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WeWork Nabs 96K SF in Three Manhattan Buildings for HQ by WeWork

Coworking giant WeWork grabbed nearly 96,000 square feet in three Manhattan buildings for its recently launched HQ by WeWork offering for midsize tenants, the company announced Tuesday.

In the biggest deal, WeWork took 51,050 square feet on 11 floors of CIM Group’s 67 Irving Place between East 18th and East 19th Streets, a spokesman for WeWork said. The company plans to move an HQ member in the building in February...


RSK: Why do I get this feeling WeWork will be another Enron? Hope not.

Ken notes: As long as WeWork continues to serve major companies they will be ok, we may have to rethink our offerings and space though. It is all about the experience. Think coffee shops, restaurants, game rooms, cool conference spaces with media, spas, day care, pet day care, Grandma cay care... And for 60 bucks a foot it may be worth it!

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The Top 20 U.S. States People Are Moving To
Which states are seeing the most inbound population movement? A report put together by long-distance moving service provider Stevens Worldwide looks at the data...


RSK: Well, Wisconsin didn`t make the list but...wait for it...Illinois did? What the....!

Ken notes: We should be on this list, but we need an economic development policy that is fair and available to all companies. Now business, and developers look at Wisconsin, see Foxconn, and say well I can`t really compete with that.

As developers we should seek a seat at the table in the new administration and ask for an economic policy that we can offer to our potential clients. We do not have much time...

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Chinese Dumped $1 Billion of U.S. Real Estate in Third Quarter, Extending Recent Retreat

Chinese investors offloaded more than $1 billion in U.S. real estate in the third quarter, extending their recent retreat from hotels, office buildings and other foreign property under pressure from Beijing to reduce debt and curb money sent abroad.

Insurers, conglomerates and other big investors from China sold $1.05 billion worth of U.S. real estate in the third quarter, while purchasing $231 million of property, according to data firm Real Capital Analytics.

That was the second straight quarter in which Chinese were net sellers of U.S. commercial real estate. The second quarter marked the first time these investors sold more U.S. property than they bought during a quarter since 2008...


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See the transformed Grand Avenue; food hall tenants named

The long-planned transformation of the Shops of Grand Avenue is moving forward as the owners create a food hall in its first floor, upper-floor office space and prepare to open new apartments.

Criticized for more than 10 years as a failing mall and a void west of the river in downtown Milwaukee, the Grand Avenue by early 2020 will likely be buzzing with new people. Renamed “The Avenue,” it could become another major draw for West Wisconsin Avenue...   ...more

RSK: I have always been a fan of Grand Avenue Mall now called The Avenue. Can`t wait to visit it again.

Ken Notes: Once the build out is done we should take a tour...

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Tonight Tonight Annual Holiday Party
CBG Annual Holiday Party & Meeting
Date: Tuesday, Dec 11th from 4-7
Location: Lucille, at 101 King Street
Time: 04:00 PM

Event Details:
Save the date for our annual Holiday Cocktail Party & meeting with hors d`oeuvres and alcoholic refreshments. More details to follow. We hope you can join us from 4 p.m. to 7:00 p.m. on Tuesday, December 11. This is one of the most well attended events of the year for CBG members, affiliates, and their guests. We`ll have a short meeting and then it will be time to celebrate with your friends and colleagues. Contact Wendy with any questions at 772-0060. ...


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In-Building Wireless and Emerging 5G and CBRS Technology – The Potential Impact on Commercial Real Estate

There are nearly 5B mobile phone users in the world today. We’ve recently surpassed the 50% mark and now over half are smartphone users who are gobbling up bandwidth with live media and immersive content faster than the carriers can supply it. And with so many IoT devices coming online, from video security to automobiles, the demand is increasing exponentially. Although still a couple of years away, 5G and CBRS have not only become hot topics for carriers, telecom equipment manufacturers and end-users, but also building owners and tenants. Despite the high level of interest, there are still numerous questions on how building owners will actually connect with these technologies, and how they’ll impact tenants and visitor’s consumption of data. In this webinar we’ll explore how CRE stakeholders can best prepare to take advantage of these groundbreaking new technologies...


RSK: Might be worth the time. 5G is coming soon!

