Milwaukee Apartment Market on Track to Post Another Strong Year in 2016

We can expect to see a combination of new and familiar trends in the Milwaukee apartment sector in 2016 that will continue to attract investors to the local apartment market.What makes the start of 2016 different from 2015 is progress toward the normalization of monetary policy. In December, the Federal Reserve Board decided to raise the federal funds rate by a quarter percentage point, the first such increase in nearly a decade.The Federal Reserve Board’s widening may have an impact …

Milwaukee Industrial Market Is Primed for New Round of Development

Metropolitan Milwaukee has experienced a robust industrial real estate market for the past several years. This strength should continue in 2016 and for the foreseeable future.Like many other metro areas, Milwaukee’s industrial sector experienced slow but steady economic growth as it emerged from the Great Recession. However, unlike many other metro areas, Milwaukee has not yet exhibited a strong uptick in new industrial development. Minimal speculative construction has occurred during the …

Downtown Milwaukee Continues Its Hot Streak, but Will It Cool in 2016?

[caption id="attachment_144687" align="alignright" width="100"] John Mazza,CBRE[/caption]The long-held perception of the Milwaukee office market is that it mostly trades tenants between buildings with one landlord winning at the other’s expense, while the overall pie remains the same size.However, with cranes dotting the horizon, large blocks of vacant space quickly leasing up, a number of major new developments waiting to break ground, and the inflow of outside dollars into …

Variety of Retail Construction Ramps Up Across Greater Milwaukee

[caption id="attachment_140665" align="alignright" width="100"] Peter Glaser,CBRE[/caption]Milwaukee is in the midst of a new construction boom in the retail sector, with three major projects currently underway and a fourth that was delivered in 2014 for a total of more than 1.1 million square feet of new space in the market. The majority of this space is being delivered fully leased.In many cases, these retailers are brand new tenants to the Milwaukee area.In the second quarter, …

Proposed New Arena for Milwaukee Bucks Could Lead to Development Run

[caption id="attachment_137073" align="alignright" width="100"] Regina Levchets, JLL[/caption]An article highlighting the fortunes of the Milwaukee Bucks that appeared July 6 on couldn’t be more accurate. “There’s something powerful and sustainable growing in Milwaukee, rising out of the weeds of small-market irrelevance and into a team you’re going to want to watch next season,” wrote Matt Moore who covers the NBA.Since New York hedge fund investors Wes Edens …

Private, Public Sector Come Together to Revitalize the Brew City's Downtown

Manufacturing, beer and the Green Bay Packers are typically the three things that come to mind when one thinks of Wisconsin. Although we will always love beer and our Green Bay Packers, the real estate landscape is changing. During the past decade — and even more so over the past few years — Milwaukee has begun its transformation into a hip and vibrant city and is making its mark in progressive green technologies, water research and startups. As Steve Palec, managing principal of …

Expect Milwaukee's Industrial Recovery to Broaden This Year

The industrial real estate market in Southeast Wisconsin continued its climb upward during 2012 as the overall vacancy rate fell from 7.1 percent to 6.5 percent. The result was positive net absorption of 3.6 million square feet for the year. This trend marks two-and-a-half straight years without a quarter of negative absorption. Seven of the eight counties in the Milwaukee industrial market area posted a reduction in vacancies during 2012. In Kenosha County, for example, the vacancy rate …

Tenant Activity Begins to Percolate

A rise in office-using employment and corporate profits has benefited underutilized Milwaukee space and spurred some companies in the metro area to expand their space needs. Several leases above 30,000 square feet were finalized in the first half of 2012. The accounting firm Baker Tilly Virchow Krause LLP took 68,000 square feet. Healthcare information systems provider Connecture Inc. inked a deal for 32,200 square feet. Marshall & Swift/Boeckh, a provider of building cost data and estimating …

Food industry absorbing space in Milwaukee.

Milwaukee ended 2011 with its sixth consecutive quarter of positive net absorption and more than 3 million square feet of absorption for the year. Xceligent Inc. reported that the Milwaukee industrial market ended 2011 with a vacancy rate of 7.6 percent, down from 8.6 percent at the end of 2010. The national industrial vacancy rate by comparison ended 2011 at 9.9 percent, according to CoStar Group. Hungry for space Of the 67 national industrial markets tracked by Cassidy Turley, 59 recorded …

Actual rents increase at some properties.

The Milwaukee apartment market continues to enjoy higher occupancies, less concessions and yes, some actual rent growth. The market saw less available units in recent years. As the old law of supply and demand dictates, that drop in the number of available units has led to a significant reduction in concessions, thereby increasing effective rents. In some cases, not only was there an increase in effective rents, but in actual rents at some properties and within certain markets. What are the …

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