3Q2017|Mi l wa uk e e|Offic e
Ma r k e tOv e r v i e w T heMi l wa uk e eoffic ema r k e tr e c or de d77, 961s qua r ef e e t( s f ) ofa bs or p ondur i ng3Q2017, downf r om129, 588s fr e c or de d dur i ng3Q2016. T het ot a l v a c a nc yr a t eha si nc r e a s e df r om 16. 5%t o16. 8%f r oml a s tqua r t e r . Di r e c tv a c a nc yr a t e s i nc r e a s e d40ba s i spoi nt st o16. 5%f r om3Q2016t opr e s e nt . We i g ht e da v e r a g er e ntg r owt hc on nue dt oi mpr ov edur i ng3Q 2017e s pe c i a l l yi nCl a s sApr ope re si nMi l wa uk e e– Downt ownE a s ta ndMa y f a i r . We i g ht e da v e r a g ea s k i ngr e nt si n a l l c l a s s e si nc r e a s e d5. 6%r e c or di ng$21. 04pe rs qua r ef oot ( ps f )F S Ga tt hec l os eof3Q2017c ompa r e dt o3Q2016. Cl a s sA we i g ht e da v e r a g er e nt si mpr ov e d3. 6%y e a r ov e r y e a r , r e c or di ng$24. 50ps fa tt hec l os eof3Q2017. Cl a s sBr e nt s i nc r e a s e d7. 8%y e a r ov e r y e a r , r e c or di ng$18. 10ps fa sof3Q 2017.
Ma r k e tHi g hl i g ht s T heMi l wa uk e eoffic ema r k e ts a wa nup c ki nt ot a l v a c a nc y , duepr i ma r i l yt oJ ohns onCont r ol sv a c a ng120, 000s fa tt he L y de l l Cor por a t eCe nt e ri nGl e nda l e . Out s i deoft ha t , t he ma r k e ts a ws t e a dyl e a s i nga cv i t y , wi t hmor et ha nha l foft he l e a s et r a ns a consr a ng i ngf r om2, 000s fupt o5, 000s f . De s pi t e a ni nc r e a s ei nov e r a l l v a c a nc y , t heme t r or e ma i nsop mi sc wi t ht woc ons t r uconpr oj e c t sc ur r e nt l yunde rwa yi nt heCBD, a ndonee x pe c t e dt obr e a kg r ounde a r l yne x ty e a r . Pr oj e c t e d offic ede v e l opme nt sc oul da ddov e r500, 000s fov e rt hene x t f e wy e a r st oac on nua l l ye v ol v i ngoffic ema r k e t .
S our c e : BL S
6. 0%
800 600 400
4. 0% 2. 0% J ul y2017
Apr i l 2017
F e br ua r y2017
Oc t obe r2016
De c e mbe r2016
Aug us t2016
J une2016
Apr i l 2016
F e br ua r y2016
De c e mbe r2015
Oc t obe r2015
J une2015
0. 0%
Ma r k e tRe c a p 28, 207, 625
I nv e nt or y( s f )
406
#ofBl dg s
77, 961
Qr t l yAbs( s f )
21. 5%
T ot a l Av a i l Ra t e
16. 8% 173, 50 0 0
T ot a l Va c a nc yRa t e U/ CI nv e nt or y( s f )
0
De l i v e r e d( s f )
$21. 04
We i g ht e dAv e r a g eAs k i ngRa t e( F S G)
Abs or p ona ndVa c a nc yRa t e T ot a l Qt r l yAbs
T ot a l Va c a nc yRa t e
15. 0%
100K 50K
10. 0%
0K 5. 0% 50K 0. 0% 3Q2016
3Q2017Ma r k e tT r e nds© 2017byXc e l i g e nt , I nc .Al l Ri g ht sRe s e r v e d.
Aug us t2015
200 Apr i l 2015
Ac c or di ngt ot heBur e a uofL a borS t a sc s , t heune mpl oy me nt r a t ef ort heMi l wa uk e eme t r opol i t a ns t a sc a l a r e a( MS A) de c r e a s e d90ba s i spoi nt sf r om4. 7%i nAug us t2016t o3. 8%i n Aug us t2017. Une mpl oy me ntr a t ef ort heUSwa sr e por t e da t 4. 4%i nAug us t2017, upf r om3. 4%f ort hes t a t eofWi s c ons i n. Whi l et heMi l wa uk e eMS As a wmi ni ma l j obg r owt hov e rt he pa s ty e a r , t hema r k e tl os ta ppr ox i ma t e l y1, 800offic eus i ngj obs ( i nf or ma on, pr of e s s i ona l a ndbus i ne s ss e r v i c e sa ndfina nc i a l a cv ie s )dur i ngt hes a mepe r i od.
