2025 Mid-Year Market Summary
Presented by Jack Russell and Luke Russell
The Industrial Real Estate Market in SE Wisconsin just capped a performance for the first half of 2025 with a total space absorbed through 2 quarters as just above 1.1 million square feet compared to 2.0 million through Q2 in 2024.
Market pricing on both the sale and leasing side has firmed up, modern supply has stayed low but is improving, and interest rates have settled.
Mid-Year 2025 – The Data
- 1.1 million square feet of space absorbed in SE Wisconsin in Q2 of 2025.
- Overall Vacancy Rate Tracking at 6.2%. This is historically a low vacancy rate!
- Sheboygan County at 0.5%, Walworth County at 0.6%, and Waukesha County at 1.8% are the top performing sub markets.
Mid-Year 2025 – The Trends
- More industrial product is hitting the market this year than last, and with more consistent interest rates, buyers are able to make more informed decisions on their real estate needs.
- The owner/occupant market for properties 15,000 SF and less has remained strong, and properties that are priced correctly are moving quickly.
- Tariffs have been the biggest topic of 2025, and as we have gotten more clarity on those the industrial market has begun to pick back up for owner-occupants with business as usual.
Mid-Year 2025 – The Forecast
- With owner/occupants of all sizes continuing to look for new facilities and industrial inventory improving, but still low, it is a great time for anyone considering selling their building to sell.
- The current administration is trying to get interest rates lowered, which could help create an even more favorable market for sellers and bolster the market for the 2nd half of the year.
- Construction prices continue to remain high, so expect buyers to look for existing facilities to meet their growing needs.
Greater Milwaukee Q2 2025 Reports
Local Market Industrial Report
Local Market Office Report
Recent Deals
Delivering Results with Challenging Assets
Matt Judson and Cole Russell were brought in to market a unique investment portfolio consisting of multiple buildings over two tax parcels next to each other. The portfolio sat unsold on the market with another firm for over a year. The sellers then selected Judson and Associates, S.C. based on the firm's strong reputation in Waukesha and proven ability to deliver results on challenging assets.
Matt and Cole immediately went to work by strategically leasing two vacant units in order to strengthen the property's income profile and marketability. Their proactive approach paid off, generating interest from multiple buyers. After competitive offers were submitted, one ultimately stood out and aligned with the seller's goals. A successful closing delivered a great outcome for the Seller and their family, and we couldn't be happier for them — congratulations!
Riot Dance Coming to Meadowbrook Market Place
Over a year ago, Rio reached out with a dream: to open her very first dance studio. Colleen Geiger was determined to help her find the perfect space to bring her vision to life. Despite a challenging market and a continual lack of inventory, we stayed patient and persistent, never losing sight of the goal. After months of searching and countless showings, the right location was found at 821 Meadowbrook Road — a space with the potential to become a vibrant hub for movement and creativity. The journey didn't stop there, as a myriad of conversations with contractors and the listing agent required time and more persistence, but in the end, a lease was signed, and Rio secured her dream spot. This marks the beginning of an exciting chapter for Rio and her studio, Riot Dance. Colleen is incredibly proud to have been part of her journey, and we all wish her nothing but success.
New Berlin Land – Build to Suit
Matt Judson and Cole Russell are pleased to announce the sale of 51 acres parceled off on the corner of S Calhoun Road and Coffee Road in New Berlin. Purchased by a developer/construction company that has been a leader in the Greater Milwaukee area for over 95 years, we are partnered with the new owner to offer a Build to Suit leasing or buying opportunity for your business. The site can accommodate a variety of sizes in the industrial sector while providing a private campus feel with surrounding trees. The prime corner lot could also appeal to a variety of retail users. Call us to inquire about turning your commercial building dreams into reality in New Berlin.
New Properties For Sale or Lease
6 Retail/Office Investment Properties in Oconomowoc
Sale Price: Contact Us for More Information
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+/- 198 Acres North of I-94, Concord
Development Opportunity
- +/- 198 Acres Just North of I-94 at Hwy F with Considerable Frontage Along Cty Rd B
- Traffic Count: 49,200 Vehicles Per Day Along I-94 (WI DOT)
- Zoned A1
- Currently Produces Income from Residential Rental, Cell Tower and Farming
Sale Price: Contact Us for More Information
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3620-3630 W Wheelhouse Road, Milwaukee
56,790 SF Industrial Building on 3.328 Acres for Sale or Lease
- 3 Cranes
- 2 Drive-Ins
- 2 Docks
- 26′ Clear Height
- Zoning: IH Industrial Heavy
- Precast Construction with Reinforced Floors
Sale Price: $6,000,000
Lease Rate: $8.35 PSF NNN
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347 E Ward Street, Milwaukee (Bay View)
Beautifully Updated and Unique Mixed-Use Property in Bay View for Sale!
- 8,896 SF
- 1 Dock
- Sprinkler System
- LED Lighting
Sale Price: $1,350,000
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N52 W5338 Portland Road, Cedarburg
34,215 SF Industrial Building for Sale
- 25,881 SF Available for an Owner/User
- 3 Drive-Ins (More Possible)
- 1 Dock
- Zoning: M1 Limited Manufacturing District
- Sprinkler System
Sale Price: $2,000,000
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New Construction Hwy 164 & ES, Big Bend
Brand New Construction Retail/Office Spaces for Lease
- 1,500 SF up to 8,500 SF Available
- Heavily Trafficked Corner Just North of the I-43 On-Ramps at Hwy 83
- Estimated Delivery: Spring 2026
Lease Rate: $17.00 PSF NNN
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N28 W23050 Roundy Dr, Ste 100/Unit 2-101, Pewaukee
Exceptional Office Condominium in a High Visibility Location.
- 5,629 SF of Well Maintained and Updated Office Space
- Includes Use of the Complex's Common Conference Room or Training Area
Sale Price: $750,000
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1275 E Wisconsin Avenue, Unit D, Pewaukee
1,991 SF Industrial Space for Lease
- Located 3/4 Miles Southeast of the Hwy 16 & Capitol Dr Intersection
- 1 Drive-In
- Clear Height: 11′
Lease Rate: $1,660/Month NNN
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N30 W23377 Green Road, Unit A, Pewaukee
10,619 SF Industrial Space for Lease
- +/- 4,290 SF Office / 6,329 SF Warehouse
- Clear Height: 17′
- 1 — 8′x10′ Dock
- 2 — 12′x14′ Drive-Ins
- Outside Storage Possible with Fenced-in Gated Yard
Lease Rate: $6,850.00/Month
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