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paradigmre.com • info@paradigmre.com
MARKET UPDATE • Q1 2026
Waukesha County Industrial
Waukesha has the highest rents in the region
2.5%
Vacancy
▲ 60 bps YoY
$8.30
Avg Rent NNN
▲ 6.4% YoY
87.0M
SF Inventory
1,760 buildings
537K
SF Under Const.
344K delivered YTD
Waukesha vs. Southeast Wisconsin
— Waukesha has the highest rents in the region
VACANCY RATE
WAUKESHA2.5%
Walworth1.3%
Sheboygan1.7%
Washington4.1%
Ozaukee5.8%
Milwaukee7.0%
Racine8.9%
Kenosha10.0%
AVG ASKING RENT (NNN)
WAUKESHA$8.30
Sheboygan$7.95
Racine$6.96
Ozaukee$6.81
Washington$6.60
Kenosha$6.38
Walworth$6.04
Milwaukee$5.94
Notable Recent Sales
— Six Waukesha County industrial transactions, Q1 & early Q2 2026
| Property | City | SF | Sale Price | $ / SF | Closed |
|---|---|---|---|---|---|
| N8 W22100 Johnson Dr | Waukesha | 55,339 | $5,575,000 | $100.74 | May ’26 |
| 2500 S Calhoun Rd | New Berlin | 35,615 | $3,190,000 | $89.57 | Apr ’26 |
| 5600 S Westridge Dr | New Berlin | 19,200 | $2,775,000 | $144.53 | Apr ’26 |
| 24700 Corporate Cir | Sussex | 191,880 | $16,220,000 | $84.53 | Apr ’26 |
| W141 N9427 Fountain Blvd Sale-Leaseback | Menomonee Falls | 116,422 | $9,000,000 | $77.30 | Apr ’26 |
| N56 W24600 N Corporate Cir Sale-Leaseback | Sussex | 50,112 | $4,275,000 | $85.31 | Feb ’26 |
★ PARADIGM TRANSACTION SPOTLIGHT
N92 W15600 Megal Drive, Menomonee Falls
16,013 SF single-tenant Warehouse/Office building closed in Q1 — a highway-visible Menomonee Falls asset. PARADIGM Real Estate represented the buyer in the transaction.
SALE PRICE
$1,575,000
PRICE / SF
$98.02
CLOSED
Feb 2026
5-Quarter Trend
— Rents have climbed every quarter for a year
VACANCY RATE
AVG ASKING RENT (NNN)
What We’re Watching
— Capital events and demand drivers for Q2
Rockwell’s New Berlin Campus
Rockwell Automation selected New Berlin for a 1M+ sf “factory of the future” — part of a $2B manufacturing investment. One of the largest industrial footprint additions in Wisconsin this year.
Dynatect Sale-Leaseback
CIM Group acquired a 290,000 sf Dynatect Manufacturing portfolio including a New Berlin facility, with Dynatect signing a long-term leaseback.
Menomonee Falls Manufacturing Facility
A 100,000 sq. ft. former manufacturing facility was recently listed in Menomonee Falls — a rare availability for users in this size range in Waukesha County.