Wisconsin

By Jim Larkin, Kyle Fink and Dylan Brown, Colliers After several years of outsized growth, southeastern Wisconsin’s industrial market entered a more balanced phase to begin 2026. While headline metrics such as vacancy and absorption have shifted from their pandemic-era peaks, the underlying fundamentals remain intact. Based on what we are experiencing across active deals and client conversations, this is less of a slowdown and more of a recalibration, one that ultimately supports long-term stability across the region. After many years on an unprecedented pace, the market is settling down into a more disciplined environment where decisions are more thoughtful, and fundamentals are driving activity again. From our perspective, that’s a positive shift that positions southeastern Wisconsin for long-term stability. Year-end 2025 data points to a market that is adjusting, not retreating. Vacancy rates increased modestly, rising to approximately 7.8 percent across southeastern Wisconsin. At first glance, that shift may appear significant given how tight conditions had become. This shift is largely driven by new big box supply entering the market rather than weakening demand. With more than 3 million square feet delivered in 2025 — most started during peak market conditions — an increase in vacancy is a natural …