Ken Notes: I have been following 5G for several years, it will have a huge impact on business because it actually offers and alternative to our current internet options. Taller buildings may be able to "trade" tower locations for amazing access in the building. 5G will eventually compete with WIFI for all our device access. It will also change the way we think about communication as all our devices become linked. Watch the investment curve here it will start out very expensive and move down fast...

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JLL Launches Last-Mile Consultancy Business in US

In a retail climate where online shoppers expect to receive their purchases the same day they made them, JLL decided to create a consultancy group to help urban retailers achieve just that, Commercial Observer has learned.

While at the annual three-day MAPIC international retail real estate conference in Cannes, France, Naveen Jaggi, the president of retail advisory and capital markets at JLL, told CO that JLL now has an urban last-mile business in the U.S...


RSK: Good get the last mile to be a return center and you have it made.

Ken Notes: Sears perfected this in the 60`s, every town had a sears catalogue store you picked up or returned your order there. You could buy anything from a dress to a refrigerator they also had guys to fix stuff, do home repair or installs, and deliver ANYTHING for a fee...

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Fed`s Williams expects further U.S. rate increases into next year

NEW YORK (Reuters) - One of the most influential Federal Reserve policymakers said on Tuesday he expects further interest-rate hikes continuing next year since the U.S. economy is “in really good shape,” reinforcing the Fed’s upbeat tone in the face of growing doubts in financial markets.

Even as New York Fed President John Williams told reporters he expects the U.S. expansion to carry on and surpass its previous record around mid-2019, stock markets headed lower Tuesday morning while a potentially worrying trend of “inversion” continued to grip Treasury markets...


RSK: As interest rates rise, investment returns will fall along with prices.

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Wisconsin Commercial Real Estate

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

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Everyone’s Talking About Omnichannel, but Who’s Doing It Right?

A couple of weeks ago, Crown Retail Services‘ Stephen Stephanou told the Real Estate Board of New York commercial brokerage retail committee that he is helping Nordstrom find a few retail spaces in New York City—on a short-term basis—for its inventory-less service concept, Nordstrom Local.

The Seattle-based company’s Nordstrom Local locations—there are three in Los Angeles and they occupy up to a few thousand square feet, a fraction of the average 140,000-square-foot Nordstrom store—are just part of the fashion retailer’s omnichannel approach...


RSK: The worst process for me is returning something I bought online that does not have a brick n mortar location near me. I think someone could start up a return center and charge a fee to help customers return items. Just saying...tis the season.

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A Curated Collection Of Interesting Reactions To Amazon`s HQ2 Announcement

Amazon announced Long Island City in Queens, New York, and Crystal City in Arlington, Virginia, as the new sites for its second headquarters, a project it dubbed HQ2 when it announced a site search in September 2017.

Amazon says it will now invest a combined $5B into these markets and expects to create at least 50,000 jobs across the two new locations...


RSK: This is very very interesting. Some consider themselves lucky they didn`t get the bid and can save all those tax incentives. Others, such as Toronto are looking on the bright side and have noticed an uptick in information requests for relocating to that city. What are your thoughts on this?

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Opportunity Zones, Marijuana-Related Properties and Retail Assets Among Best CRE Bets for HNW Investors in 2019

As high-net-worth (HNW) investors zone in on commercial real estate opportunities for 2019, Opportunity Zones, multifamily, marijuana, retail and industrial are emerging as some of the key areas to watch.

Real estate investments made next year by HNW investors should be weighed against rising interest rates and the prolonged economic expansion, according to Doug Brien, co-founder and CEO of Oakland, Calif.-based Mynd Property Management, which specializes in multifamily assets.

“For deals to make sense, investors will need to make sure cap rates remain high enough to balance out rising interest rates,” Brien says. “In my opinion, a long-time horizon should be incorporated into any investor’s strategy if they’re acquiring properties at such a late stage in this rising interest rate environment.”...


RSK: I guess opening a retail weed shop in an opportunity zone is a can`t miss eh?

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Mid-America Real Estate Group
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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Ambitious thinking: Smart cities
Job growth is happening in both the CBDs and the suburbs. But educated adults are increasingly city dwellers, seeking walkability, authenticity, and collaboration. As economic recovery and expansion continue across most sectors and regions, competition for talent is intensifying, increasing pressure on employers to differentiate based on location, amenities, and environment. Now more than ever, it`s critical that real estate investors, developers, and decision-makers understand which cities and suburbs are experiencing job growth and attracting highly-educated talent.