Mi l wa uk e eE mpl oy me nt
F e br ua r y2015
E c onomi cOv e r v i e w
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
4Q2016
1Q2017
2Q2017
3Q2017
. . BUILDINGDATA.EVERYWHERE.
3Q2017|Mi l wa uk e e|Offic e Ov e r v i e wbyCl a s s( T ot a l ) Cl a s s
I nv e nt or y( s f )
Av a i l a bl e( s f )
Va c a nt( s f )
T ot a l
Qr t l yAbs( s f )
Y T DNe tAbs( s f )
A
12, 750, 405
2, 450, 748
1, 927, 349
15. 1%
677
105, 759
B
14, 330, 036
3, 453, 851
2, 726, 496
19. 0%
86, 181
61, 070
C Ov er a l l
1, 127, 184
161, 361
97, 253
8. 6%
8, 897
3, 529
28, 207, 625
6, 065, 960
4, 751, 098
16. 8%
77, 961
41, 160
Ov e r v i e wbyMa r k e t( T ot a l ) Ma r k e tNa me MKE 3r dWa r d
Cl a s s A B C S ubt ot a l A B C S ubt ot a l A B S ubt ot a l
Qr t l yAbs( s f ) 7, 312 21, 792 0 29, 104 20, 240 25, 174 4, 997 40, 417 0 8, 492 8, 492 3, 646 5, 883
Y T DNe tAbs( s f ) 3, 552 9, 818 4, 826 8, 544 58, 111 12, 837 1, 393 43, 881 0 31, 970 31, 970 72, 980 30, 344
33. 5% 20. 6%
0 2, 237
702 104, 026
28, 393 424, 293 0 452, 686
6. 3% 34. 0% 0. 0% 26. 5%
0 109, 313 0 109, 313
4, 122 129, 589 0 125, 467
268, 502 301, 819 0
179, 914 242, 026 0
16. 9% 38. 9% 0. 0%
7, 097 0 0
19, 675 31, 689 0
1, 720, 681
570, 321
421, 940
24. 5%
7, 097
51, 364
MKE S out hwe s t
B S ubt ot a l A
218, 916 218, 916 185, 711
67, 251 67, 251 40, 062
62, 038 62, 038 27, 602
28. 3% 28. 3% 14. 9%
8, 059 8, 059 0
17, 738 17, 738 694
103, 174
34, 354
31, 119
30. 2%
245
245
MKE W. Al l i s
B S ubt ot a l B
288, 885 1, 862, 548
74, 416 265, 654
58, 721 136, 768
20. 3% 7. 3%
245 1, 121
939 34, 266
C S ubt ot a l B C
87, 899
0
0
0. 0%
0
0
1, 950, 447 65, 721 223, 209
265, 654 0 0
136, 768 0 0
7. 0% 0. 0% 0. 0%
1, 121 0 0
34, 266 0 0
S ubt ot a l
288, 930
0
0
0. 0%
0
0
A S ubt ot a l
359, 896 574, 611 28, 207, 625
28, 116 55, 881 6, 065, 960
13, 585 38, 049 4, 751, 098
3. 8% 6. 6% 16. 8%
3, 551 4, 453 77, 961
1, 616 1, 275 41, 160
MKE DTE a s t
MKE DTWe s t
MKE Ma y f a i r
MKE Nor t hS hor e
MKE Nor t hwe s t
MKE S out he a s t
MKE We s t
Oz a uk e e Ov e r a l l
I nv e nt or y( s f ) 264, 664 1, 432, 647 297, 675 1, 994, 986 4, 729, 357 2, 050, 829 220, 660 7, 000, 846 905, 257 2, 150, 708 3, 055, 965 1, 426, 296 1, 256, 857
Av a i l a bl e( s f ) 53, 861 304, 980 47, 064 405, 905 838, 573 579, 572 46, 301 1, 464, 446 298, 467 284, 199 582, 666 265, 039 393, 627
Va c a nt( s f ) 44, 129 245, 501 41, 344 330, 974 641, 620 488, 751 15, 402 1, 145, 773 293, 064 173, 224 466, 288 228, 540 314, 822
C S ubt ot a l A B C S ubt ot a l
81, 655 2, 764, 808
27, 367 686, 033
27, 367 570, 729
450, 732 1, 246, 565 8, 857 1, 706, 154
36, 957 464, 981 0 501, 938
A B C
1, 064, 984 622, 254 33, 443
S ubt ot a l
A B
3Q2017Ma r k e tT r e nds© 2017byXc e l i g e nt , I nc .Al l Ri g ht sRe s e r v e d.
T ot a l 16. 7% 17. 1% 13. 9% 16. 6% 13. 6% 23. 8% 7. 0% 16. 4% 32. 4% 8. 1% 15. 3% 16. 0% 25. 0%
BUI L DI NGDAT A.E VE RYWHE RE .
