Q2 2019 Madison Market Report

Madison office fundamentals have been relatively strong this cycle. Vacancies were compressed within 50 basis points of their all-time low in mid-2019. This followed a temporary expansion early last year as the Wisconsin Dept. of Transportation began taking occupancy of its newly delivered 600,000-SF property in phases. In fact, the government-occupied office facility was the largest of its kind to deliver in the past decade when it came on line in 18Q2.