RSK: Midwest seems to have the least educated professionals. But is the cause because of agriculture and industry? How about skilled labor as well? Maybe Madison is an anomaly but I can think of other cities where they have major Universities in the Midwest. Hmmm. Are we educating and then exporting? Always seems to be a problem.

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Komatsu Mining would pay $1.9 million to buy Port of Milwaukee land for HQ

Port of Milwaukee officials on Friday endorsed an about $1.9 million sale of more than 12 acres along the inner harbor to Komatsu Mining Corp. for its planned headquarters.

That land on the south side of East Greenfield Avenue for many years was where a large pile of coal was stocked for We Energies’ Menomonee Valley power plant, which is now powered by natural gas. It is vacant now and, pending approval from the sale by Milwaukee elected officials, is the place Komatsu Mining would build an office and company museum as part of its planned $285 million new headquarters...


RSK: SE Wis is booming.

Ken Notes: this is sooo much better than an actual mine!

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Rooftop domes headed to Café Benelux for new dining experience

Café Benelux in Milwaukee’s 3rd Ward plans to offer a new way for customers to dine outdoors. 

Lowlands Group, which owns the café, said in a Thursday news release that it would install six private, heated domes on the restaurant’s rooftop late this month. Guests can book a dome for up to eight people for a 90-minute time slot on Friday, Saturday and Sunday evenings....


RSK: We need a few of these in Madison for our long about Fresco, Craftsmen Table & Tap?...

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Revisiting 2018`s Biggest CRE Predictions: The Good, The Bad And What We Got Wrong
As we look toward the new year and consider the new challenges and possibilities 2019 will bring for the industry, Bisnow revisited its commercial real estate predictions for 2018 to determine just how far off we were. From the continued expansion of the economy to the booming industrial market, turns out we were pretty spot on. We analyzed the 22 predictions below and how those trends all played out (or didn`t)....

1. The Economy Will Continue To Expand...

2. Age Of The Cycle To Wear On Sector Fundamentals...

3. Retail Bankruptcies To Slow...

4. Multifamily Construction To Remain Near Cyclical Peak...

5. Deal Volume To Pick Up, Slowly...

6. Office Market To Remain Flat...

7. Industrial To Excel All The More...

8. Leisure Travel To Become Increasingly Important in The Hotel Sector...

9. Undervalued REITs To Bounce Back...

10. Caution Of Overvalued Stock Market...

11. CMBS Maturation To Slow...

12. Data Center Demand Will Not Taper Off...

13. Infrastructure Investment To Be A Priority For The Administration...

14. Investor Interest In Senior Housing To Soar...

15. Enrollment Headwinds To Put Pressure On Universities...

16. Compressed Cap Rates Could Improve In 2018...

17. Retail Bifurcation, M&A Activity To Persist...

18. Office Footprint To Continue To Shrink...

19. Strong Connectivity To Remain A Priority For Companies...

20. Tech Solutions Continue To Address Challenges In Construction...

21. Co-Living, Short-Term Rentals Take Hold...

22. Tiny Apartments, Micro-Units Boom...


RSK: Good synopsis. I feel the market wised up to overpriced property and prices have leveled off......and are starting to decline where they start to make some economic sense.

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Building For Sale: 2301 Columbus Ln Madison WI

60 Unit (5 building) apartment community on 7.33 acre wooded lot located close to East Towne Mall. Currently 100% occupied. Property also features 5 detached garages with a total of 47 stalls as well as a small playground set. Buildings have 1 Bedroom/1 Bath units and 2 Bedroom/2 Bath units (2 Bedroom units have private balconies). All units feature dishwasher and garbage disposal...


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DECEMBER 2018 - 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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Year-end tax and accounting update for the real estate industry


Join leaders from RSM’s national real estate practice on Tuesday, Dec. 11, 2018, at 1 p.m. EST (Noon CST), for an update on the tax and accounting developments, trends and policies affecting the real estate industry....

Who should attend
CEOs, chief financial officers, controllers, chief accounting officers, tax directors, financial professionals and other finance department members in the real estate industry

Date and time
Tuesday, Dec. 11, 2018
1 p.m. EST | Noon CST
60 minutes

CPE credit
One CPE credit will be issued to eligible participants


More information
Email us or call + 1 800 274 3978


RSK:Chance to do some last minute year end tax planning for real estate.

