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The Dickman Company, Inc. is your source for industrial and commercial real estate in Wisconsin.
Specializing in:
• Sales & Leasing
• Investment
• Representation
• Development
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October 2011 - We are pleased to present the Southeastern Wisconsin 3rd Quarter 2011 Industrial Market Report and our analysis on the data.
Southeastern Wisconsin continued to experience positive quarterly absorption for a consecutive fifth quarter with nearly 1,280,000 square feet absorbed in the 3rd quarter 2011 and 2,870,000 absorbed year-to-date. As a result of the positive absorption the vacancy rate has dropped to 7.6% in the 3rd quarter 2011 from 9.2% in the 3rd quarter 2010. (Source: Xceligent/CARW).
Milwaukee and Waukesha Counties were responsible for the positive absorption for nearly 80% of the 2,870,000 square feet during the period. Kenosha and Racine Counties both experienced positive absorption of 81,527 square feet and 486,832 square feet respectively. While impressive, this data is less substantial than previous quarters that we have analyzed. Traditionally, Racine and Kenosha Counties compete for tenants that are corssing over from the Illinois border and will likely be the sites of the next speculative or build-to-suit developments in Southeastern Wisconsin.
With leasing and sales activity continuing to be on the rise late into the 3rd quarter, we expect these positive trends to carry over into the final quarter of 2011. We have noted that quality industrial space is being depleted in many of the more popular submarkets south of I-94 and west of I-45. Natural tensions between quality supply and increasing demand are causing a stabilization of lease rates that we have not seend for years.
The Dickman Company, Inc. will continue to monitor various market indicators to predict the short term direction of the market and serve as effective real estate advisors for our clients.
REPORTS
Q3 2011 Industrial Market Report
SubMarket Maps
To view past market data click here.
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