3Q2017|Mi l wa uk e e|Offic e Ov e r v i e wbyMa r k e t( T ot a l )Cont ' d Ma r k e tNa me
Cl a s s
Oz a uk e e
B
214, 715
27, 765
24, 464
11. 4%
902
341
S ubt ot a l
574, 611
55, 881
38, 049
6. 6%
4, 453
1, 275
A
1, 992, 593
388, 473
271, 163
13. 6%
12, 151
23, 758
B
1, 974, 459
470, 248
399, 576
20. 2%
8, 365
25, 808
C
141, 786
30, 189
2, 700
1. 9%
3, 900
3, 900
WAKBr ook fie l d
S ubt ot a l WAKN. B. /Mus k WAKNor t h WAKPe wa uk e e
Va c a nt( s f )
Va c a nc yRa t e
Qr t l yAbs( s f )
Y T DNe tAbs( s f )
4, 108, 838
888, 910
673, 439
16. 4%
24, 416
5, 950
121, 676
18, 884
18, 884
15. 5%
0
0
S ubt ot a l
121, 676
18, 884
18, 884
15. 5%
0
0
B
23, 414
0
0
0. 0%
0
0
S ubt ot a l
23, 414
0
0
0. 0%
0
0
A
1, 370, 915
232, 698
199, 339
14. 5%
0
9, 505
B
963, 280
240, 517
165, 030
17. 1%
5, 703
32, 219 41, 724
2, 334, 195
473, 215
364, 369
15. 6%
5, 703
B
22, 273
0
0
0. 0%
0
0
C
32, 000
10, 440
10, 440
32. 6%
0
1, 912
S ubt ot a l Ov e r a l l
Av a i l a bl e( s f )
B
S ubt ot a l WAKWe s t
I nv e nt or y( s f )
54, 273
10, 440
10, 440
19. 2%
0
1, 912
28, 207, 625
6, 065, 960
4, 751, 098
16. 8%
77, 961
41, 160
3Q2017Ma r k e tT r e nds© 2017byXc e l i g e nt , I nc .Al l Ri g ht sRe s e r v e d.
BUI L DI NGDAT A.E VE RYWHE RE .
3Q2017|Mi l wa uk e e|Offic e
Cons t r uconbyMa r k e t
T ot a l Av a i l a bl ea ndVa c a nt
MK DTE a s t 1E MK DTWe s t 2E
Av a i l a bl e( s f )
MK 3r dWa r d 3E
Va c a nt( s f )
6M
4M
173, 500 2M 0M 3Q2016
4Q2016
1Q2017
2Q2017
3Q2017
Va c a nc yRa t e T ot a l 3Q2016
4Q2016
Di r e c t 1Q2017
S ubl e a s e 2Q2017
3Q2017
Va c a nc y%
15. 0% 10. 0% 5. 0% 0. 0%
Ov e r v i e wbyCl a s s( Di r e c t ) Qt r l yAbs( s f )
Y T DNe tAbs( s f )
A
12, 750, 405
2, 355, 129
1, 901, 343
14. 9%
677
110, 420
B
14, 330, 036
3, 307, 512
2, 652, 659
18. 5%
86, 181
175, 304
C
1, 127, 184
157, 649
93, 541
8. 3%
8, 897
10, 029
28, 207, 625
5, 820, 290
4, 647, 543
16. 5%
77, 961
74, 913
I nv e nt or y( s f ) 12, 750, 405
Av a i l ( s f ) 95, 619
Va c a nt( s f ) 26, 006
Va c a nc yRa t e 0. 2%
Qt r l yAbs( s f ) 0
Y T DNe tAbs( s f ) 4, 661
14, 330, 036
146, 339
73, 837
0. 5%
0
114, 234
Cl a s s
Ov e r a l l
I nv e nt or y( s f )
Av a i l ( s f )
Va c a nt( s f )
Va c a nc yRa t e
Ov e r v i e wbyCl a s s( S ubl e a s e ) Cl a s s A B C Ov e r a l l
1, 127, 184
3, 712
3, 712
0. 3%
0
6, 500
28, 207, 625
245, 670
103, 555
0. 4%
0
116, 073
3Q2017Ma r k e tT r e nds© 2017byXc e l i g e nt , I nc .Al l Ri g ht sRe s e r v e d.
BUI L DI NGDAT A.E VE RYWHE RE .
3Q2017|Mi l wa uk e e|Offic e
Di r e c tVa c a nc yRa t e s ByMa r k e ta ndCl a s s
ByMa r k e t Qua r t e rY e a r
MKE Nor t hS hor e
MKE Nor t hwe s t
MKE S out he a s t MKE S out hwe s t
MKE W. Al l i s MKE We s t Oz a uk e e
WAKBr ook fie l d
WAKN. B. /Mus k WAKNor t h WAKPe wa uk e e
WAKWe s t Ov er a l l
3Q2017Ma r k e tT r e nds© 2017byXc e l i g e nt , I nc .Al l Ri g ht sRe s e r v e d.