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Can average investors take advantage of a new real estate development tax break?

There`s a lot of talk about Opportunity Zones. Can anyone invest in them?

Investing in an opportunity zone is not for everyone, but for the right investor, it could be a once-in-a-lifetime tax break.
Opportunity zones are designated as economically distressed areas by each state and certified by the US Department of the Treasury.

As a result of recent tax reform, opportunity zones have emerged as a way for distressed neighborhoods to attract needed real estate development and for investors in these projects to receive favorable tax treatment. Such investments could allow you to defer capital gains taxes until 2026, reduce the amount of taxes you owe by up to 15% and pay no taxes on the fund`s gains if you hold it for ten years....

RSK: Heed the line that says "Just because you could get a significant tax break from an opportunity zone fund does not mean that it is a good investment."

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ARTIS REIT / Madison Lifestyle Office Portfolio

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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My NYC Real Estate Tech Week 2018 Summary. The Bright Lights. The Big City. And…

Well, well, well, and if you could hear my voice saying that it would sound like a gravely blues singer. Why, because it’s been a long week, to say the least, and screaming over music and noise just to talk will make your voice wear down and lower a few octaves no matter what.

So let’s get this started with the same thing I always say. This is MY experience and these are my observations about NYC Real Estate Tech Week 2018. MINE, not YOURS. You would think at this point it would be mute but in the world we live in today…not so much.

Kicking off the week was Technology and Collaboration in the Built Environment Presented by Propmodo hosted by Convene right in the middle of Times Square....


RSK: The Dukester`s take and rewind of CRE Tech Week NY, NY.

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White House Climate Change Report Highlights Major Implications For Commercial Real Estate
Several federal agencies, including the U.S. Global Change Research Program, delivered a quadrennial report on the potential effects of climate change and the country`s ability to address them over Thanksgiving Day weekend. The report`s findings were sobering, but did little to sway President Donald Trump, who publicly denounced the study upon its release....

Topics covered...

Actions And Attitudes For Change


RSK: I think #4 is of most concern and will affect all of us in one way or another.

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Who said stores are dead? These 5 retailers are investing billions of dollars in bricks and mortar

Though shoppers are increasingly spending more time and money online, that doesn`t mean retailers should ignore their stores. In fact, some of the biggest players in the industry are spending billions of dollars to remodel their existing shops, hoping to lure customers inside with more modern fixtures, easier checkout options and online order pickup kiosks. That`s as Amazon — many retailers` biggest threat today — is investing more in its own real estate and opening stores ranging from its cashier-less "Go" convenience shops, novelty "4 Star" locations and bookstores. It`s also shaking up the grocery industry with its acquisition of Whole Foods, pushing companies like Kroger to think outside the box, or partner with other retailers, as they try to grow. And it was also reported earlier this week that Amazon could test its cashier-less technology for bigger stores, something that could further challenge traditional retailers.

"Brick-and-mortar retailers need to give consumers a reason to visit stores instead of making online purchases, and, to that end, an increasing number of companies have started investing in stores," Hong Kong-based Coresight Research analyst Albert Chan said in a research note. "We expect an increase in retailers` capital expenditures to remodel stores as the competition to attract store traffic intensifies against the backdrop of increasing penetration of e-commerce."


RSK: As the larger retailers expand brick n mortar, smaller shops are expanding their online is all morphing.

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Oak Creek approves $200M Amazon distribution center that will create up to 1,500 jobs Inc. and a Texas developer will pledge to create 1,500 jobs and spend $200 million building an ecommerce distribution center in Oak Creek under an agreement the city approved Tuesday.

That agreement also pledges $16.9 million in city financing to support the planned 2.6-million-square-foot building near Ryan Road and Interstate 94. It is planned to open in the first quarter of 2020 and have 1,500 workers by the end of 2021...


RSK: Another "Boom" for SE Wis.

Ken Notes: This is like computers first there was the Mainframe (big distribution center) then they found you could use many smaller PCs (small distribution outlets) in something called distributive processing to do even more. Trust me Amazon will figure this out soon...

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Building For Lease: - Granite Ridge 3308 Packers Ave Madison WI

Exciting opportunity to lease brand new 1st floor office or retail space in the Granite Ridge Apartment building. The complex houses 61 residential units above and 72 more in adjacent buildings providing opportunity for customer convenience. Located near Madison College, Truax Airport, and the busy Packers/Northport Ave make this location highly desirable.


