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This Weeks Articles...

In “Billion Dollar Loser,” WeWork’s “epic rise” and Adam Neumann’s quiet enablers
Whoever Wins the Presidential Election, It Won’t Upend Commercial Real Estate Returns
Lidl to install new air filters in all U.S. stores by yearend
AMC to reopen more theaters in the United States
NMHC Rent Payment Tracker
U.S. retailers secure stores as worries about election unrest mount
Gap Inc. announces store closures, off-mall strategy
building for sale - 2238 County Hwy APlatteville, WI 53818
CVS to hire thousands of pharmacy techs as it prepares for more Covid-19 cases, rollout of vaccine
From Detroit to Oakland, pandemic threatens urban renewal
An unused Carnival cruise ship as a floating office
Dunkin’ Brands in talks to be bought by Inspire Brands
Benchmark’s Bill Gurley: We’ll now back startups without offices
A mask startup is rapidly expanding into empty mall stores
https://www.sfchronicle.com/food/article/San-Francisco-restaurants-can-increase-indoor-15662040.php
The Brew Crossword: September 14, 2020
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Hilldale promises long-anticipated Shake Shack opening in October, plus 3 other businesses
MADISON, Wis. (WMTV) - Hilldale Shopping Center will be welcoming four new businesses starting Oct. 1, including the infamous burger chain Shake Shack. According to a news release, fitness center Burn Boot Camp, men’s outfitter Indochino and DIY crafting store Glitter Workshop are included in the list of new openings.   ...more

RSK: I guess this is a big deal...anyone been to a ShakeShack? What is unique about it?

Ken Notes: I have, it is an upscale burger and chicken place with lots of options, try the mushroom burger it is great. I am not sure how we got to $20 fast food lunches but here we are!

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A special Note from Ralph Kamps
It is with a reserved emotion that we have decided to halt operations at several of the restaurants I am involved with. Johnny Delmonico`s, The Avenue Bar & Restaurant and Fresco, all in downtown Madison, will temporarily suspend operations at the end of October. Due to Covid and restricted capacity at 25% and the winter months coming on we feel that it is best until late spring when outdoor dining will once again make sense. I am sure we won`t be the only ones to suspend operations for the winter months. Sad but true.

“We also want to take this opportunity to thank our customers for the support and loyalty they have shown to us, especially during this unprecedented time."...

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Ken Notes: Food Fight has some of the best run facilities in the region, so it is clear this is very real. I wish instead of "stimulus" we had called an economic time out and used the trillions of dollars to cover interest on loans and deferred repayment until the storm passed. We must return Downtown Madison to the vibrant hub it has been for so many years. Without live events, meetings, and tourism not to mention the negative protests and unrest Madison is struggling. It is up to all of us to help bring it back...

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`You Are Partners With Your Tenants Now`: How The Pandemic Has Changed The Landlord/Tenant Relationship

As the coronavirus pandemic continues and companies work to figure out the future of their offices, prominent LA-area office landlords and brokers say that the current climate has forced changes in the ways landlords and tenants interact.

“It’s a different relationship. You [landlords] are partners with your tenants now,” said Silverstein Properties Head of Acquisitions Jeff Grasso at a recent Bisnow webinar. “As a landlord we have to think about how to get people back into the office on their own accord.”

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RSK: Being a landlord ourselves as well as a tenant in some circumstances we see both sides of this. Both need to work together. WFH will not last forever for everyone...

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In “Billion Dollar Loser,” WeWork’s “epic rise” and Adam Neumann’s quiet enablers
Real estate executives had their doubts about WeWork, but many weren’t willing to risk missing out on its success. They and others who kept their criticism to themselves helped enable and then felled the co-working giant once it became clear that its crash would be just as extraordinary as its ascent.

“They couldn’t explain WeWork’s valuation, but they were fearful that Adam [Neumann] might achieve his ambitions —
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RSK: Best inside read of WeWork and Adam. If you only read one article this time...this is the one.

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Whoever Wins the Presidential Election, It Won’t Upend Commercial Real Estate Returns
That’s according to a new Cushman & Wakefield report, which dives back to the late 1970s to show that returns on investment for institutional investors in commercial real estate tend to do well under both Republican and Democratic administrations.

The report worked off data from the National Council of Real Estate Investment Fiduciaries Property Index (NCREIF NPI), which institutional investors in the U.S. use to gauge the performance of commercial estate. Think of it as a guide for deciding what will be a good investment and what won’t. It turns out that the NPI does pretty well whoever’s in the White House.
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RSK: Well, very interesting indeed. But I believe times are much different now and this election could be the game changer. For instance, if 1031 Exchanges are ruled out as well as Opportunity Zones, tax changes on and on.

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Wisconsin Commercial Real Estate

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Our focus is your focus, our goals are your goals.

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What’s at Stake for CRE in the 2020 Presidential Election?

President Donald Trump has made few new campaign promises, but the differences between him and Joe Biden are clear on key commercial real estate issues.

Rosen, chairman of Rosen Consulting Group and Fisher Center for Real Estate and Urban Economics at the Haas School of Business at the University of California, Berkeley, said Biden has proposed eliminating the 1031 exchange to pay for his $775 billion child care and elder care plan. Used to defer capital gains, Trump’s 2017 Tax Cuts and Jobs Act saved the tax exchange utilized for decades by real estate investors.

Biden has also proposed raising the capital gains tax rate for individuals with incomes higher than $1 million and raising the top individual tax rate from 37 percent to 39.6 percent. He has proposed taxing carried interest, used in many real estate partnerships and treated as a long-term capital gain, as ordinary income...
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RSK: Biden has stated that 1031 Exchanges may be on the block and Trump wants more investment into Opportunity Zones including moving Public Buildings and Services into those zones. Much more if you read on.

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Traffic Is Returning Faster to Outlet Centers Than Malls; What Does that Mean for the Sector’s Future?

Outlet centers have not been spared the pandemic’s toll. But their open-air locations and focus on value are major advantages.

When states around the country essentially locked down to help curb the spread of COVID-19, outlet centers, like regional malls, were forced to temporarily shutter, which took its toll on the sector.

“Outlets are one of the property types most impacted by COVID, with very low rent collection in second quarter, though rent collection has improved since stores have reopened,” notes Ana Lai, senior director and real estate sector lead at S&P Global Ratings.

With many stores reopening at limited capacity, COVID-19 is upending much of the retail sector as landlords, in general, are still only collecting less than 80 percent of rent...
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RSK: Mixed messages here on Outlet Malls. I know we have 3 in our Metro Triangle: Oshkosh, Wisconsin Dells and Johnson Creek. However, it seems that they might be better positioned than Regional Malls...

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A wildly hyped $95,000 `Loft` tiny home will be available in the US soon — see inside
Estonia`s Koda will ship the first North America-based Koda Loft, the company`s tiny movable home, to a customer in California this December.

