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Ralph KampsNew Listings:
Building for Lease Active
Building For Sale Active
...Full Story HereRalph Kamps
Editor CirexNews
608.345.2880
Ken Harwood
Publisher CirexNews
608.334.2174
February 2025 Lease Asking Rates
This Weeks Articles for 2/18/2025 ...
- More Signs Point to an Office Turnaround...
- City of Madison rolls out new housing goals, tracker...
- Midvale Boulevard project on hold after area resident opposition ...
- What’s the Impact of Hybrid Work on Commercial Real Estate? ...
- ABC’s Construction Backlog Indicator Increases, Contractors Remain Confident...
- Banks Return To The CRE Table With More Lending Appetite ...
- Lonestar`s Data Center is ready for the Moon: Intuitive Machines and Lonestar Complete Final Installation and Testing of Lonestar`s Data Center Pay...
- Are B malls having a moment? ...
- Trump’s Complicated Effect on the Office Market...
- Will Trump Tariffs Harm Home Affordability?...
- A tranquil boom: why real estate loves wellness hotels...
- Multifamily market outlook: 10 insights from the NMHC Annual Meeting...
- U.S. electricity demand growth through 2027 will be like adding another California...
- Denny’s to increase store closures ...
New Listings:
Building for Lease Active
Former Balzac Restaurant
1716 N Arlington Pl, Milwaukee, WI 53202
Building For Sale Active
6441 Enterprise Ln
Madison, WI 53719
Cirex News is emailed weekly to over 2,000 CRE Brokers/Agents and people interested in commercial real estate. Email Ralph or call 608-345-2880 to feature your business or properties in CirexNews...
More Signs Point to an Office Turnaround
Surge in office lending leads all property sectors
Survive to ‘25. That has been the prevailing sentiment in real estate for the past few years, especially in the struggling office sector. Reduced demand due to the persistence of hybrid and remote work, combined with rapidly rising interest rates, has put fear into nearly every office portfolio manager. By late 2024, conditions remained bleak—interest rates showed no signs of dropping, and nearly a trillion dollars in commercial mortgage debt was set to come due in 2025. Many had begun shifting their mindset from “Survive to ‘25” to “Survive through ‘25.” But now, just a few weeks into the year, there are signs that office real estate may finally be poised for a turnaround.
The first positive sign comes on the lending front. The Mortgage Bankers Association released a report showing that lending for office had increased by 105 percent, leading all property categories. Lending is up across the board with commercial mortgage-backed securities having the most dramatic increase...
The first positive sign comes on the lending front. The Mortgage Bankers Association released a report showing that lending for office had increased by 105 percent, leading all property categories. Lending is up across the board with commercial mortgage-backed securities having the most dramatic increase...
...Full Story Here
RSK: A glitter of sunshine but for every article like this there is a doom and gloom one to counteract it.
Investors Associated
See All Listings Here...
...Full Story HereOne area of expertise for Investors Associated is first class property management. To keep our properties running smoothly, we focus on the little things with the big picture in mind. Our team is comprised of a group of individuals that oversees the day-to-day operations such tenant retention, lease negotiations and property maintenance costs. Bottom line, if you’re not happy, we’re not happy! Check out our properties today and see why you should lease with us.
City of Madison rolls out new housing goals, tracker
As part of the city of Madison’s ongoing efforts to create more housing of all types, Mayor Satya Rhodes-Conway on Tuesday announced new housing goals, an interactive housing tracker for the public to monitor progress, and an update to her Housing Forward initiative to guide city actions over the next two years.
In order to keep up with Madison’s current pace of growth and address one of the lowest rental vacancy rates in the United States, the city is setting a goal to support the creation of 15,000 new homes by 2030, with an additional goal of at least 25% of those homes having long-term affordability at below-market rates for those making 60% of the area median income or less.
To track progress toward these goals and share that information with the public, the city is launching the City of Madison Housing Tracker. The tracker is a new public dashboard that will show how many homes are currently under construction or have been completed since the start of 2025, where those homes are being built, and how many are affordable. It also includes the historical context of how many new homes have been added in the past decade. Data for the Housing Tracker will be updated monthly...
...Full Story Here
RSK: And of mcourse this will raise our real estate taxes since the city in and of itself does not make money but depends on tax revenue. I hope there are plenty of checks and balances in this program.
