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CARW/Xceligent 3Q 2012 Commercial Real Estate Market Report

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CARW/Xceligent 3Q 2012 Commercial Real Estate Market Report Powered By Docstoc
					For Immediate Release: October 15, 2012
For More Information, Contact: Jim Villa – CARW: (414) 271-2021/Joe Doyle – Xceligent: (262) 613-9878


             CARW/Xceligent 3Q 2012 Commercial Real Estate Market Report
Milwaukee. Commercial real estate markets in Southeastern Wisconsin continue to see a positive trend as
absorptions increase and vacancies decrease according to commercial real estate market reports for the third
quarter of 2012 released today by CARW and Xceligent.

Industrial absorption in the quarter was 1,697,721 SF, the 8th straight quarter of positive industrial absorption
in the region, and the fifth of those eight to exceed 750,000 square feet. The overall vacancy in the segment
dropped to 6.7% (from 7.5% at 3Q of 2011).

Milwaukee Industrial Q3 / 2012




                                                                                       Total       Total        YTD Total
                            # of                     Total Available   Total Vacant
                                    Inventory (SF)                                    Vacancy     Quarterly       Net
                           Bldgs                           (SF)            (SF)
                                                                                      Rate (%)   Absorption    Absorption
      Flex                 1,013    44,986,642           4,467,971       3,179,093       7.1%        202,048     591,643
      Whse/Distribution      696    65,185,625           8,527,758       6,451,104       9.9%        696,938   1,134,764
      Manufacturing        2,634   156,122,000          11,073,750       8,148,874       5.2%        798,735   1,440,773
      Grand Total          4,343   266,294,267          24,069,479      17,779,071       6.7%      1,697,721   3,167,180


“Eight straight quarters of positive industrial absorption with all signs pointing to the continuation of that
trend is an extremely strong indication that the recovery is taking root here,” said Jim Villa, President & CEO of
CARW.”
                                                    -- Continued --
CARW/Xceligent
October 15, 2012
Page 2


The office market increased 85,410 SF from last quarter with total positive absorption of 247,874 SF for the
year and a vacancy rate of 20.0%, down from 21.0% (4Q-2011).


Milwaukee Office 3Q/2012




                                                   Total                    Total      Qtrly Net    YTD Total
                                    Inventory                  Total
                       # of Bldgs                Available                 Vacancy    Absorption      Net
                                       (SF)                  Vacant (SF)
                                                    (SF)                   Rate (%)      (SF)      Absorption
               A              129   12,177,562   2,120,739   1,832,153       15.0%       14,262       79,228
               B              265   14,719,509   3,993,462   3,612,084       24.5%       73,331      156,632
               C               25    1,089,489    172,363      161,829       14.9%        -2,183      12,014
         Grand Total          419   27,986,560   6,286,564   5,606,066       20.0%       85,410      247,874


“The Central Business District (57,194 SF absorption) outperformed the Suburban markets (28,216 SF
absorption) for the fourth time in the last five quarters,” said Joe Doyle of Xceligent, Inc.

The retail market in Southeastern Wisconsin, because of new construction of large retailers this segment, saw
a strong increase in absorption; there was 338,606 SF in new construction; 150,900 SF Target at Underwood
Crossing; 147,806 SF Wal-Mart at Timmerman Plaza; and a 39,900 Wal-Mart Neighborhood Market at 7025
Main St, Milwaukee. Overall there was absorption of just under 186,000 SF and a vacancy rate of 9.6%.




                                                     -- Continued --
CARW/Xceligent
October 15, 2012
Page 3


Milwaukee Retail Q3/2012




                                                                                          Quarterly    YTD Total
                                                      Total                    Total
                                # of    Inventory                 Total                     Net          Net
                                                    Available                 Vacancy
                               Bldgs       (SF)                 Vacant (SF)              Absorption   Absorption
                                                       (SF)                   Rate (%)
                                                                                            (SF)         (SF)
              Regional Ctr       10     7,344,741    963,873      963,873      13.1%        12,093       39,557
              Neighborhood
                               161     14,463,110   1,937,074   1,734,399      12.0%       137,678      128,301
              Ctr
              Conv/Strip Ctr    75      3,576,112     463,294     440,746      12.3%      (23,946)     (15,230)
              Power Ctr        190     17,263,589     966,107     900,107       5.2%     (100,588)     (23,616)
              Community Ctr     67     11,560,791   1,362,713   1,153,538      10.0%       160,679     (17,895)
              Grand Total      503     54,208,343   5,693,061   5,192,663       9.6%       185,916     111,117




                                                      -- Continued --
CARW/Xceligent
October 15, 2012
Page 4

CARW/XCELIGENT REPORTS
The market reports are produced in collaboration by CARW and Xceligent under the direction of an advisory
panel of CARW member commercial real estate professionals. Distinguished panel members include:


                 OFFICE                           INDUSTRIAL                              RETAIL
            ADVISORY BOARD                      ADVISORY BOARD                       ADVISORY BOARD

Jim Cavanaugh                       Jim Babiasz                          Tom Bruss
RFP Commercial                      Patrick Dedering                     Commercial Property Associates
                                    Boerke Company/Cushman Wakefield
John Mazza                          Alliance                             Peter Glaser
Grubb & Ellis/Apex Commercial                                            CBRE, Inc.
                                    Kevin Barry, CCIM, SIOR
Matthew Hunter                      Cassidy Turley Barry                 Kevin Riordan
Lyle Landowski, CCIM                                                     Boerke Company/Cushman Wakefield
Dan Wroblewski                      Mike Fardy                           Alliance
Colliers International WI           Jim Larkin
                                    Colliers International               Cory Sovine
Tim Janusz                                                               Siegel Gallagher
NAI MLG Commercial                  Adam Matson
                                    NAI MLG Commercial                   Kris Sydow
Andrew Jensen, SIOR                                                      Grubb & Ellis/Apex Commercial
David Pudlosky                      Paul McBride
Boerke Company/Cushman Wakefield    RFP Commercial                       Brian Vanevenhoven
Alliance                                                                 NAI MLG Commercial
                                    Brian Parrish
Joe Powers                          The Dickman Company                  Jim Villa
NAI MLG Commercial                                                       CARW
                                    Trent Poole
Ned Purtell, CCIM, SIOR             CBRE, Inc.
RFP Commercial
                                    Don Schmidt
Dan Walsh                           Judson & Associates
Siegel Gallagher
                                    Paul Galbraith
Bill Bonifas                        Cresa
CBRE, Inc.
                                    Jim Villa
Jim Villa                           CARW
CARW




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DOCUMENT INFO
Description: CARW/Xceligent 3Q 2012 Commercial Real Estate Market Report. Milwaukee. Commercial real estate markets in Southeastern Wisconsin continue to see a positive trend as absorptions increase and vacancies decrease according to commercial real estate market reports for the third quarter of 2012 released today by CARW and Xceligent Industrial absorption in the quarter was 1,697,721 SF, the 8th straight quarter of positive industrial absorption in the region, and the fifth of those eight to exceed 750,000 square feet. The overall vacancy in the segment dropped to 6.7% (from 7.5% at 3Q of 2011).