Tenants and Investors Looking Across the Illinois Border
How hot is the Southeast Wisconsin submarket? Cushman & Wakefield industrial broker Whit Heitman put it this way: two counties alone, Kenosha and Racine, make up approximately 50M SF of industrial space, with a vacancy rate of just over 3%. Of all the Chicagoland submarkets, this is the tightest market with the lowest vacancy rate. The biggest business park in the area is the LakeView Corporate Park in Pleasant Prairie, where there is approximately 10M SF of industrial product, and the vacancy rate in the park is currently 1.75%. The SE Wisconsin market consistently absorbs between 2M and 3M SF of industrial space annually, and as a result developers are seeking land positions. For more info on our Bisnow partner, click here.