WAKWe s t
WAKPe wa uk e e
WAKN. B. /Mus k
WAKBr ook fie l d
Oz a uk e e
MKE W. Al l i s
MKE S out hwe s t
MKE S out he a s t
MKE Nor t hwe s t
MKE Nor t hS hor e
0. 0%
MKE Ma y f a i r
MKE Ma y f a i r
10. 0%
MKE DTWe s t
MKE DTWe s t
20. 0%
MKE DTE a s t
MKE DTE a s t
3Q2016 4Q2016 1Q2017 2Q2017 3Q2017 Cl a s s A 17. 5% 18. 0% 19. 3% 19. 4% 16. 7% B 14. 2% 14. 9% 17. 1% 17. 5% 17. 1% C 10. 5% 10. 1% 13. 9% 13. 9% 13. 9% S ubt ot a l 14. 1% 14. 6% 16. 9% 17. 2% 16. 6% A 12. 1% 12. 7% 12. 5% 13. 1% 13. 5% 25. 3% 24. 7% 22. 2% 22. 0% 23. 2% B C 1. 7% 4. 7% 7. 6% 7. 6% 5. 3% S ubt ot a l 15. 8% 16. 1% 15. 2% 15. 5% 16. 1% A 32. 4% 32. 4% 32. 4% 32. 4% 32. 4% B 10. 0% 10. 1% 9. 2% 8. 3% 7. 9% C 0. 0% 0. 0% S ubt ot a l 16. 3% 16. 3% 16. 1% 15. 4% 15. 1% A 22. 1% 20. 0% 14. 9% 15. 1% 14. 9% B 27. 4% 27. 1% 25. 4% 24. 3% 24. 7% C 34. 4% 34. 4% 33. 6% 33. 5% 33. 5% 9% 23. 7% 20. 2% 19. 8% 19. 9% S ubt ot a l 24. 7. 2% 7. 2% 6. 4% 6. 3% 6. 3% A B 24. 2% 23. 0% 24. 5% 25. 3% 34. 0% C 0. 0% 0. 0% 0. 0% 0. 0% 0. 0% S ubt ot a l 19. 7% 18. 8% 19. 7% 20. 1% 26. 5% A 14. 4% 14. 4% 14. 7% 15. 6% 16. 2% B 9. 5% 8. 2% 25. 1% 38. 9% 38. 9% C 41. 2% 0. 0% 0. 0% 0. 0% 0. 0% S ubt ot a l 13. 0% 11. 7% 18. 2% 23. 7% 24. 1% B 46. 9% 46. 9% 43. 8% 32. 0% 28. 3% S ubt ot a l 46. 9% 46. 9% 43. 8% 32. 0% 28. 3% 15. 4% 14. 5% 15. 5% 14. 9% 14. 9% A B 29. 9% 29. 9% 29. 9% 29. 9% 30. 2% S ubt ot a l 20. 6% 20. 0% 20. 6% 20. 2% 20. 3% B 5. 7% 5. 5% 5. 0% 5. 5% 5. 4% C 0. 0% 0. 0% 0. 0% 0. 0% 0. 0% S ubt ot a l 5. 5% 5. 3% 4. 8% 5. 3% 5. 2% B 0. 0% 0. 0% 0. 0% 0. 0% 0. 0% C 0. 0% 0. 0% 0. 0% 0. 0% 0. 0% S ubt ot a l 0. 0% 0. 0% 0. 0% 0. 0% 0. 0% A 3. 7% 4. 2% 4. 8% 4. 8% 3. 8% B 12. 4% 11. 2% 13. 1% 11. 8% 11. 4% 9% 6. 8% 7. 9% 7. 4% 6. 6% S ubt ot a l 6. A 10. 9% 12. 4% 13. 4% 14. 2% 13. 6% B 21. 5% 20. 6% 20. 0% 19. 7% 19. 3% C 7. 6% 4. 7% 4. 7% 4. 7% 1. 9% S ubt ot a l 15. 9% 16. 1% 16. 3% 16. 5% 16. 0% B 15. 5% 15. 5% 15. 5% 15. 5% 15. 5% S ubt ot a l 15. 5% 15. 5% 15. 5% 15. 5% 15. 5% B 9. 3% 0. 0% 0. 0% 0. 0% 0. 0% S ubt ot a l 9. 3% 0. 0% 0. 0% 0. 0% 0. 0% A 15. 1% 15. 1% 16. 3% 14. 5% 14. 5% 20. 2% 20. 5% 18. 3% 17. 7% 17. 1% B 2% 17. 3% 17. 1% 15. 9% 15. 6% S ubt ot a l 17. B 0. 0% 0. 0% 0. 0% 0. 0% 0. 0% C 26. 7% 26. 7% 26. 7% 32. 6% 32. 6% S ubt ot a l 15. 7% 15. 7% 15. 7% 19. 2% 19. 2% 16. 1% 16. 0% 16. 0% 16. 1% 16. 5%
MKE 3r dWa r d
Ma r k e tNa me MKE 3r dWa r d
Mi l wa uk e ebyCl a s s A
B
C
19. 0% 17. 0% 15. 0% 13. 0% 11. 0% 9. 0% 7. 0% 3Q2016
4Q2016
1Q2017
2Q2017
3Q2017
2Q2017
3Q2017
Na ona l byCl a s s A
B
C
13. 5% 13. 0% 12. 5% 12. 0% 11. 5% 11. 0% 3Q2016
4Q2016
1Q2017
BUI L DI NGDAT A.E VE RYWHE RE .
