Milwaukee Office Figures Q4 2025

- The Milwaukee office market experienced it’s fourth consecutive quarter of positive absorption at 57,310 sq. ft. Year-to-date the market has absorbed 154,444 sq. ft., marking the first year of positive absorption in three years.

- In Q4 2025 the Milwaukee market vacancy rate was 18%, a decrease of 10 bps from the Q3 value of 18.1%. Class A office space experienced the largest change in vacancy, declining 40 bps down to 22.6% in Q4.

- The Milwaukee asking rates stabilized in Q4, ending the year with a market average asking rate of $21.76. This rate is 1.9% higher than the five-year average of $21.36.

- In Q4 Milwaukee had 141,788 sq. ft. of total leasing activity, inclusive of all sizes. This represents a 51.4% decrease from the previous quarter and a 48.8% decrease year-over-year.

- Annual office sales volume grew to $313 million in 2025, a 19% grow over the previous year and 34% above to the market’s three-year average volume.