Milwaukee Market Report
Major Developments Underscore Long-Term Investment Prospects in Milwaukee; Summer Jobs Recovery Is Promising, But More Challenges Ahead
Urban core builds bolster long-term sentiment. Several major developments underway downtown could positively impact nearby commercial real estate. Office and retail operators may be beneficiaries of business move-ins and greater foot traffic as roughly $400 million is being invested into the Harbor District. This includes a mixed-use development called R1VER that is reaching the early stages of completion. The first phase consists of more than 200,000 square feet of office space, anchored by Michels Corporation, which will house 400 employees at the building. Following phases will add a four-story apartment complex, 125-room hotel and 20,000 square feet of retail space. The Deer District also continues to add new features since opening in 2018 in conjunction with Fiserv Forum recently announcing a 200-plus room luxury hotel will be finalized in 2023.