After a surge in absorption in the second quarter, absorption in the southeastern Wisconsin industrial real estate market slowed in the third quarter, but the market remains healthy and vacancies are increasing, according to the Wisconsin Association of Commerce’s latest market report. The rate has fallen slightly to 5.5%. (CARW) and Moody’s. The market absorbed 787,594 square feet of industrial land, and while total square footage was healthy, it was down significantly from approximately 2.2 million square feet in the second quarter. Year-to-date, the southeastern Wisconsin industrial real estate market has absorbed more than 2.9 million square feet of space. Approximately 3.7 million square feet of industrial land is currently under construction in southeastern Wisconsin, according to the report. The breakdown of industrial space vacancy rates by county for the second quarter is as follows: Walworth: 0.6% Waukesha: 0.8% Sheboygan: 1.2% Ozaukee: 1.7% Washington: 3.2% Milwaukee: 7.3% Racine: 8.0% Kenosha: 13.1% Here’s the breakdown for the second quarter. Quarterly industrial space absorption by county: Milwaukee: 346,627 square feet Waukesha: 227,417 Racine: 187,824 Washington: 41,024 Walworth: 25,000 Kenosha: 0 Sheboygan: 0 Ozaukee: -40,298 Here’s the breakdown of current industrial real estate: 1,331,119,119,119,119 square feet Milwaukee: 940,305 Washington: 610,650 Waukesha: 519,706 Racine: 452,352 Sheboygan: 49,500
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