Koda, which is a part of Kodasema OÜ, said it received constant messages from US clients requesting that the company deliver its movable tiny home overseas. The positive response from prospective customers prompted the company to do just that.

Koda currently has satellite offices in Europe, Canada, and now New York.
  • Koda will ship its first North America-based Koda Loft to a customer in California this December.

  • The Koda Loft can be moved on a trailer in one piece, though a crane is required to fit the home into place.

  • The 396-square-foot home has a living room, kitchen, bathroom, and upstairs bedroom.

  • The $95,000 US version will be 86 square feet larger than the Europe iteration to accommodate a stacked washer and dryer and some towel space.
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RSK: City of Madison just approved another 30 mini home park for homeless and others similar to the one by 2nd St and Johnson. Now this mini home is getting closer to what I could live in or a vacation home. Someone needs to make a modular addition that is optional and can expand the space if needed. Now that would be right up my alley.

Ken Notes: We do not need parks for homeless we need parks for small homes for anyone. From the snow bunny headed south for the winter, to the exec who wants a space for game days, not to mention the thousands of service and retail workers who can not afford the Madison market.

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San Francisco Rents in Free-Fall. New York Rents Swoon. Expensive Cities, College Towns, Cities in Texas, Other States Sag. But in 16 Cities, Rents
Yves here. New York City not all that long ago showed year-to-year declines in rental prices (as opposed to soft price cuts via landlord concessions) due to an apartment building boom putting a lot of new units on the market. But the Covid-19 rent reductions are another matter entirely.

Even though the outlook for New York City is particularly grim due to the loss of revenues from commuters and tourists, the idea that the “work at home” new normal will survive Covid-19 is overstated. A recent Wall Street Journal compilation of interview finding with major company CEOs found that overwhelmingly they viewed remote working a negative for their business. They saw the loss of informal interaction as a major cost, and most also believed productivity was lower. So expect to see an eventual return to offices. But will those offices be in the same major urban centers?...
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RSK: Madison is #41 on The Largest 100 rental markets with a year to year 5.8% decline and a 1,130 single bedroom price point.

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Lidl to install new air filters in all U.S. stores by yearend
Lidl US is upgrading its ventilation system to help stop the spread of COVID-19.

The discount grocer announced that it will install new air filtration systems rated MERV 13 or higher in all of its U.S. stores by the end of this year.  Lidl said that air filters rated MERV 13 or higher are typically found in hospitals and can help filter out COVID-19....


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RSK: There will be more of this and even when this pandemic subsides it will be a good investment.

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Turning a dead mall into a warehouse will slash its value as much as 90%, Barclays predicts
In the coming years, hundreds of America’s roughly 1,100 malls are expected to shut, as retail, restaurant and movie theater closures pile up, and more people favor shopping on the internet over heading to the store.

Key Points
  • Turning dead malls into fulfillment centers, apartment complexes, schools or medical offices could mean massive writeoffs in property values, according to a new Barclays report.

  • Turning a shuttered mall into an e-commerce warehouse or a residential complex could reduce the value of the property anywhere from 60% to 90%, the firm said.

  • The firm predicts 15% to 17% of U.S. malls will need to be redeveloped into other uses longer term.

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RSK: Not only will it devalue but if converted to apartments etc. it will cost a pretty penny to convert.

Ken Notes: Try first to create destination retail at the site. Then mixed use for abandoned anchors. Finally fulfillment / housing...

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Mid-America Real Estate Group
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Mid-America Real Estate - Wisconsin, LLC offers the same high level of service in property leasing, asset management, tenant representation and investment sales for which Mid-America has become known.

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This tiny home on wheels skyrocketed in popularity amid the pandemic — see inside the $70,300 `Natura`

The Tiny Housing Co has created the Natura, an environmentally friendly tiny home on wheels with a lofted bedroom.

The tiny house, which sits on a trailer for easy transport, was built to be both eco-friendly and luxurious. It`s also not the only little living unit that the UK-based tiny home builder has in its lineup: the curved Natura is joined by the Nomad, Endura, and Itinerant 1L, all with varying floor plans and exterior designs.

  • The Tiny Housing Co has created the Natura, an environmentally friendly tiny home on wheels with a bedroom, living room, kitchen, and bathroom.

  • To emphasize the importance of eco consciousness in the build, its maker included solar panels, a water filtration system, “efficient” insulation and appliances, sustainable materials, and the option to upgrade to an Eco Package.

  • The Natura build recently skyrocketed in popularity amid the pandemic, receiving three times more webpage visits than any other tiny home that the UK-based company offers.
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RSK: My Tiny Home of the month.....not for me unless you double the size but possibly for a weekend in Door County? I like the idea of a "Tiny Town" with "Tiny Homes". May be an alternative to homelessness?

Ken Notes: Remember housing should be a mix, I like tiny over subsidized affordable - We need to create housing that provides a path up, not an incentive to stay where you are.

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Pummeled by the Pandemic, Hotel Owners Get Creative With Their Space

As the hospitality industry grapples with a severe downturn, owners are turning hotels into offices, schools, emergency housing, wedding halls or homeless shelters.

Like many hotels pummeled by the pandemic, the InterContinental Times Square is trying to hang on.

After tourists stopped arriving this spring, the 607-room property transformed into housing for doctors and nurses treating coronavirus patients. When they checked out, the high-rise began offering blocks of rooms as office space. And with its reopening this month, the InterContinental will again play office landlord, this time on a suite-by-suite basis.

“We’re trying to be creative,” said Gul Turkmenoglu, the general manager, “and hope our ideas take off.”...
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RSK: You guessed it...there are pros and cons to this deal.

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On the Hunt for Office Space, Companies Stay Low to the Ground

Groundscrapers have been considered less exalted than their soaring brethren, but their ability to house an entire company on a single floor has made them more desirable in the pandemic.

The skyscraper, the iconic urban office tower, still captivates by offering jaw-dropping views and the thrill of hovering in the clouds. But the skyscraper’s opposite — a building as horizontal as a skyscraper is vertical — has been grabbing attention: Make way for the groundscraper...

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RSK: Other than Chicago most properties in the Midwest are Groundscrapers to some extent.

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AMC to reopen more theaters in the United States
(Reuters) - AMC Entertainment Holdings Inc AMC.N, the world`s largest theater chain, said on Monday it plans to open more cinemas in the United States this week, offering some hope to an industry hammered by pandemic restrictions and sending its shares up 24%.

The company said it will reopen about a dozen locations in New York state starting Oct. 23, following guidance from Governor Andrew Cuomo over the weekend, and plans to have more than 530 theaters open in the country by the end of the month....
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RSK: Many conflicting reports on this. Seems like it depends on States or local governmental bodies to make this decision. Won`t happen in our Dane County for some time. As the article states, small chains and independents probably will not make it through.

