Milwaukee Retail Market Report
Sparse Deliveries Aid Operations as a Diverse Tenant Pool Leases Space
Vacancy rate descends in nearly every submarket. Milwaukee has logged four consecutive quarters of positive net absorption entering April 2022. The 915,000 square feet absorbed across that 12-month period was the largest total over a yearlong duration since 2017-2018, and almost every submarket chipped in. Milwaukee and Waukesha counties, the metro's two largest areas by inventory, contributed 70 percent of the market's absorption volume. At the same time, more than 100,000 square feet became newly occupied in both Ozaukee and Racine counties. This leasing activity is not tied to one specific industry, rather it stems from a diverse collection of retailers. In west suburbs like Brookfield and Wauwatosa, PGA TOUR Superstore, Bob's Discount Furniture and Ross Dress for Less recently moved in. South of here in New Berlin and Greenfield, Antique 2 Modern and Dollar Tree inked new leases.