ABSTRACT Commercial Real Estate LLC
 219 E Main St, Mount Horeb, WI |
 5955 McKee Rd, Fitchburg, WI |
 640 University Ave Madison, WI |
 704 Williamson St Madison, WI |
 5955 McKee Rd, Fitchburg, WI |
 638 University Ave Madison, WI |
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...Full Story HereMidvale Boulevard project on hold after area resident opposition
A proposed Midvale Boulevard project that would have increased bike lanes and cut on-street parking has been suspended after receiving opposition from some area homeowners, according to The Capital Times. City officials announced this week that alternatives will be taken under consideration, delaying the target construction date.Nearly all parking on the boulevard from Mineral Point Road to University Avenue would have been eliminated under the city’s initial plans, which would have implemented additional bike lanes, improved pedestrian crossings at intersections, and resurfaced the entire section for the first time since 2005. ... ...Full Story Here
RSK: Good call...I hardly see any bikers on north Midvale. I wonder if the funds for this were frozen by the Trump Admin being the real reason?
ARTIS REIT / Madison Lifestyle Office Portfolio
Madison Lifestyle Office Portfolio comprises 14 Class A properties totaling over 1.7 million square feet of leasable area and an additional 8.3 acres of development land. The portfolio is located on the west side of Madison, Wisconsin.
What’s the Impact of Hybrid Work on Commercial Real Estate?
The COVID-19 pandemic ushered in a new era of remote-work policies—and led to a drastic downturn in the demand for office space in the United States. Research by New York University’s Arpit Gupta, University of North Carolina’s Vrinda Mittal, and Columbia’s Stijn Van Nieuwerburgh finds that office occupancy in major US office markets tumbled by 90 percent from the end of February 2020 to the next month, as buildings emptied out. Occupancy rates recovered by the end of 2023, but were still at about half of their pre-pandemic levels.Today, the uncertainty around working from home continues to depress office occupancy, lease revenue, and lease renewal rates in commercial real estate. But hybrid work creates some reason for hope. The researchers find that office-space demand from 2019 to 2023 fell by about 41 percent for companies whose workers were expected to be in the office only one day per week...
RSK: This is a robable spiral for large cities with a major downtown office presence. The tax rolls will diminish significantly....and will the rest of the taxable real estate be able to make up for it? Look for service cuts in the near future.Madison Is not immune to this scenario.
Madison Commercial Real Estate LLC
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Office / Flex Space, Middleton
3148 Deming Way
Middleton WI 53562
5430 Commercial Ave
Madison, WI 53704
6302 Odana Rd
Madison, WI 53719
SEE ALL LISTINGS HERE
...Full Story Here
ABC’s Construction Backlog Indicator Increases, Contractors Remain Confident
WASHINGTON, Feb. 11—Associated Builders and Contractors reported today that its Construction Backlog Indicator increased to 8.4 months in January, according to an ABC member survey conducted Jan. 21 to Feb. 3. The reading is unchanged from January 2024. View the full Construction Backlog Indicator and Construction Confidence Index data series.
The monthly increase in backlog was concentrated in the Western region, which also exhibited the largest growth in backlog over the past year. The South has the longest backlog of any region despite exhibiting the largest year-over-year decrease... ...Full Story Here
RSK: Construction delays 8.4 months out and growing....and with ICE taking many illegals who work in the industry, I`m sure this will grow for awhile.
CARW 2023 Events and Resources
Ken Notes: Thank you Tracy Johnson President and CEO of CARW for keeping me in the loop.
Banks Return To The CRE Table With More Lending Appetite
The number of banks reporting tighter loan conditions was almost at zero, according the Federal Reserve’s latest quarterly survey of senior loan officers, first reported by CoStar. Bank demand for CRE hasn`t reached such levels since the first quarter of 2021.
They have already seized back some market share. Banks accounted for 43% of loan closings in the fourth quarter by non-agency lenders, up by 18% from the previous quarter and 40% from a year ago, according to a report by CBRE.
Banks were back at the top of the pecking order among sources of CRE debt. Life insurance companies were the second-most active lending group, followed by alternative lenders, accounting for 33% and 23% of loan closings in Q4, respectively. The CMBS conduits sector made up the remaining 1.5% of origination volume, down from 3% a year before... ...Full Story Here
RSK: For an office loan however, you will need 50 to 60 percent equity.
