Milwaukee Industrial Figures Q4 2025

- In the Milwaukee Industrial market, there was 1.1M sq. ft. of positive net absorption in Q4. Year-to-date, the market has absorbed 4.9M sq. ft., a 51% increase from 2024.

- Following three-consecutive quarters of high absorption rates, the market vacancy rate decreased to 4.8% in Q4, down 70 bps from the previous year.

- The construction pipeline delivered 279k sq. ft. of new construction in Q4. This brings the YTD total to nearly 2.9M with an additional 2.3M sq. ft. of developments underway. There were two projects started in Q4, totaling 125,400 sq. ft. combined.

- Leasing activity in the market, inclusive of all sizes, totaled 3.2M sq. ft. Leasing in 2025 exceeded 10.5M sq. ft, the highest annual volume since 2022. Large leases, over 300,000 sq. ft., drove demand this year, increasing in volume by 173% from 2024.

- Investment sales volume totaled $128M in Q4 2025, bringing the YTD transaction volume to $648M. Annual sales volume increased by 29% year-over-year. The largest investment sale of the quarter was the Furlani Foods campus in Oak Creek sold to Broadstone for $46.3M.