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Here`s how the COVID-19 pandemic impacted drive-thru operations at quick-service restaurants

The annual study of drive-thru performance of 10 major brands also took a look at how restaurants are implementing COVID-era precautions

Market research agency and mystery shopping company SeeLevel HX has released its 20th annual QSR Drive-Thru report, a breakdown of drive-thru performance from 10 major quick-service brands. This year, the study took a look at a brand-new factor in analyzing drive-thru operations of major brands: the COVID-19 pandemic. The study broke down the percentages of brands surveyed that followed specific COVID-era safety protocols, from employees wearing masks and gloves, to how they handled contactless pickup.
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RSK: I guess if you are worried that much about a person handing you your bag of food (you can always wash your hands and wear a mask) then I would not go to that place...in fact maybe not even go out at all until you feel safe...or go with delivery, however they have to touch your food at some point in time as well. Still think most transmissions come from droplets from humans not so much from touch. You have to inhale the virus.

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COVID-19 Driving Wider Price Disconnect Between Commercial Property Buyers and Sellers in U.S.

Investors Place Greater Importance on Tenant Quality, Lease Term than Pre-Pandemic

A new U.S. commercial property survey by CBRE finds a wide disconnect on pricing expectations between buyers and sellers as a consequence of the COVID-19 pandemic that is weighing on commercial investment activity.
 
The CBRE survey found that 61% of buyers are looking for discounts from pre-pandemic prices and only 9% of sellers willing to offer such discounts. Among buyers looking for discounts, nearly three-quarters were for office or retail properties. For suburban office, 95% of investors were looking for discounts, with no sellers willing to reduce their price....
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RSK:This is not just large office properties but on every level...the disconnect on what a seller feels the property is worth and what an investor senses because of the upped risk involved. No matter what, the market usually dictates what a property will sell for. Mark up is just that it is an asking price and what people are willing to pay will balance it out.

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NMHC Rent Payment Tracker
The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 90.6 percent of apartment households made a full or partial rent payment by October 20 in its survey of 11.4 million units of professionally managed apartment units across the country.

This is a 1.8-percentage point, or 199,224-household decrease from the share who paid rent through October 20, 2019 and compares to 90.1 percent that had paid by September 20, 2020. These data encompass a wide variety of market-rate rental properties across the United States, which can vary by size, type and average rental price....
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RSK: Better than I thought it would be.

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OCTOBER 2020 - Cirex Digital Version

  • Hundreds of property listings, organized for easy browsing.
  • New properties are featured every month.
  • Property/Drive CIREX Members alphabetically listed in our extensive directory.
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U.S. retailers secure stores as worries about election unrest mount
LOS ANGELES/CHICAGO (Reuters) - This time last year, shoppers on Chicago’s Magnificent Mile were waiting for Louis Vuitton to debut its whimsical holiday window decorations. Now those same windows are hidden behind a wall of wood panels painted bright orange.

While still open for shoppers, stores like Gucci PRTP.PA, H&M HMb.ST and Nordstrom JWN.N are also boarded up after looters targeted the city`s famed retail district in the spring and summer, when protests gripped more than 100 U.S. cities...
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RSK: Sad but probably true. Good time to be in the plywood business.

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Behind the growth and shifting nature of the pet industry
When it comes to their pets, many Americans are more willing than ever to pull out all the stops to keep them healthy and happy. In fact, the pet product industry has seen year-over-year spending increase 450% over the last 25 years, and consumers now spend $49 billion annually on pet food, supplies and treats, according to data technology company SPINS.

Today’s pets are being treated more like members of the family, and along with that comes shifting ideas about the types of products people purchase for them.

“The humanization of pets has been the status quo for several years, but this mindset of pets plus people plus premium preferences is driving today’s trends and shifts,” said Amy Kerr, director of client development for the pet industry with SPINS...
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RSK: The pandemic has greatly increased the adoption of dogs and cats as well. This in turn helps boost this industry....I know first-hand...our pups are like kids to us.

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A Singaporean prefab tiny-home maker says 70% of its customers are in the US — see inside its coming $21,000 `Legend One` offering
Nestron has plans to manufacture an eco-friendly, $21,500 tiny home known as the Legend One.

The company, which was founded three years ago, has two tiny-home "series" in its current product lineup: the Legend and the Cube, which have differing exterior appearances but similar interior amenities, like eco-friendly components and an artificial-intelligence system.
  • Nestron plans to manufacture the Legend One, an eco-friendly $21,500 tiny home with a bedroom, living room, kitchen, and bathroom.

  • For $12,500 more, the 167.92-square-foot home — which is available for preorder — can come fully furnished and move-in ready.

  • The Legend tiny-home lineup was designed to appeal to the traditional tiny-home customer who is drawn to container or cabin homes.
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RSK: Hopefully you can put 2 of these together and would have a great little vacation home in Door County.

Ken Notes: I believe we could develop well designed, architecturally excellent units to serve as more market rate affordable housing. There is a village for homeless vets in the Milwaukee area.

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Landlords are getting squeezed between tenants and lenders
NEW YORK (AP) — When it comes to sympathetic figures, landlords aren’t exactly at the top of the list. But they, too, have fallen on hard times, demonstrating how the coronavirus outbreak spares almost no one.

Take Shad Elia, who owns 24 single-family apartment units in the Boston area. He says government stimulus benefits allowed his hard-hit tenants to continue to pay the rent. But now that the aid has expired, with Congress unlikely to pass a new package before Election Day, they are falling behind...
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RSK: This is also happening in the CRE sector not just Residential Income. We have found however, most lenders are happy to work something out.

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building for sale - 2238 County Hwy APlatteville, WI 53818
Right out of History! Secluded approach opens to this timeless,elegant, artistic and romantic combination of modern & antique.The main residence consists of dismantled and then re-mantled over 3 years, a Cornish miners cottage(1830ish), 2 story Norwegian family home (1870ish), house/barn (1860ish) & a central standard construction portion to strategically combine the 3 structures in 1990 on full concrete basement & a new sun/pub room addition. The "Cabin Life" rental is hand hewn notched doweled & spiked pine logs built from scratch by owners that took 2 yrs. The "Back Again" rental is a one and a half story home(1870ish) with a sun filled addition built with the Stones of a barn foundation moved Stone by Stone and rebuilt. Private wooded grounds w/ gardens & hobby vineyard apx 5 yrs old...
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Gap Inc. announces store closures, off-mall strategy
Gap Inc. is moving away from the mall.

The struggling apparel giant revealed its new "Power Plan 2023" strategy to return the company to profitable growth at its virtual investor meeting on Thursday. The strategy emphasizes expanding its higher-profit Old Navy and Athleta brands, tweaking and reducing product assortments and reducing and rethinking its store footprint in a move away from traditional shopping malls.

“We’re the biggest retailer in North America,” Sonia Syngal, Gap Inc. CEO, told investors. “We’re closely watching the economy, the retail landscape and the competitive environment to evaluate how we can strategically play to win; how we can do things that only we have the authority to do.
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RSK: I am betting you will see more of these Mall Stores go to strip malls and life style centers like TJ Maxx and Five Below have done.