3Q2017|Mi l wa uk e e|Offic e
Di r e c tWe i g ht e dAv e r a g eAs k i ngRa t e s( F S G) ByMa r k e t
MKE Nor t hS hor e
MKE Nor t hwe s t
MKE S out he a s t MKE S out hwe s t MKE W. Al l i s MKE We s t Oz a uk e e WAKBr ook fie l d
WAKN. B. /Mus k WAKNor t h WAKPe wa uk e e WAKWe s t Ov er a l l
3Q2017Ma r k e tT r e nds© 2017byXc e l i g e nt , I nc .Al l Ri g ht sRe s e r v e d.
WAKWe s t
WAKPe wa uk e e
WAKN. B. /Mus k
WAKBr ook fie l d
Oz a uk e e
MKE W. Al l i s
MKE S out hwe s t
MKE S out he a s t
MKE Nor t hwe s t
MKE Ma y f a i r
MKE Nor t hS hor e
MKE DTWe s t
MKE Ma y f a i r
MKE DTE a s t
3Q2016 4Q2016 1Q2017 2Q2017 3Q2017 Cl a s s A $22. 05 $21. 78 $19. 25 $20. 25 $22. 32 $19. 65 $22. 11 $22. 23 $22. 12 $22. 12 B C $14. 00 32 $22. 04 $22. 00 $21. 90 $22. 17 S ubt ot a l $20. A $26. 94 $27. 16 $26. 95 $27. 75 $27. 99 $22. 00 $21. 82 $21. 42 $22. 67 $22. 50 B C 61 $25. 81 $25. 51 $26. 62 $26. 77 S ubt ot a l $25. A $15. 00 $15. 00 $15. 00 $15. 00 $15. 00 $13. 78 $13. 67 $15. 03 $14. 86 $14. 84 B C 01 $13. 95 $15. 02 $14. 89 $14. 88 S ubt ot a l $14. A $24. 84 $24. 66 $24. 97 $25. 09 $25. 34 $16. 48 $17. 43 $17. 41 $17. 28 $17. 53 B C $13. 84 $13. 84 $15. 93 $16. 09 $16. 09 53 $19. 33 $19. 46 $19. 55 $19. 75 S ubt ot a l $18. A $20. 74 $20. 76 $21. 11 $21. 39 $21. 41 $14. 23 $14. 34 $14. 40 $14. 41 $14. 53 B C 73 $14. 81 $14. 88 $14. 95 $15. 11 S ubt ot a l $14. A $21. 33 $21. 33 $21. 70 $21. 62 $21. 62 $18. 80 $18. 85 $19. 05 $20. 58 $20. 58 B C $11. 00 06 $20. 71 $20. 63 $21. 04 $21. 04 S ubt ot a l $20. B $15. 33 $15. 36 $14. 71 $14. 71 $14. 66 33 $15. 36 $14. 71 $14. 71 $14. 66 S ubt ot a l $15. A $17. 14 $17. 14 $15. 50 $16. 99 $17. 01 - $17. 00 $17. 00 $17. 00 $17. 00 B S ubt ot a l $17. 14 $17. 13 $15. 59 $16. 99 $17. 01 $17. 21 $17. 18 $17. 15 $17. 64 $18. 14 B C 21 $17. 18 $17. 15 $17. 64 $18. 14 S ubt ot a l $17. B C S ubt ot a l A $16. 35 $16. 60 $16. 30 $16. 16 $17. 94 B $12. 51 $12. 51 $12. 00 $11. 32 $15. 12 S ubt ot a l $14. 68 $14. 28 $15. 88 $14. 83 $17. 40 A $21. 65 $21. 80 $21. 79 $21. 77 $21. 84 B $17. 27 $17. 39 $17. 50 $17. 56 $17. 57 C $15. 00 $15. 00 $15. 00 $15. 00 $15. 00 S ubt ot a l $19. 66 $19. 73 $19. 69 $19. 62 $19. 98 B $18. 35 $18. 35 $18. 35 $18. 35 $18. 35 S ubt ot a l $18. 35 $18. 35 $18. 35 $18. 35 $18. 35 B S ubt ot a l A $22. 32 $22. 41 $22. 26 $22. 25 $22. 28 B $15. 02 $15. 49 $15. 43 $16. 66 $16. 68 S ubt ot a l $18. 84 $18. 76 $18. 98 $19. 30 $19. 39 B C $18. 50 $18. 50 $18. 50 $18. 50 $18. 50 S ubt ot a l $18. 50 $18. 50 $18. 50 $18. 50 $18. 50 $19. 92 $20. 12 $20. 08 $20. 62 $21. 04
