Milwaukee-Area Market Remains Weak for Industrial Real Estate.

Byline: Tom Daykin

Dec. 23--DeMattia Group's 81,000-square-foot industrial building in New Berlin has some key selling points for prospective tenants: a good location at I-43 and Moorland Road, competitive leasing rates and an abundance of available space.

But it's the last item that sums up the challenges for DeMattia's building and other industrial properties throughout the Milwaukee area: lots of space, little demand.

Several prospects have toured the building recently, says Michael DeMichele, Milwaukee director of development for DeMattia Group. But no leases have been signed yet.

"Those people who went through -- no one's made a decision," DeMichele says. "There's a lot of hesitancy to expand."

DeMichele's observations are reflected in discussions with other Milwaukee-area industrial real estate professionals. The demand for industrial space remains weak even as some events …