Contact:
Sarah Grace Pugh
Public Relations Specialist, Midwest
(205) 510-9139
MILWAUKEE, Dec. 2, 2024. — Marcus & Millichap (NYSE:MMI), has published its Milwaukee Retail Market Report for Q4 2024.
“The Milwaukee retail market is showing resilience, with rental growth and stable demand providing opportunities for investors in the region,” stated Todd Lindblom, first vice president and regional manager.
Marcus & Millichap’s Milwaukee Retail Market Report for Q4 2024 report provides investors with vital insight and analysis on the current state of the Milwaukee retail market sector, including:
- Positive Employment Trends: The metro area added 4,000 jobs in 2024, highlighting economic stability and an improved labor market.
- Moderate Vacancy Increase: Retail vacancy rates are forecasted to increase by 0.3% to 4.3%, a level that still reflects strong occupancy relative to historical trends.
- Rental Rate Growth: Average asking rents rose to $15.02 per square foot, a 4.3% increase, driven by strong leasing activity.
- Supply Challenges: Milwaukee is projected to see a net loss of 260,000 square feet of retail stock, reflecting limited new construction and selective redevelopment efforts.
- Steady Investment Climate: Despite challenges, average retail property prices remained steady, reflecting ongoing investor confidence in the Milwaukee market.
“These findings underscore the long-term value of Milwaukee’s retail assets for both local and national investors,” added Lindblom.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
If you’re interested in more research reports covering over a dozen property types, visit Commercial Real Estate Research | Marcus & Millichap (marcusmillichap.com).