Ken Notes: Long before the pandemic Kohls determined it was better to be a destination rather than a also here player...

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ARTIS REIT / Madison Lifestyle Office Portfolio


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Madison Lifestyle Office Portfolio comprises 16 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.

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Persuading Workers To Come Back To The Office Still A Tough Sell
More than six months into the coronavirus pandemic, only about a quarter of office workers have returned to their places of work, a new study has found.

The number of office workers physically at the office on any given workday is particularly anemic in Manhattan, at about 10%, reports The Wall Street Journal, citing data compiled by CBRE. Workers are still skittish about using mass transit, and in some cases need to be home with children who are not physically in school. Suburban New York has about a third of its workers at the office, while metro Dallas has about 40% and metro Los Angeles about 32%.
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building for lease The Constellation 754 E Washington Ave, Madison, WI 53703
Rare opportunity to lease upscale techy office space in the exclusive Constellation mixed-use development. Balconies, large windows and 14` ceilings create an open space, allowing for an abundance of natural light.
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Ruby Tuesday files for Chapter 11 bankruptcy, citing ‘unprecedented impact’ of COVID-19

Ruby Tuesday will permanently close 185 stores that had shut their doors during the pandemic, leaving 236 operating locations

Maryville, Tenn.-based casual-dining restaurant chain Ruby Tuesday on Wednesday filed for Chapter 11 bankruptcy protection, citing the “unprecedented impact” of the COVID-19 on their business.

The NRD Capital Management-owned chain will be closing 185 stores that had been temporarily shuttered during the pandemic, or almost one third of the restaurant chain’s unit portfolio. The remaining 236 company-owned restaurants will operate as usual while Ruby Tuesday uses the filing to “strengthen its business by reducing liabilities and emerge a stronger organization built for the future.” As of Wednesday, the company also had 7,000 company-wide furloughed employees as a result of the store closures...

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RSK: The slow slaughter begins. Ruby joins Golden Corral in filing for bankruptcy. This is only the beginning. Many more before end of the year. Unless you have a good product for drive thru or pick-up delivery you may not make it until then.

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July Is the New January: More Companies Delay Return to the Office

From Ford to Microsoft, white-collar companies are increasingly extending working from home through next summer.

When the coronavirus pandemic shuttered offices around the United States in March, many companies told their employees that it would be only a short hiatus away from headquarters.

Workers, they said, would be back in their cubicles within a matter of weeks. Weeks turned into September. Then September turned into January. And now, with the virus still surging in some parts of the country, a growing number of employers are delaying return-to-office dates once again, to the summer of 2021 at the earliest....

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RSK: Would love to hear from you on your office situation here in S.C.Wis. Are you holding back, going at 25%, full boar, a mix? Let us know.

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CVS to hire thousands of pharmacy techs as it prepares for more Covid-19 cases, rollout of vaccine
CVS Health said Monday that it wants to immediately hire 15,000 employees to prepare for an expected rise in Covid-19 and flu cases this fall and winter.

More than 10,000 of those will be full-time and part-time licensed pharmacy technicians who can help dispense medications and administer Covid-19 tests.

Key Points
  •     CVS wants to immediately hire 15,000 employees to prepare for an expected rise in Covid-19 and flu cases this fall and winter.

  •     More than 10,000 of those will be full-time and part-time licensed pharmacy technicians who can help dispense medications and administer Covid-19 tests.

  •     The expanding staffing could also help CVS prepare for the rollout of the Covid-19 vaccine, if federal officials allow pharmacy technicians to administer it.
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RSK: My bet is you will see a few more CVS Buildings pop up over the next several months. If you have a sight I would contact them. They may even use existing temporary sites to fill the need rather than wait for new construction. This Covid and other health distribution entities will become a major property buyer in the bear future since viruses will not be going away anytime soon.

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Commercial Brokers Group, Inc.
Still canceled most events...

2019 Deal of the Year Presentation

View the 2019 Deal of the Year Awards presentations here.
Congrats to all the winners and nominees.

2018 DOY Presentation with Photos is Here!



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building for lease Williamson Center 744 Williamson St, Madison, WI 53703
Join the fun and walkable Williamson St neighborhood just 7 blocks from the Capitol Square. 3rd floor renovated office space in a historic building featuring exposed wood ceilings and wood floors, dedicated HVAC system, openable windows, and dedicated server room...
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From Detroit to Oakland, pandemic threatens urban renewal

DETROIT (AP) — Downtown Detroit was returning to its roots as a vibrant city center, motoring away from its past as the model of urban ruin.

Then the pandemic showed up, emptying once-bustling streets and forcing many office workers to flee to their suburban homes.

Anthony Frank, who manages Dessert Oasis and Coffee Roasters on Griswold Street, said everyone loves Detroit’s comeback story, but a 20% drop in business has been difficult to handle.

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RSK: And it is not just the pandemic causing some of the fears of being, investing in renewals in downtown cities.

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Last Cheeseburger in Paradise unit closes permanently in Secaucus, N.J.

Parent Luby’s Inc., which also owns Fuddruckers, is in the process of liquidating assets

The last Cheeseburger in Paradise restaurant has closed permanently in Secaucus, N.J., as parent Luby’s Inc. continues with its planned liquidation process.

In 2012, when Luby’s acquired Cheeseburger in Paradise, the casual-dining brand had 23 units. The last New Jersey unit had suspended operations in March when the COVID-19 pandemic was declared, according to a local report.
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RSK: I used to love CBIP but they became sloppy and loose with their quality and product. Was a fun run albeit a short one. Fuddruckers carry’s on however.

Ken Notes: Restaurants over 6,000 sq feet are going to be tough sledding in any market for some time to come.

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MTA Proposes New Percentage-Based Rent Agreement for Grand Central Restaurants

The proposal needs the approval of the MTA board, which is set to meet later this month

With subway and train ridership still seeing major declines from the same time last year, transportation hubs like Grand Central Terminal remain virtually empty, significantly impacting the businesses within them. More than six months into the pandemic, the Metropolitan Transportation Authority is now proposing a new rent agreement for its Grand Central tenants, in the hopes that businesses will be able to stay afloat.

Under this new proposal, the agency will take a percentage of rent from the restaurants and other small businesses in GCT that will be based on gross revenue, according to Janno Lieber, the MTA’s chief development officer and the man overseeing the plan. Lieber declined to say what that percentage will be, but said the agency is in talks with the businesses to settle on a figure...
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RSK: I believe you will find more and more landlords going to this scenario with restaurants...it can be a win/win and of course a lose/lose as well.

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The Most Popular Halloween Candy in Each State
If you`ve ever argued that no one actually likes candy corn, you`re probably not from Alabama, Iowa, Idaho, Michigan, New Mexico, Nevada, or Rhode Island. The controversial confection is a favorite treat among residents in those states, according to sales data from online candy retailer CandyStore.com.