Commercial Brokers Group
2024 Deal of the Year Celebration
February 26, 2025
4:00pm
The Madison Club
Join us for a cocktail party/meeting to celebrate the 2024 Deal of the Year Awards on Wednesday, February 26, 2025 at the Madison Club, 5 E Wilson St., Madison.
Everyone is welcome to arrive at 4:00 p.m. with the awards ceremony beginning at 5:30 p.m.
Thank You to our Annual Sponsors!
Lonestar`s Data Center is ready for the Moon: Intuitive Machines and Lonestar Complete Final Installation and Testing of Lonestar`s Data Center Pay
ST. PETERSBURG, Fla., Feb. 10, 2025
/PRNewswire/ -- Lonestar Data Holdings, the first company in the world
to provide a commercial data center service from the surface of the
Moon, the leader in lunar edge processing and data storage, announced
that its next Lunar Data Center, Freedom, successfully completed testing
and integration into Intuitive Machines` IM-2 mission lander, named
Athena, and was delivered to Cape Canaveral, Florida.
In coordination with SpaceX, the liftoff of the IM-2 lunar mission is
targeted for a multi-day launch window that opens no earlier than February 26, 2025.
In case of unfavorable launch conditions, such as inclement weather,
backup opportunities will be determined based on the lunar blackout
window and other factors...
...Full Story HereRSK: This could be a game changer....unlinited solar power and no real estate taxes, lol.
Knight Barry Title Group
With over 350 experienced real estate professionals, Knight Barry provides exceptional support and service. Visit our website for more information about our 50+ commercial and residential offices throughout
Wisconsin, Michigan, and Minnesota.
MADISON: 2450 Rimrock Road, Suite 204, 608-255-2700
CAP SQUARE: 44 E. Mifflin Street, Suite 101, 608-255-2700
MADISON: 2450 Rimrock Road, Suite 204, 608-255-2700
CAP SQUARE: 44 E. Mifflin Street, Suite 101, 608-255-2700
Are B malls having a moment?
Companies like Simon Property Group and Walmart are throwing money at shopping centers with empty stores, weak traffic and falling sales.
Lower-performing shopping malls in the U.S. that once seemed destined to languish or close are getting renewed attention.
Last week, for example, Walmart revealed that it bought a mall in the Pittsburgh area, and Simon Property Group said that for the next two years it will refurbish many of its B malls.
“Frankly we’ve been organizationally very focused on — for no better word — the A’s,” CEO David Simon told analysts last week. “We do think there is real effort, focus, growth for us in the B’s, where we’re investing our dollars. So that’s a big program for us in ’25 and ’26.”..
Last week, for example, Walmart revealed that it bought a mall in the Pittsburgh area, and Simon Property Group said that for the next two years it will refurbish many of its B malls.
“Frankly we’ve been organizationally very focused on — for no better word — the A’s,” CEO David Simon told analysts last week. “We do think there is real effort, focus, growth for us in the B’s, where we’re investing our dollars. So that’s a big program for us in ’25 and ’26.”..
...Full Story Here
RSK: The answer is yes.
Food Fight
Food Fight Gift Cards...
Food Fight is a locally owned and operated restaurant group with an ever-growing family of unique and diverse restaurants in the greater Madison area. Founded in 1994 by Monty Schiro of Monty’s Blue Plate Diner and local real estate investor Peder Moren, Food Fight Restaurant Group combined their creative vision and business sense with a mission of providing the best possible service and experiences for the greater community.
Gift cards can be redeemed at all of our restaurants for dine-in visits or call-in carryout orders, and they never expire...
Reinhart
With the largest Real Estate Practice of any law firm in Wisconsin, Reinhart offers clients custom-tailored real estate insight.
Trump’s Complicated Effect on the Office Market
Federal downsizing could flood the market with vacancies
President Trump has issued a flurry of executive orders since taking office, some potentially affecting the stalled return of public and private workers to offices. Last month, his administration introduced this action: “Heads of all departments and agencies in the executive branch of Government shall, as soon as practicable, take all necessary steps to terminate remote work arrangements and require employees to return to work in-person at their respective duty stations on a full-time basis, provided that the department and agency heads shall make exemptions they deem necessary.”