MKE DTWe s t
Ma r k e tNa me MKE 3r dWa r d
$27. 00 $24. 00 $21. 00 $18. 00 $15. 00 $12. 00 $9. 00 $6. 00 $3. 00 MKE DTE a s t
Qua r t e rY e a r
MKE 3r dWa r d
ByMa r k e ta ndCl a s s
Mi l wa uk e ebyCl a s s A
B
C
$24. 00 $22. 00 $20. 00 $18. 00 $16. 00 $14. 00 3Q2016
4Q2016
1Q2017
2Q2017
3Q2017
2Q2017
3Q2017
Na ona l byCl a s s A
B
C
$26. 00 $24. 00 $22. 00 $20. 00 $18. 00 $16. 00 $14. 00 3Q2016
4Q2016
1Q2017
BUI L DI NGDAT A.E VE RYWHE RE .
3Q2017|Mi l wa uk e e|Offic e Abs or p onMa p
L a r g e s tPos iv e( T ot a l ) Pr ope r t yNa me T heMe r c a nl eBui l di ng
S i g ni fic a ntT r a ns a cons E x pa ns i onc ompl e t e d
Ma r k e tNa me MKE 3r dWa r d
Cl a s s B
21, 887
T heRe na i s s a nc eBui l di ng
Owne roc c upi e d
MKE 3r dWa r d
A
16, 115
S t e i nme y e rBui l di ng
Roc k e t L a wnCha i r , Undi s c l os e dT e na nt s
MKE DTWe s t
B
9, 007
100E a s tBui l di ng
O' Conne l l , T i v i ns , Mi l l e ra ndBur ns , Ma r c us
MKE DTE a s t
A
7, 977
Bi s hopsWoodsCe nt e r
S ol v yS e v e n, L L C
WAKBr ook fie l d
B
6, 729
Ai r por tAt r i umCe nt e r
Owne roc c upi e d, Cl ul e eT e c hl i nk , Cor ne r s t oneCouns e l i ng
MKE S out he a s t
B
6, 559
S k yPl a z aI
Qua ndtBe r ndt&Compa ny
WAKPe wa uk e e
B
5, 022
600NBr oa dwa y
S pa c et a k e nOT M
MKE DTE a s t
C
4, 997
L a r g e s tNe g av e( T ot a l ) Pr ope r t yNa me L y de l l Cor por a t eCe nt e r
S i g ni fic a ntT r a ns a cons Adde oF i t13, 000s f , J ohns onCont r ol s-120, 000s f
Ma r k e tNa me MKE Nor t hS hor e
Cl a s s B
875EWi s c ons i nAv e
Roundy ' s( Downs i z e )
MKE DTE a s t
A
27, 568
Ci t y Ce nt e ra t735
Undi s c l os e dT e na nt ( s )
MKE DTE a s t
B
17, 969
241NBr oa dwa y( Offic e )
Undi s c l os e dT e na nt s , S ui t es i z ea dj us t me nt
MKE 3r dWa r d
A
8, 803
OnePa r kPl a z a
BMOHa r r i s
MKE Nor t hwe s t
A
7, 097
2675Bui l di ng
F DA
MKE Ma y f a i r
B
7, 022
Mi l wa uk e eCe nt e r
S t a t eF a r m
MKE DTE a s t
A
7, 002
T heF or um
Ke l l yS e r v i c e s
MKE Ma y f a i r
B
6, 354
3Q2017Ma r k e tT r e nds© 2017byXc e l i g e nt , I nc .Al l Ri g ht sRe s e r v e d.
107, 000
BUI L DI NGDAT A.E VE RYWHE RE .
