Build-to-suit and speculative construction continues to drive absorption
Heading into the final quarter of the year, the southeastern Wisconsin industrial market is positioned to maintain its streak of strong annual performance. The past three years, the market has realized over 4 million square feet of absorption annually, and with 2019 year-to-date absorption of just over 3.6 million square feet, the market is well positioned to again exceed this mark with a strong fourth quarter. Due to speculative construction delivering with available space, vacancy increased for the third straight quarter. However, absorption for the quarter remained high as a result of the completion and occupancy of a few major projects.