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Market Trend: Milwaukee's Mid-Year Industrial Deliveries, Construction and Inventory

September 14, 2017
During the second quarter 2017, eight buildings totaling 703,760 square feet were completed in the Milwaukee market area. This compares to five buildings totaling 235,775 square feet that were completed in the first quarter.

There were 1,922,510 square feet of Industrial space under construction at the end of the second quarter 2017.

Some of the notable 2017 deliveries include: Alliance Laundry Distribution Center on N Douglas St in Ripon, a 210,000-square-foot facility that delivered in second quarter 2017 and is now 100% occupied by its owner; and 399 E Morrissey Dr, a 200,000-square-foot building that delivered in second quarter 2017 and is also 100% owner-occupied.

The largest projects underway at the end of second quarter 2017 were Oshkosh Cold Storage, a 443,747-square-foot building that will be occupied by its owner on completion and Main St & Old Orchard Rd, a 400,000-square-foot facility that is still in the process of pre-leasing.

Total Industrial inventory in the Milwaukee market area amounted to 323,465,569 square feet in 7,885 buildings as of the end of the second quarter 2017. The Flex sector consisted of 45,622,131 square feet in 1,340 projects. Within the Industrial market there were 686 owner-occupied buildings accounting for 60,716,961 square feet of Industrial space.

This trend is compared to the U.S. National Industrial deliveries, which saw 537 buildings totaling 64.42 million square feet completed in the second quarter, with 272.4 million square feet of industrial space still under construction across the country. Total Industrial inventory in the U.S. market area amounted to almost 22.2 billion square feet across more than 643,700 buildings, including 92,000 flex projects and 72,000 owner-occupied buildings.

The information in this news report is based on CoStar’s Second Quarter 2017 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.

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