Market tightening for industrial real estate
JANESVILLE--What was once nearly 1.2 million square feet of vacant industrial space in Janesville is now buildings buzzing with activity.
Greenhouse coverings are manufactured on Enterprise Drive. Natural gas compression equipment ships from Delavan Drive. Candies are made on Whitney Street.
Over on Venture Drive on the city’s south side, a building left vacant by a General Motors supplier is now home to several tenants whose businesses range from thermoplastic parts production to light assembly and distribution of lawn and recreational equipment.
In the last two years, manufacturers and logistics operators have absorbed a combined total of more than 1.4 million square feet of Janesville’s available industrial property.
Overall, Rock County’s industrial vacancy rate since 2010 has dropped from nearly 13 percent vacant to 7.3 percent vacant.
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