Milwaukee Real Estate:

Located along Lake Michigan, Milwaukee, WI is the largest city in the state with a population of 604,477 people. Manufacturing and brewing used to be the city’s main industries but it has changed with time and delved into new ventures. The city itself has gotten a facelift with new developments in the last decade. Now, skyscrapers, retail space and affluent neighborhoods line the shores of the lake and riverfront. The Milwaukee Riverwalk, the Midwest Airlines Center, the Miller Park and Pier Wisconsin are all new to the city. All of these factors help to keep Milwaukee office space somewhat pricey (when compared to other small cities like Cincinnati, or Memphis for example).

Milwaukee Economy:

The current economy in the city is headed by companies such as the Johnson Controls, Northwestern Mutual, Manpower Inc., Kohl’s, Harley-Davidson and GE Healthcare among others. Midwest Airlines, Master Lock, and Harken; all have their headquarters there. Healthcare makes up for 27% of jobs in the city. The Ronald McDonald House, a children’s hospital is located here. Fortune magazine quite recently named Manpower Inc and Northwestern Mutual as one of the World’s Most-Admired Companies.

Given the history of German migrants to Milwaukee, breweries became a trade that they brought along with them, something which lasts till this day. Miller, one of the major breweries in the US has its plant here in Milwaukee. It is the oldest, still-functioning brewery in the United States. Milwaukee used to be the number one beer producing city in the world but has since lost its former glory but it is still very much in the game and the city is still known as a beer town by many.

Milwaukee, Wisconsin used to be among the ten most dangerous cities in the United States. It has improved a lot in recent times under new police strategies and massive reforms in the law enforcement agencies. The current crime rates are at a manageable 62 crimes per one thousand residents.

Office Space Rates:

Current economic situations however are not looking very enticing with Milwaukee office space vacancy rates at 19.1% at the end of 2009. This is much higher than the nation’s average and this is quite worrying. Given this situation, office space rentals have also been at an all time low. Many small businesses have closed down due to the financial crisis and it will be a while yet before things bounce back to how it was used to be. This situation is enticing for any tenant on the search to relocate or upgrade their current lease to one in Milwaukee. Office Rental rates per square foot have decreased in correlation to the rise in vacancy rates and if you need to determine how much office space you need, we can help. Therefore, not only can a tenant get in for a lower price but terms to the lease agreement can also include incentives such as the inclusion of utilities. Under current circumstances, any number of incentives should be offered to the tenant prior to move in.

Milwaukee has earned its name as the ‘City of Festivals’ through the various festivals that are held here on an annual basis. The city holds the Wisconsin State Fair and Summerfest. Incidentally, Summerfest has been slated in the Guinness Book of World Records as the largest music festival in the world with an attendance of nearly a million people.

Commerce Street in Downtown Milwaukee is where the canopy of condominiums and modern designed buildings are clustered. The RiverWest is lined with retail shops, restaurants and bars perused by visitors and locals alike. The much talked about Marsupial Bridge suspended beneath the Holton Avenue viaduct is a unique structure that has become the talk of the locals. The Milwaukee Rowing Club’s boat storage facility also stands along the river bank with its new and modern architecture.