Milwaukee Office Market Report
By PropZone Research · Data through Q1 2026 · Aggregated from Cushman & Wakefield, Colliers, Marcus & Millichap 202
Quarterly office market indicators for Milwaukee, aggregated by PropZone from Cushman & Wakefield, Colliers, Marcus & Millichap 202. As of Q1 2026, average asking rent was $42.84/SF with a 6.9% vacancy rate.
Projected current office pricing — Milwaukee
low confidenceProjected asking rent
$42.84/SF/yr
Estimated sale value
$219–$285/SF
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 multiple brokerages data (cap rate 9.0%, asking rent held flat). Assumes ~92% occupancy (vacancy not reported) and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | $42.84/SF | 6.9% | — | — | Cushman & Wakefield |
| Q1 2026 | — | 12.7% | — | — | Colliers |
| Q1 2026 | $42.84/SF | — | — | — | Marcus & Millichap 202 |
| Q2 2025 | $32.00/SF | 11.5% | 0K SF | — | Cushman & Wakefield |
| Q3 2019 | $38.86/SF | 12.9% | 706K SF | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for office space in Milwaukee?
- As of Q1 2026, the average asking rent for office space in Milwaukee was $42.84/SF, per Cushman & Wakefield.
- What is the office vacancy rate in Milwaukee?
- The office vacancy rate in Milwaukee was 6.9% as of Q1 2026 (Cushman & Wakefield).
- Where does PropZone's Milwaukee market data come from?
- This report aggregates quarterly office market data for Milwaukee from Cushman & Wakefield, Colliers, Marcus & Millichap 202.
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