As they`ve done for more than a decade, the bulk candy retailer combed through 11 years of data (with a particular focus on the months leading up to All Hallows` Eve) to gauge America’s top-selling sweets. They created the interactive map below to display their results...
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RSK: My fun graphic of the week...who knew Wisconsin would be the only state to pick this candy for their favorite.

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The Gialamas Company, Inc.

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The Gialamas Company`s premier development. The park has over 57 buildings containing 200+ companies, occupying over 3.0 million square feet.

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Fazoli’s turns ghost kitchen chicken wing concept into permanent brick-and-mortar menu addition

From dark to light: Fast-casual chain used its restaurants as dark kitchens to test virtual brand Wingville; high demand and ROI results prompt Fazoli’s to add chicken wings to core menu this week

Following a successful test of using its restaurants as dark kitchens for a delivery-only product, Fazoli’s is adding chicken wings to its brick-and-mortar menu starting Sept. 30.

The fast-casual Italian chain has been experimenting with chicken wing concept Wingville for more than a year. During the pandemic, the brand expanded the test to nearly a dozen locations, using its restaurants as “dark” or ghost kitchens to prepare the virtual restaurant brand. Restaurants selling wings saw sales increase by 11%, the Lexington, Ky.-based company said....
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RSK: You will see more and more of this. Less labor, less brick n mortar some restaurants just might make it out of the pandemic.

Ken Notes: We could learn from Canada here, many morning bakery and coffee shops become evening pizza places. A lot or multiple use concepts exist. My favorite is the coffee shop / sauna...

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Shoppers Return to Ikea and Other Furniture Stores In Droves
Shoppers are flocking to Ikea and other furniture stores even more than they did last fall, new foot traffic data shows.

Although the number of visits to Ikea stores nationwide fell from May through July compared to 2019, foot traffic to the Swedish furniture giant rose 8 percent year over year in August, according to retail analytics firm Placer.ai. The number of visits only rose more in the first few weeks of September, increasing 10.9 percent year-over-year between Aug. 31 and Sept. 21...
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RSK: I find this very interesting. There are some things you just need to touch and feel in person to verify your purchase. Plus, it is hard to return a large sofa that was bought on line. I was thinking last week I have not seen any Bob`s Furniture commercials in a long time and then wham...saw several the next day.

Ken Notes: Amazon wants into this market and will need regional distribution "stores" to accomplish this. My crystal ball suggests they will eventually acquire a major retailer with affordable brick and mortar. Kohls??

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More Than Half Of Tech Companies Plan To Dispose Of Real Estate In Coming Months
Technology companies across the country expect to need less office space in the coming years, a sign of falling demand in the commercial real estate market.

Tenant representation firm Savills released a survey Thursday of 250 technology companies that found 82% anticipate needing less office space over the next 12 to 18 months, and 55% plan to dispose of existing space over that time period....
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RSK: This will be interesting to follow as well. Will less sq. ft. per employee equal slightly more in price per/sf or will more sg. ft. for safety purposes mean less price per/sf? Food for thought.

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An unused Carnival cruise ship as a floating office
An unused Carnival cruise ship could soon become a floating office where techies, YouTube influencers, and `digital nomads` can live and work remotely

The cruise ship-turned-office would fit 2,000 people who would have access to fitness classes, a swimming pool, and a 5,000-square-foot theatre.
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RSK: Why does this seem like a submarine with a screen door to me?

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Offices, Hotels, and Restaurants Will Eventually Fill Back Up—But With Long-Term Structural Changes
With office closures, strict limits on restaurants, and drastically reduced foot traffic at retail shops and small businesses, the state of the commercial real estate market is a far cry from the bustling activity currently seen in the residential sector.

But signs of life are already returning, and there’s plenty of cause for optimism in the longer term, said panelists on Day 2 of Mansion Global’s inaugural Luxury Real Estate Conference on Wednesday....
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RSK: Demand may be there but the 25% limit rule and safety factors are keeping many a way.

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Dunkin’ Brands in talks to be bought by Inspire Brands

The owner of Arby`s, Sonic Drive-In, Buffalo Wild Wings, Jimmy John`s Sandwiches and Rusty Taco could announce the purchase of the Dunkin` and Baskin-Robbins brands as soon as Monday

Dunkin’ Brands Group Inc., parent company of the Dunkin’ and Baskin-Robbins chains, is in talks to be purchased by Inspire Brands, which would take the company private, a Dunkin’ executive confirmed Sunday.

According to a report in The New York Times, citing “two people with knowledge of the negotiations,” the deal could be announced as early as Monday and would involve the purchase of Dunkin’ Brands shares at $106.50 for a valuation of around $8.8 billion...

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RSK: And the consolidation of fast and fast casual restaurants continues.

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CARW 2020 Events and Resources

CCIM 104

October 27 @ 8:30 am - 4:30 pm   

CI 104 encompasses the entire life cycle of an investment, from refinancing to capital improvements to disposition. Within each case study, you will encounter a key investor decision: Should a non-taxable investor acquire an investment with or without debt financing? What if the investor is taxable? During the holding period of an investment, should an investor make a discretionary capital expenditure or not? How does an investor evaluate disposition alternatives?

Commercial Real Estate Resources:


REALTOR CV Addendum:


Organizer CARW

Phone: 414-271-2021
Email: info@carw.com

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Ken Notes: Thank you Tracy Johnson President and CEO of CARW for keeping me in the loop. Note CARW events have all moved online and I have not found another organization that has reacted as effectively as CARW to the new realities....

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building for sale Lighthouse Properties, LLC 15850 W Bluemound Rd, Brookfield, WI 53005
Great 4 Story Office building in Brookfield. Across from Brookfield Square Mall. Great potential for value add. Roughly 9.15 Cap. Seller is engaging in a 1031 Exchange.
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Amazon Leads Growth in E-Commerce Warehouse Space
Real estate brokerage Colliers International Group crunched the latest retail warehouse occupancy stats for the WSJ. Hockey stick factories wish they had this much up-and-to-the-right energy.
  •     The net change in occupied big box warehouses rose 51% in H1 of 2020, to nearly 79.8 million square feet.

  •     Occupancy rates for warehouses of 750,000+ sq. ft. in H1 more than doubled the total rate in 2019.

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RSK: Warehousing is the Sector to be in now and in the foreseeable future. Daily I see broadcast over our CRE Data Base of people looking for warehouse and flex space.

Ken Notes: watch for Amazon to make a play for failing retail to serve as local delivery / pick up hubs....

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Trump Tax Saga Shines Spotlight on Benefits of CRE Ownership

Depreciation, debt write-offs, tax credits and other measures are among the tax avoidance benefits inherent in the sector.

