of one building delivered to the market in the quarter totaling 100,000 square feet, with 557,110 square feet still under construction at the end of the quarter.
This trend is compared to the U.S. national industrial vacancy rate, which decreased to 9.6% from the previous quarter, with net absorption positive 43.11 million square feet in the third quarter.
The information in this news report is based on CoStar’s Third Quarter 2011 Market Report, a 40+ page comprehensive research report available to CoStar subscribers. To learn more about quarterly research reports and other benefits available to CoStar subscribers, please call 888-226-7404.