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Village staff: Germantown has substantial Class A industrial inventory with elevated vacancy; commission to follow up with market reports
Summary
Village staff presented commercial real-estate data showing roughly 3.8 million sq ft of Class A industrial space with a 19.9% vacancy rate and modest YTD absorption, while Class B and flex space vacancy are much lower; commissioners requested additional market reports and EDWC data at the Dec. 9 meeting.
Steve, a village staff member, presented industrial real-estate market data to the Economic Development Commission on Nov. 11 as part of the Operation Storefront agenda item.
Steve said a CARW-affiliated real estate broker pulled Germantown-specific data showing Class A industrial inventory of about 3,800,000 square feet with a vacancy rate of about 19.9% and year-to-date absorption of 86,984 square feet at an average rental rate of approximately $6.87 per square…
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