It may seem like a lifetime ago, but before news of the ongoing COVID-19 outbreak involving President Trump, White House staffers, Republican politicians and others, the New York Times stirred up a political firestorm surrounding President Trump’s personal finances with a new investigation revealing a staggering amount of business losses over the past two decades. The headline grabber was that he paid just $750 in personal federal income taxes in 2016 and 2017 and nothing in 11 of the 18 previous years. Additionally, the article said he claimed a total of $1.4 billion in losses from his core businesses for 2008 and 2009 and collected a $72.9 million refund for the 2010 tax year...
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RSK: One of the items that may be on the chopping block after the election is the 1031 Exchange for CRE. That would be a big minus for development and growth in many cases.

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Benchmark’s Bill Gurley: We’ll now back startups without offices

June survey found most VCs shied away from all-remote companies

No office, no problem, according to one of Silicon Valley’s major tech investors.

In a concerning turn for commercial landlords hoping that tech companies will fill office buildings, Bill Gurley of Benchmark said an office is no longer a criteria for the startups that his venture capital firm funds...
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RSK: A bit concerting for office owners and managers.

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Macy`s turned 2 locations into `dark stores` that fulfill online orders and don`t have in-store shopping
Macy`s is running a "dark store" test ahead of the holiday season.

The company has turned two of its department stores into Omni Service Centers focused on pickup services and fulfillment, not in-store shopping.
  • Macy`s has turned two stores — in Dover, Delaware, and Littleton, Colorado — into Omni Service Centers focused on fulfillment and order pickup.

  • A company representative said in a statement to Business Insider that the test is in response to "an increase in demand across the network to get our customers their product when and how they want it."

  • "Dark stores" — or locations dedicated exclusively to processing online orders — are becoming more common in retail.
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RSK: Interesting experiment and many will be keeping an eye on this to see if it can work in their situation...and not just retail.

Ken Notes: I promise that Amazon will eventually make a play in this space to create local distribution / fulfillment / retail outlets. Especially as they enter the appliance and auto markets...

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Reinhart Boerner Van Deuren s.c.

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With the largest Real Estate Practice of any law firm in Wisconsin, Reinhart offers clients custom-tailored real estate insight.

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CDC classifies in-store Black Friday shopping as `higher-risk`
The Centers for Disease Control and Prevention wants shoppers to avoid crowded stores on Black Friday.

The CDC released guidance with regards to preventing the spread of COVID-19 during the upcoming holidays, starting with Halloween. It includes, among other things, a recommendation that shopping be done online rather than in person on the day after Thanksgiving (Black Friday) or the next Monday (Cyber Monday). ..
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RSK: Obviously there will be more online shopping than ever. But, there are those who like to shop in-person...the thrill of getting the deal for many, almost like a gambling habit. To those I say "Mask UP" and go.

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Bored with your flat pack furniture? - IKEA will buy it back

LONDON (Reuters) - People tired of their flat pack IKEA dressers, drawers, cabinets and tables will now be able to sell them back to the furniture retailer for resale in its stores as secondhand.

The world’s biggest furniture group, said on Tuesday the “Buy Back” initiative was part of its aim to become “a fully circular and climate positive business by 2030.”...

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RSK: Great idea. I am sure there is little to no profit in this for IKEA but it keeps the system and employment moving and in many cases, that is the best we can do at the moment...stay afloat in the sea of Covid.

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Small gyms devastated by coronavirus fear, restrictions
NEW YORK (AP) — There’s little evidence of Americans’ passion for fitness at the tens of thousands of small and independent gyms around the country.

Gyms, health clubs and workout studios began reopening in late spring following government-ordered shutdowns aimed at halting the coronavirus spread. But most are only allowed to have a fraction of their regular clientele onsite at one time. And some clients are staying away for fear of catching the virus.

The International Health Racquet & Sportsclub Association, an industry group, estimates that gyms, health and fitness clubs lost an aggregate $13.9 billion during shutdowns as of Aug. 31. The group warns that without government help, at least a quarter could close by Dec. 31 as limits on indoor workouts continue....
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RSK: I totally understand this. I used to go to my gym 7 days a week  but now no more than 2. I go after lunch when the fitness class that used to have 20 plus people now has 5 or6 is almost done. I am usually on of 3 or 4 people there and when I am halfway through my routine more often than not the only one. The staff, other than trainers has been cut down to 2 people other than the owners. Yet many of us continue to pay the monthly fees. Why? Because we love our gym and all it`s people. We have met many friends there over the years. We all hope they can survive...

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A mask startup is rapidly expanding into empty mall stores
New York (CNN)Covid-19 Essentials is a pandemic-specific store for all your pandemic-specific needs, and the growing business already has eight locations at malls across America.

The company sells a wide variety of more fashionable face masks and even makes personalized masks on location using materials like cotton and silk. Those willing to fork over a bit more -- $129 to be exact--can opt for an "electric mask" sold at the store that has a rechargeable battery and "a fan in it to cool the face," said Nadav Benimetzky, co-founder of the chain...
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RSK: Well one adaptive use for vacant Mall space that takes advantage of the times.

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How Bed Bath & Beyond Reversed Its Comparable Sales Slump
Crank “The Final Countdown” and stretch for some stair sprints. It’s time for a turnaround montage, courtesy of an unlikely home goods retailer.

Bed Bath & Beyond reported its comparable sales rose 6% in the three months ended August 29—the first time the all-important metric has increased at B-cubed since 2016. Its e-comm sales jumped 89%.

Right place, right time. Anyone in the redecoration biz is enjoying a quarantine boost, Bed Bath & Beyond included. Across retailers, housewares sales increased 28% in the three months ending in August, per the NPD Group...
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RSK: This will make a few women happy and me as well. That store is so much more than Bath...the Beyond has a lot going for it. Hope they continue to slug it out and keep up with the creative shopping experience.

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building for lease 1224 E Brady St Milwaukee, WI 53202
Join one of Milwaukee`s busiest and most populated districts on eclectic Brady Street! This high traffic area is perfect for a retail or office user. The property features large front windows, wood floors, fiber internet, and basement storage.
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Johnny Delmonico`s


130 S. Pinckney St.Madison, WI
608.257.8325
Hours Wednesday - Sunday 4:30PM - 9:00PM


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Pandemic-Inspired Tech Innovations

“To effect change, there must be a stimulation of a magnitude that means companies cannot do anything but make bold decisions to survive. COVID-19 is that magnitude.” — Stuart Carlaw, chief research officer for technology analysis firm ABI Research

  • Japanese start-up Donut Robotics has devised a smart mask called C-Mask. It can be worn over fabric-based masks and connects to an app via Bluetooth, enabling it to transcribe speech to text messages that are sent via the user’s smartphone....

  • Meanwhile, Detroit-based Redcliffe Medical is marketing its own mask design. LEAF is a transparent device composed of medical-grade silicone...

  •  MIT created a robot designed to disinfect spaces by emitting UV light...