3Q2017|Mi l wa uk e e|Offic e L e a s i ngAcv i t yT r e nds
Di r e c tVa c a nc yRa t e
L e a s eT r a ns a cons Qua r t e rY e a r 15. 0%
10. 0% 50 5. 0%
0
Di r e c tVa c a nc yRa t e
#ofL e a s eT r a ns a cons
100
0. 0% 3Q2016
4Q2016
1Q2017
2Q2017
3Q2017
L e a s i ngAcv i t y( #ofNe wDe a l s ) S i z eRa ng e( s f )
< 2. 5K
2. 5K-5K
5K-10K
10K-25K
25K-50K
> 50KS F
Qua r t e rY e a r
66
3Q2016
14
7
66
4Q2016 1Q2017
48
2Q2017
53
23
0K
20K
9
17
3
16 40K
60K
80K
1
12
14
44
3Q2017
5
3
4 6
3 3
1
1
1 1
100K 120K 140K 160K
180K 200K 220K
240K 260K 280K
300K 320K 340K
T ot a l L e a s e dS F
S a l e sVol umev s . Pr i c e / S F Ag g r e g a t eS a l e sVol ume
T opS a l e s Av gPr i c e / s f $100
200M
$50
100M
0M
$0 3Q2016
4Q2016
1Q2017
2Q2017
3Q2017
3Q2017Ma r k e tT r e nds© 2017byXc e l i g e nt , I nc .Al l Ri g ht sRe s e r v e d.
Pr ope r t y
S a l eDa t e
411E a s tWi s c ons i n Ce nt e r
Buy e r
S a l ePr i c e
07/ 04/ 2017 Mi ddl e t onPa r t ne r s
$74, 000, 000
Uni t e dHe a r t l a ndHQ 08/ 11/ 2017
S t one montF i na nc i a l Gr oup
$14, 740, 539
GMR
09/ 12/ 2017
Br e nna nI nv e s t me nt Gr oupE ta l
$10, 400, 000
2855SJ a me sDr
09/ 12/ 2017
Br e nna nI nv e s t me nt Gr oupE ta l
$4, 600, 000
Wa l k e r ' sPoi nt
08/ 10/ 2017 Wa ng a r dCompa ni e s
$3, 510, 000
BUI L DI NGDAT A.E VE RYWHE RE .
3Q2017|Mi l wa uk e e|Offic e T e r mi nol og y T e r m
De finion
Cl a s sA
Mos tpr e sg i ousbui l di ng sc ompe ngf orpr e mi e roffic eus e r swi t hr e nt sa bov et hema r k e ta v e r a g e . Bui l di ng sha v ehi g hqua l i t ys t a nda r d fini s he s , s t a t eoft hea r ts y s t e ms , e x c e p ona l a c c e s s i bi l i t ya ndade fini t ema r k e tpr e s e nc e .
bl a .
Cl a s sB
Bui l di ng sc ompe ngf orawi der a ng eofoffic eus e r swi t ha v e r a g ema r k e tr e nt s . Bui l di ngfini s he sa r ef a i rt og oodf ort hea r e aa nds y s t e msa r e a de qua t e , butt hepr ope r t ydoe snotc ompe t ewi t hCl a s sApr oduc t .
bl a .
Di r e c tVa c a nt( s f )
T het ot a l oft hev a c a nts qua r ef oot a g ei nabui l di ngt ha ti sbe i ngma r k e t e dbya na g e ntr e pr e s e n ngt hel a ndl or d.
bl a .
I nv e nt or y
T het ot a l s qua r ef e e t( s f )ofa l l e x i sngs i ng l ea ndmult e na nti ndus t r i a l pr ope re sg r e a t e rt ha n10, 000s f .
bl a .
T het ot a l s qua r ef e e t( s f )ofa l l e x i sngs i ng l ea ndmult e na nti ndus t r i a l pr ope re sg r e a t e rt ha n25, 000s f .
bl a .
T het ot a l s qua r ef e e t( s f )ofa l l e x i sngs i ng l ea ndmult e na ntoffic ebui l di ng sg r e a t e rt ha n20, 000s f , e x c l udi ngme di c a l , g ov e r nme nta ndowne rbl a oc c upi e dbui l di ng s . . Ne tAbs or p on
S ubl e a s e( s f )
T hene tc ha ng ei noc c upa nc yf r omqua r t e rt oqua r t e r , e x pr e s s e di ns qua r ef e e t .
bl a .
T hene tc ha ng ei nphy s i c a l l yoc c upi e ds pa c ef r omqua r t e rt oqua r t e r , e x pr e s s e di ns qua r ef e e t .
bl a .
S pa c et ha ti soffe r e df orl e a s ebyac ur r e ntt e na nt , orhi sa g e nt , wi t hi napr ope r t y .
bl a .
S pa c et ha ti soffe r e df orl e a s ebyac ur r e ntt e na nt , orhi sa g e nt , wi t hi napr ope r t y . Whe t he rt het e na nti spa y i ngr e ntornot , t hes pa c ei s c ons i de r e dv a c a ntonl yi fi ti sunoc c upi e d.
bl a .
