PARADIGM Real Estate Corporation
paradigmre.com • info@paradigmre.com
11649 N Port Washington Rd, Suite 200, Mequon, WI 53092
paradigmre.com • info@paradigmre.com
11649 N Port Washington Rd, Suite 200, Mequon, WI 53092
Q1 2026 • INDUSTRIAL MARKET REPORT
Milwaukee County Industrial
Led Southeast Wisconsin in net absorption in Q1
7.0%
Vacancy Rate
▼ 80 bps year-over-year
$5.94
Avg Asking Rate NNN
▲ vs. $5.78 Q1 2025
+577K
SF Net Absorption
Only positive county in region
288K
SF Under Construction
Most new space delivered in region: 418,511 SF
Regional Context
Milwaukee County vs. Southeast Wisconsin
Under Construction (SF)
Washington
605K
Waukesha
537K
Kenosha
445K
Milwaukee
288K
Walworth
130K
Sheboygan
103K
Ozaukee
—
Racine
—
Vacancy Rate — Q1 2026
Kenosha
10.0%
Racine
8.9%
Milwaukee
7.0%
Ozaukee
5.8%
Washington
4.1%
Waukesha
2.5%
Sheboygan
1.7%
Walworth
1.3%
Vacancy & Rent by Property Type
Milwaukee County • Q1 2026 • All Properties
Flex / R&D
21.0%
Vacancy Rate
Asking Rate NNN
$7.56/SF
$7.56/SF
Manufacturing
7.6%
Vacancy Rate
Asking Rate NNN
$5.33/SF
$5.33/SF
Warehouse / Dist.
5.5%
Vacancy Rate
Asking Rate NNN
$5.56/SF
$5.56/SF
Warehouse / Office
6.0%
Vacancy Rate
Asking Rate NNN
$6.03/SF
$6.03/SF
Market Trends
Milwaukee County • Q1 2025 – Q1 2026
Vacancy Rate (%)
Avg Asking Rate NNN ($/SF)
Notable Recent Sales
Milwaukee County • Q1 2026 • Source: Moody's Analytics
| Property | City | Size (SF) | Sale Price | $/SF | Date |
|---|---|---|---|---|---|
| 9905–9941 S Ridgeview Dr 2-bldg campus | Oak Creek | 158,044 | $17,765,000 | $112.41 | Jan ’26 |
| 9630–9646 S 54th St | Franklin | 80,150 | $8,850,000 | $110.42 | Mar ’26 |
| 9001 W Flagg Ave | Milwaukee | 59,101 | $2,500,000 | $42.30 | Feb ’26 |
| 7221 W Parkland Ct PARADIGM Sale | Milwaukee | 42,550 | $2,105,000 | $49.47 | Mar ’26 |
| 7701–7715 N 67th St | Milwaukee | 26,266 | $1,332,000 | $50.71 | Mar ’26 |
| 11911 W Silver Spring Rd | Milwaukee | 21,863 | $4,100,000 | $94.77 | Mar ’26 |
★ PARADIGM CLOSED DEAL SPOTLIGHT
SOLD & LEASED
7221 W Parkland Ct — Milwaukee, WI
PARADIGM represented the buyer in the acquisition of this 42,550 SF manufacturing facility in Milwaukee’s established northwest industrial corridor. Simultaneously, PARADIGM represented a new tenant in leasing 100% of the property — creating a true win-win: the buyer acquired a fully occupied, single-tenant net leased asset from day one, while the tenant secured a well-positioned, long-term facility suited to its operational needs.
Building SF
42,550
Sale Price
$2,105,000
Price / SF
$49.47
PARADIGM Role
Buyer Rep & Leasing
What We're Watching
Krones Establishes North American Logistics Hub
Krones Inc., the Franklin-based packaging and bottling systems manufacturer, signed a 240,000 SF lease at 3617 W. Oakwood Road — a short drive from its North American headquarters. The building will function as the company’s centralized North American logistics hub, bringing warehousing and distribution under one roof with a greater level of automation. The transaction was the primary driver behind Milwaukee County’s +576,528 SF of positive net absorption — the only county in Southeast Wisconsin to finish Q1 2026 in the black.
PPC Flex Acquires Südpack Oak Creek Campus
An affiliate of PPC Flex Company Inc. of Buffalo Grove, IL purchased the former Südpack campus at 9905–9941 S Ridgeview Dr, Oak Creek for $17.765M ($112/SF), shortly after acquiring Südpack’s U.S. operations from the German parent company. The 158,044 SF, two-building property broadens PPC Flex’s domestic production capacity and positions it to grow its presence in the meat, cheese, and cold-seal flexible packaging categories.
Significant Space Still Available Across the County
Despite improving vacancy metrics, Milwaukee County still carries substantial available industrial inventory. As of Q1 2026, there are 11,289,524 SF of total available space across the county, with 8,720,767 SF currently vacant. Availability is most concentrated in Flex/R&D (727,215 SF available) and Manufacturing (5,429,107 SF available), providing well-located users a meaningful range of options across the county’s diverse industrial base.