  • Another robot, StrikeForce, comes from XENEX Disinfection Systems uses a xenon lamp to generate bursts of high intensity ultraviolet light...

  • India’s TechMax - Sparshless solution, which allows touchless elevator unit operations. ..

  • Calif.-based FreshBytes the online ordering system allows customers to scan a QR device to view the menu, order and pay directly from a mobile device...

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RSK: I love this. Out of a bad situation people and innovation arise.

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https://www.sfchronicle.com/food/article/San-Francisco-restaurants-can-increase-indoor-15662040.php

San Francisco - Restaurants can soon raise their indoor capacity to 50% capacity.

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RSK: Can`t wait until we can do this here in Madison Area. Will be awhile.

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Drive-thru times at fast-food chains slow by nearly 30 seconds as demand soars during pandemic, study finds

Key Points
  • Average drive-thru times slowed down by nearly 30 seconds across 10 national fast-food chains, according to the annual study by SeeLevel HX.

  • The coronavirus pandemic has pushed many consumers to favor drive-thru lanes as a safer and more convenient option.

  • The study also showed for the first time that digital menu boards, which it said 23% of locations were using, resulted in faster drive-thru times, shaving off an average of 12.3 seconds....
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RSK: God forbid if you lose 30 seconds waiting for your meal...You probably didn`t even know it since you were texting or tweeting on your phone and totally clueless that you should move ahead 2 cars...

Ken Notes: The issue is not the order to delivery time, it is the fact that ther are 20 cars ahead of you. We need more like Portillo’s where the come to the car during rush hours...

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These 35 retailers and restaurant companies have filed for bankruptcy or liquidation in 2020
2020 has been a hectic year for retail bankruptcies.

The previous year saw a number of well-known national and regional retailers file for both Chapter 7 and Chapter 11 bankruptcy. This resulted in everything from outright liquidation to financial reshuffling.

But as the coronavirus pandemic roils the industry, more major retailers and restaurant chains have now filed for bankruptcy in the first nine months of 2020 than all of 2019.
  • A number of retailers and restaurant companies have filed for bankruptcy in 2020.

  • Not all bankruptcies result in outright liquidation.

  • Companies can also use bankruptcy as an opportunity to turn things around financially.
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RSK: I am betting this list will double in the next few months. Sad indeed.

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The We Company is changing its name back to WeWork
The We Company announced Wednesday that it is changing its name to WeWork — again.

The coworking startup launched in 2010 as WeWork, and opted to rebrand as The We Company in January 2019 as it ventured outside of office space into residential and educational units. And after nearly two years, the company is returning to its original name.
  • The We Company said Wednesday it is rebranding back to WeWork, nearly two years after it first made the name change.

  • In January 2019, the company opted for a new brand name to reflect its venture beyond its core product, coworking areas, into residential and educational spaces.

  • WeWork has been grappling with slowed business during the pandemic, with large vacancies in its coworking spaces throughout its many markets.

  • The name change also comes a year after the company`s failed IPO filing, which revealed to investors the state of its shaky finances and business practices and resulted in the ousting of cofounder and then CEO Adam Neumann.
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RSK: The latest in the We Saga..sorry the WeWork saga.

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building for lease 2531 Monroe St Madison, WI 53711
Located on busy Monroe Street, next door to Laurel Tavern, a landmark business. Exterior seating available for those warm weather months, great visibility for both walk-up or drive-by.
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Chicago In Focus, As Industrial Becomes Real Estate’s New Darling
Much has been written about the pandemic-precipitated problems plaguing real estate`s commercial sector. But with office and retail-oriented real estate feeling the ill effects of COVID-19, there`s one sector that seemingly remains in the pink of health.

That is the commercial real estate industry`s industrial sector, comprised of factories, warehouses, distribution centers, fulfillment centers, data centers and similar real property. JLL JLL -0.2% recently reported e-commerce represents half its U.S. leasing activity, an increase from the 36% number registered prior to the onset of COVID-19...
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RSK: This sector has been the darling of CRE for a few years now. Still no word if Amazon is going to make JCP stores into distribution last mile centers. Cost may be to steep to retrofit...might be less expensive and more efficient to start from scratch...

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Knight Barry Title Group

                       608-255-2700  www.KnightBarry.com
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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

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JCPenney Moves Forward With Closures of 140-Plus Stores as It Seeks to Exit Bankruptcy
J. C. Penney Company Inc. is moving forward with brick-and-mortar closures as it seeks to exit bankruptcy.

In a Thursday filing with the United States Bankruptcy Court for the Southern District of Texas, the beleaguered chain revealed that it is set to shutter 144 stores across the country. The locations are part of JCPenney’s plan to shut down 242 locations, announced five months ago in its Chapter 11 filing...
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RSK: Still, the jury is out whether Amazon will be taking a few stores to use as last mile delivery centers.

Ken Notes: J.C.Penney is trying to put together a REIT to pull money for operations out of the Brick and Mortar they own. Valuation will be very interesting here...

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Kroger brings ClusterTruck ‘ghost kitchens’ on-premise for meal delivery

Supermarkets in Indianapolis and Dublin, Ohio, house delivery-only restaurant

Following a successful pilot, The Kroger Co. is launching two “ghost kitchens” with partner ClusterTruck inside stores in metropolitan Indianapolis and outside Columbus, Ohio, for on-demand delivery of fresh-made meals.

Unlike off-premise “dark kitchens” or commissaries, the on-premise concept repurposes about 1,000 square feet of space at each store to create a culinary area for ClusterTruck staff to prepare meals for quick delivery and in-store pickup, Kroger said Thursday. Customers can order online from a menu of more than 80 meals...

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RSK: Interesting concept but not really new here. Hy-Vee has been doing this for sometime. The advantage over a restaurant is the capacity factor of the large footprint of these grocery stores and the large parking lots.

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Japan`s Public toilets
Toilets are a symbol of Japan`s world-renowned hospitality culture. Public toilets will be redesigned in 17 locations throughout Shibuya with the help of 16 creators invited from around the world. We invite you to take a look at the uniqueness of each of these facilities.
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RSK: Far cry from the old gas station toilets in the US.

Ken Notes: Wow these are architecturally fantastic...

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E-commerce Fuels Industrial’s Unstoppable Engine

A surge in online shopping is bolstering the warehousing sector, making logistics assets unusually pandemic-resistant.

Logistics real estate continues to power through the downturn, buoyed by explosive growth in online retail. By some accounts, the forecast for industrial demand is better today than it was before the pandemic hit...

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RSK: Another reason that warehousing sector is growing...stockpiling for grocers for the second wave of the pandemic.

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The Brew Crossword: October 5, 2020
Across
1 Germany reunifier Helmut
5 *Part 1 of a trendy 2020
12 Local circulars are funded by them
15 Erode
16 Low-end purchase in 12-Across
17 *Part 2
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RSK: This week’s crossword based on last week’s news from the Morning Brew. If you would like to sign up for their daily news synopsis here is the link morningbrew.com/daily/r/?kid=5c066be5...