On February 10th, the federal employee return-to-work order took effect, disrupting schedules for many federal workers and causing traffic issues in cities like Washington, D.C. Beyond the inconvenience, it may set a precedent for the rest of the country, where remote workers have grown accustomed to working from home while employers push for a return to the office for various reasons...
On February 10th, the federal employee return-to-work order took effect, disrupting schedules for many federal workers and causing traffic issues in cities like Washington, D.C. Beyond the inconvenience, it may set a precedent for the rest of the country, where remote workers have grown accustomed to working from home while employers push for a return to the office for various reasons...
...Full Story Here
RSK: Sort of a Catch 22. What are your thoughts on this anybody...chime in.
St. John Properties
 6504 Ronald Reagan Ave, Madison, WI |  Madison East Business Center 4602 S Biltmore Ln, Madison, WI |  4602 S Biltmore Ln Madison, WI | |
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...Full Story HereWill Trump Tariffs Harm Home Affordability?
Navigating construction material prices amid the new administration’s recent tariffs
Overview
CoreLogic analysis suggests that tariffs could push home construction costs up by 4% – 6% over the next 12 months as material costs adjust to the new landscape. In some cases, tariffs could push prices up by double-digit percentages.
- How will Trump’s tariffs impact home affordability?
- Can domestic production fulfill demand for construction materials?
- How will restoration efforts following the LA fires combine with tariffs to inflate prices?
- Construction categories facing major tariff burdens
...Full Story Here
RSK: This could increase the costs of renting, buying and leasing....someone will have to pick up the increases in cost and its usually the final consumer. Or, it might even slow down the rate of production.
Wisconsin Commercial Real Estate
 75 Gasser Rd Wisconsin Dells, WI |
 4711 Farwell St McFarland, WI |
 808 Industry Rd Sauk City, WI |
 426 Gammon Pl Madison, WI |
See All Listings Here...
...Full Story HereA tranquil boom: why real estate loves wellness hotels
Investors and travelers trend towards “healthy” choices for luxury stays
Before it shuttered in 2022, the low-slung, midcentury Bearfoot Inn was an affordable and clothing-optional outpost for gay travelers to Palm Springs, California. Plasticky red loungers on the concrete pool deck faced a slab wall and then the San Jacinto mountains. According to a one-star online review, the proprietors argued with guests over the hot tub.
The new hotel on the site, Terra Palm Springs, opened last month. It’s very different. There are earth-toned rooms, wellness tonics, a Himalayan salt room and a “desert wellness” spa circuit. Nightly rates start at about $400 and could go up to $1,000, according to co-founder Soli Cayetano — making it one of the pricier stays in the desert tourism hotspot...
...Full Story Here
RSK: It is definitely a niche, but if you are good at it you will do well.
The Gialamas Company, Inc.
 8150 Excelsior Dr Madison, WI |
 1289 Deming Way Madison, WI |
 918 Deming Way Madison, WI |
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See All Listings Here...
...Full Story Here
For over 45 years, The Gialamas Company has brought real estate development, brokerage, leasing and building management expertise to the City of Madison and the State of Wisconsin.
RASCW Events
Home Buyers Round Table
of Dane County
Annual Real Estate Agent Training
Monday, February 24, 2025 (9:00 AM - 11:30 AM) (CST)
Unlock Homeownership with Down Payment Assistance Programs!
- Are you knowledgeable about the various down payment assistance programs available for your home buyers?
- Did you know you can request assistance from multiple programs?
- Understand how to avoid PMI, reduce monthly payments, and help buyers maintain their savings for future home expenses with DPA.
...Full Story Here
Park Towne Realty LLC
 7031 River Rd DeForest, WI |
 402 Gammon Pl Madison, WI |
 6730 Odana Rd Madison, WI |
 1117 River Rd DeForest, WI |
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 6808 Odana Rd Madison, WI |
See All Listings Here...
Multifamily market outlook: 10 insights from the NMHC Annual Meeting
The National Multifamily Housing Council (NMHC) Annual Meeting brings together multifamily real estate leaders, investors, and professionals to discuss the latest trends, challenges, and opportunities in the market. Our team was on the ground, walking the floor and engaging in discussions to capture the pulse of the industry.This year, the atmosphere had a different tone—more watchful and cautious—reflecting broader uncertainties about the market’s direction. Below, we’ve compiled 10 key insights from the event highlighting shifting investor strategies, emerging trends, and evolving market dynamics that are shaping the future of multifamily real estate.
