Milwaukee Office Figures Q2 2026

- The Milwaukee office market recorded 141,000 sq. ft. in Q2, bringing the annual market absorption to 92,000 sq. ft. in the first half of the year.

- Market vacancy was 18.7%, a decrease of 60 bps from the previous quarter, with Class A product seeing the largest decline in overall vacancy this quarter.

- The average FSG direct lease rate was $21.77 across the full market, demonstrating a 0.5% increase year-over-year. Class A rates reported at $24.07, with Prime assets reporting a premium averaging $34.26 and Class B with rents at $19.91 in Q2.

- Leasing activity (greater than 10,000 sq. ft.) reached 110,000 sq. ft. in Q2, a 23% increase year-over-year. Year-to-date, the average lease area increased by 13% from the previous year, a signal that tenant footprints are stabilizing.

-The quarterly office sales volume was $68.1 million in Q2, bringing the year-to-date volume to $114 million transacted. The largest transaction in Q2 was part of the multi-state Truist Financial Corporation portfolio, an investment sale of 100 Woodland Prime in Menomonee Falls.