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The Brew Crossword: September 14, 2020

Thanks to Brew reader, Hunter Hudsmith, for creating and submitting this crossword.

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RSK: This week’s crossword based on last week’s news courtesy of the Morning Brew.

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FoodFight Restaurant Group - WELCOME

Our roster of restaurants reads like a who`s who of Madison`s favorite eateries: From Monty`s Blue Plate Diner, to The Avenue Bar, to Steenbock`s on Orchard, each is unique in its atmosphere and menu and each is the best at what it does!
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Support your local restaurants and order online today!

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The Brew Crossword: October 12, 2020
Across

1 ___ bing!
5 JFK successor
8 "Mamma Mia" subject
12 Reunion attendee
13 After beating you seven times, _____ you!
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RSK: This week`s crossword based on last week`s news from the Morning Brew.

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The Brew Crossword: October 19, 2020

Thanks to Brew reader Ashlee Vieregger for creating and submitting this crossword.

Across
1 Lightbulb moments?
5 "Don`t quit your ___!"
11 Viral nickname for a late Supreme Court justice (abbr.)
14 Bethlehem trio

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RSK: This week`s crossword based on last week`s news from the Morning Brew...

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Building For Lease: 2000 Atwood Ave Madsion WI

Large Corner retail/office space. Loads of glass. Eclectic space in an eclectic neighborhood. High traffic count. Mezzanine, plus finished lower level. 3,500 on main level extra 2,000 lower level. Tenant pays only for main level and pays 25% of cams water/sewer etc.

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building for Sale / lease 4245 W Beltline Hwy Madison, WI 53711
West Beltline Commercial property with large lot and plenty of parking. Basement. Many uses permitted. Former bicycle sales and repair. $800+/mo billboard income. Price based on $11/NNN at 7% Cap Rate.

Solid retail/office building on W. Beltline. Formerly bicycle shop. Basement space for storage included at no extra cost. Large parking lot. $11 NNN...
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Crown Commercial Real Estate/Development, LLC
Sponsor

Offering real estate services and design-build construction solutions for growth oriented clients...   ...more

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Building For Lease: 2017 Winnebago St Madison WI

Eclectic Schenks Corners. A bit of old and new mixed in the build out. Up to 2 bays remain 940 sf &1,680 sf. 1,680 sf is perfect for a coffee shop with old brick & beams exposed. Spaces can be combined. Tenant pays utilities. Exposed brick, heating, wood, skylights and more. 2 Units have basement for use.

Also:

Building For Lease: 2015 Winnebago St 101 Madison WI

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Building For Sale: 2958 E Washington Ave Madison WI 53704

Former KFC location. Property only. Vacant. Being sold in”As Is “ Condition. Corner of Oak and E. Wash.. Drive through window. Madison Metro stop at corner. On major E/W route to the Capital. 2nd Picture in Attachments is as it appears today. Co-listed with Ralph Kamps.

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Building For Lease: 1310 & 1320 Mendota St Madison WI

Just off E. Washington behind the new Hy-Vee. Many suite options ranging from 150 sf to 1,880 sf with rates from $10.00 to $14 gross, depending on size term and TI`s. Landlord pays all. On bus line. Great for non profits, small office/service reps. Interstate and airport a minute away. Agent interest. Controlled storage also available for pharmaceutical reps, suppliers etc...

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The WRA wants to help.
Beginning Thursday, April 16, the WRA will launch a new "Legal Update Live" series of online, open and interactive meetings that cut through the noise and distill key business and practice-related information that you need to know during this coronavirus pandemic. This series will feature the WRA legal team addressing the latest business issues, procedures and programs you need to know. Subject matter experts from Wisconsin law firms, government agencies and the National Association of REALTORS® also will be featured to provide updates and answer your questions.

Let the WRA help you navigate the novel business challenges you face during these difficult times. We hope you`ll join us for our first Legal Update Live at 2:00-2:30 p.m. on Thursday, April 16. The WRA will provide more details -- including the video link to access Legal Update Live -- next week in WRA emails and on the WRA`s social networks.
In the meantime, the WRA has a wealth of resources, including information on SBA programs and programs you may qualify for, such as PPP, PUA and EIDL; coronavirus real estate forms; Q&As and more. Find these on our resource webpage at www.wra.org/coronavirus.

Stay safe, stay healthy and stay informed!
Mike Theo
WRA President & CEO

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Recent sponsors below...
Thanks you for sponsoring CIREX and Cirexnews.com
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Flad Development & Investment Corp.

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Since 1975, Flad Development & Investment Corp. has emerged as a leader in the development of quality commercial real estate projects in Madison and Milwaukee.

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Ruedebusch Development & Construction

Ruedebusch Development & Construction, Inc. is a highly qualified, vertically integrated full service commercial construction, and real estate development company located in Madison, Wisconsin which offers:

  • Commercial Real Estate Development
  • Design Build Construction
  • Commercial Real Estate Brokerage
  • Economic Development, Commercial Real Estate, and Facility Consulting
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MIG Commercial Real Estate

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"The attention to detail, preventative maintenance, and proactive communication exhibited by MIG makes them a true business partner."

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Evans Properties, LLC.

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Professional Real Estate Management and Sales

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High Point Office Park

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High Point Office Park is an 11-building, 217,418 square foot office park located in one of Madison, Wisconsin’s finest western locations.

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T. Wall Enterprises





Expect Professional Management with a Personal Touch
with every T. Wall Urban Village.

(608) 575-1018 or Contact@TWallEnterprises.com

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IA Management

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IA Management is a full service property management company located in Madison, Wisconsin. Our objective is to be a profitable leader in both commercial and residential real estate.

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Madison Commercial


For lease on Medical Circle - Up to 4,902 SF Available
  •     Currently being remodeled with new elevator
  •     Open floor plans
  •     Under new ownership
  •     Beltline visibility & monument signage
  •     Plenty of parking

call Mike Herl

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NAI Madison

NAI Global is a leading global commercial real estate brokerage firm with over 400 offices worldwide and annually completes more than $20 billion in property-related transactions...

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Masters-hall Appraisal

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ST. Johns Properties
St. Johns
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Five flex/R&D buildings - 138,000+ sq. ft. - Hwy 51 and Hoepker Road - High End Image - Affordable and Flexible Floor Plans - Warehouse - R&D, Light Manufacturing - Showroom

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Compass Properties

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Fiore Companies, Inc.






608-255-5060 or 608-255-8780  info@fiorecompanies.com
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Keller Real Estate Group

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Keller Real Estate Group Understands Local Business Real Estate Needs

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Eldorado Grill

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744 Williamson St.Madison, WI53704 608.280.9378 Hours Sunday - Thursday 4PM - 9PM Friday - Saturday 4PM - 10PM

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