T ot a l Av a i l a bl e( s f )
Al l oft hea v a i l a bl el e a s a bl es pa c ewi t hi nabui l di ng , whe t he ri ti soc c upi e dorv a c a nt , f ordi r e c tl e a s eors ubl e a s es pa c e . S pa c ec a nbea v a i l a bl e bl a butnotv a c a nt , f ore x a mpl e , i ft hel a ndl or d, orhi sa g e nt , i sma r k e ngs pa c et ha twi l l bec omi nga v a i l a bl ea taf ut ur eda t ebe c a us eat e na nti s . pl a nni ngt omov e .
T ot a l Va c a nt( s f )
T het ot a l ofa l l oft hev a c a nts qua r ef oot a g ewi t hi nabui l di ng , i nc l udi ngbot hdi r e c ta nds ubl e a s es pa c e .
bl a .
We i g ht e dAv e r a g e As k i ngRe nt
T hewe i g ht e da v e r a g eofa l l a s k i ngr e nt se x pr e s s e da saNNNr e nt a l r a t ea ndwe i g ht e dont ot a l a v a i l a bl es qua r ef e e t .
bl a .
We i g ht e dAv e r a g e As k i ngRe nt s
T hewe i g ht e da v e r a g eofa l l a s k i ngr e nt se x pr e s s e da saf ul l s e r v i c e / g r os sr e nt a l r a t ea ndwe i g ht e dont ot a l a v a i l a bl es qua r ef e e t . Nonf ul l s e r v i c er a t e s( s uc ha sNNN)ha v ebe e ng r os s e dupt or e fle c taf ul l s e r v i c e / g r os sr a t e .
bl a .
T hewe i g ht e da v e r a g eofa l l a s k i ngr e nt se x pr e s s e da saNNNr e nt a l r a t ea ndwe i g ht e dont ot a l a v a i l a bl es qua r ef e e t .
bl a .
Comme r c i a l As s oc i a onofRe a l t or sWi s c ons i n( CARW)
bl a .
Xc e l i g e ntPa r t ne r
T hi si nf or ma onhasbe e nobt ai ne df r oms our c e sbe l i e v e dr e l i abl e . Whi l ewedonotdoubti t sac c ur ac y , wehav enotv e r i fie di tandmak enoguar ant e e , war r ant yor r e pr e s e nt a onabouti t . I ti sy ourr e s pons i bi l i t yt oi nde pe nde nt l yc onfir mi t sac c ur ac y . 3Q2017Ma r k e tT r e nds© 2017byXc e l i g e nt , I nc .Al l Ri g ht sRe s e r v e d.
BUI L DI NGDAT A.E VE RYWHE RE .
3Q2017|Mi l wa uk e e|Offic e Adv i s or yBoa r dMe mbe r s
Pl a c e hol de r
Ande r s onComme r c i a l Gr oup
S t e ffi Ha hn
F ounde r s3Re a l E s t a t eS e r v i c e s
Ne dPur t e l l
CBRE
J ohnMa z z a
J L L
Mi c ha e l S t r e i t
Wi l l i a mBoni f a s
NAI ML GComme r c i a l
J a c kJ a c obs on
Col l i e r sI nt e r na ona l Wi s c ons i n
Da nWr obl e ws k i Mi k eWa ne z e k
T i mJ a nus z T heBoe r k eCompa ny
Andr e wJ e ns e n
T r a ns we s t e r n
Da nWa l s h
Re s e a r c hAdv i s or yBoa r dMe mbe r s
Re s e a r c hAdv i s or yMe mbe r s
CBRE
Chr i sa nHunt e r
J L L
Ky l eKol l e r
Ry a nRa s mus s e n
NAI ML GComme r c i a l
Na t ha nWi nk e l
Da v i dF i s c he r
T heBoe r k eCompa ny
Ga r dPe c or
Col l i e r sI nt e r na ona l
Ma r g a r e tBr uc k ne r
Ka eGr e mba n
Xc e l i g e ntT e a m Br i a nRe e c e
Re g i ona l VPofAna l yc s
br e e c e @x c e l i g e nt . c om
( 919)9713461
Gr e gHa y de n
Re g i ona l VPofS a l e s
g ha y de n@x c e l i g e nt . c om
( 816)3032833
J a me sBe r t ol l i
S a l e sE x e c uv e
j be r t ol l i @x c e l i g e nt . c om
( 949)3068767
J os hPa r r i s h
Di r e c t orofAna l yc s
j pa r r i s h@x c e l i g e nt . c om
( 414)4167092
3Q2017Ma r k e tT r e nds© 2017byXc e l i g e nt , I nc .Al l Ri g ht sRe s e r v e d.
BUI L DI NGDAT A.E VE RYWHE RE .
3Q2017|Mi l wa uk e e|Offic e
3Q2017Ma r k e tT r e nds© 2017byXc e l i g e nt , I nc .Al l Ri g ht sRe s e r v e d.
BUI L DI NGDAT A.E VE RYWHE RE .