Read on for our top takeaways from NMHC 2025...
...Full Story Here
RSK: Not exactly a gleaming positive outlook is it.
Key Commercial Real Estate, LLC
See All Listings Here...
U.S. electricity demand growth through 2027 will be like adding another California
How much electricity are we going to need? A lot. Or more precisely, an "unprecedented" 3,500 terawatt hours for the globe over the next three years. That corresponds to adding more than the equivalent of a Japan to the world’s electricity consumption each year, according to the International Energy Agency, which is out with a new report called, "Electricity 2025: Analysis and Forecast to 2027."Snapshot: "Strong growth in electricity demand is raising the curtain on a new Age of Electricity," per the report. "Electrification of buildings, transportation and industry combined with a growing demand for air conditioners and data centers is ushering a shift toward a global economy with electricity at its foundations." Most of the additional demand for electricity through 2027 will come from emerging and developing economies, led by China, which are expected to make up 85% of the growth.
Perhaps surprisingly, in advanced economies like the U.S., total and per capita demand has stayed relatively flat or even declined since 2009...
RSK: And Data Centers with AI will be increasing usage over 160%. Is our power grid ready for this?
Mullins Group LLC
 2 E Mifflin St Madison, WI |
 22 E Mifflin St Madison, WI |
 152 W Johnson St Madison, WI |
 1400 E Washington Ave, Madison, WI |
 10 W Mifflin St Madison, WI |
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Denny’s to increase store closures
The chain expects to shutter 70 to 90 restaurants in 2025 due to low volumes and lease expirations, compared to 88 store closures last year.
Dive Brief:
- Denny’s plans to accelerate its
closure of lower-volume restaurants this year, with between 70 and 90
expected to shutter, CFO Robert Verostek said during a Wednesday
earnings call. This contraction includes some closures related to lease
expirations.
- The chain closed 88 restaurants
last year, including 30 during the fourth quarter. These units had
average unit volumes below $1.1 million and had been open for an average
of about 30 years.
- Denny’s previously said it planned to close 150 underperforming restaurants by the end of 2025. The new closure forecast means nearly 30 additional restaurants have been marked to shut down. Verostek also said the chain reduced headcount at corporate support centers, but did not provide further details..
...Full Story Here
RSK: I think the one at West Towne area is safely entrenched as a performing location....always seems busy to me...
Properties for Lease or for Sale By Company
ABSTRACT Commercial Real Estate LLC |
The Gialamas Company, Inc. |
Artis Reit |
Key Commercial Real Estate, LLC |
Madison Commercial Real Estate LLC |
St. John Properties |
IA Management, LLC |
Wisconsin Commercial Real Estate |
Park Towne Realty LLC |
Mullins Group, LLC |
Crown |
Flad Development & Investment Corp. |
Evans Properties, LLC |
Keller Real Estate Group |
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MIG Commercial Real Estate, LLC |
First Weber Group, Inc - West Towne |
Opitz Realty, Inc. |
First Weber Group, Inc - Prairie Du Sac |
Peterson Management Company Inc. |
The Lenhart Company, Inc |
Scott Faust & Associates |
Shamrock Real Estate Services, LLC |
Targa, Inc |
Executive Management, Inc |
Stark Commercial - East |
Urban Land Interests |
Slinde Realty Company |
Assist-2-Sell/Pohlkamp & Associates |
Berkshire Hathaway Home Services Matson Real Estate |
Artisan Graham Real Estate  |
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Hovde & Hovde, Inc
...Full Story Here
About CirexNews.com
Ralph Kamps
Editor CirexNews
608.345.2880
Ken Harwood
Publisher CirexNews
608.334.2174
Cirex News is emailed weekly to over 2,000 CRE Brokers/Agents and people interested in commercial real estate. It is online at CirexNews.com. All of our articles are archived and searchable. So a search for "opportunity zone" will bring up dozens of articles on the subject.
In our weekly News & Views you can promote your clients properties and your services
call 608-345-2880 for details...
...Full Story Here