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Building For Lease: Retail/Office for lease 1026 W Main St 1028 W. Main St Sun Prairie WI

2,400 Sq. Ft. Retail/Office space located in the busy Main Shopping Center. This end cap has great visibility, parking and located on newly expanded West Main St in fast growing Sun Prairie.


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The Gialamas Company, Inc.


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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The Missing Ingredient Of Building Valuations. Guest Post Lauren Long

One of the largest meetups of commercial real estate professionals concluded last week in New York City. Propmodo kicked it off with “Technology and Collaboration in the Built Environment” at the beautiful 4 Times Square building followed by a packed CRE-focused agenda hosted by MIPIM PropTech and MetaPropNYC.

With over 2,000 attendees from around the world, the conversations held on stage and amidst cocktail tables did not disappoint. However, the discussions were almost without an important perspective – those who know buildings best...


RSK: Very nicely penned!

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Survey: CRE Brokers High On Cannabis Real Estate Deals

On the heels of voters approving the legalization of marijuana in three more states, a survey of brokers by commercial real estate software company Apto found that 85% would do another cannabis real estate transaction, despite the difficulty of negotiating deals.

Voters in Michigan legalized marijuana for recreational use, and voters in Missouri and Utah legalized the use of medical marijuana. Now, 33 states and the District of Columbia have some form of legal marijuana sales.

Brokers rated the difficulty of a cannabis deal compared with a conventional deal at 8 on a scale of 1 to 10, with 1 being less difficult and 10 being more difficult...


RSK: Lots of transactions happening especially in retail. I still have my doubts that Wisconsin will legalize cannabis but you never know.

Ken Notes: Imagine a bad news day for The Donald, so to change the press flow he picks up the phone and directs the feds to invade every establishment selling cannibals in every state.

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Why do all new apartment buildings look the same?

A wave of sameness has washed over new residential architecture. U.S. cities are filled with apartment buildings sporting boxy designs and somewhat bland facades, often made with colored panels and flat windows.

Due to an Amazon-fueled apartment construction boom over the last decade, Seattle has been an epicenter of this new school of structural simulacra. But Seattle is not alone. Nearly every city, from Charlotte to Minneapolis, has seen a proliferation of homogenous apartments as construction has increased again in the wake of the financial recession...


RSK: True here in our market as well....but it does boil down to code, cost & craft.

Ken Notes: I hope to see some smaller units with shared amenities in the Madison footprint. I have to believe that 200 sq ft solo is as good as 900 - 1200 sq ft with 8 students but I may be wrong...

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Building For Lease: Orchard Pointe II - 6317 McKee Rd WI

Orchard Pointe II is minutes to the Beltline, adjacent to Hwy 18. It is shadow anchored by Super Target (one of only two in Wisconsin) and Hy-Vee. The center features excellent visibility and frontage. There is an end-cap for lease with ample signage opportunities. Co-tenants include Elements Massage, The Flying Hound, The Joint Chiropractic, and Mendota Springs Dentistry.


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How the Stock Market’s Wild Ride Could Affect CRE Investment
Stock market volatility may spur investors to allocate more funds to direct ownership of real estate.

The stock market’s recent rollercoaster, with October’s sharp correction followed by a post-midterm election surge, can put the investment community on edge, including commercial real estate investors.

“People who invest in real estate don’t invest in a vacuum,” says Mark Dotzour, a real estate economist who spent 18 years as chief economist of the Real Estate Center at Texas A&M University before opening a private consultancy three years ago...


RSK: I have to agree with this. CRE prices have risen at an astronomical rate and the yields for the purchaser have plummeted.

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How Technology Can Enhance A Day In The Life Of A #CRE Broker.

The commercial real estate brokerage industry is a challenging but lucrative profession. There are ups and downs but those who are passionate about the job with the strength to face the inevitable tough times will succeed in the long term.

There isn’t a typical workday for a commercial real estate broker and each day will vary depending on the firm, client requirements, level of expertise and the particular sector a broker will focus on. The one thing that is true for all CRE brokerage professionals, no matter the specialization or role is that brokers spend a good portion of the day tracking progress and making sure all components of a transaction are moving along as efficiently as possible..


RSK: It is more than just driving people around until they find something they want to purchase or lease...just ask Chase`s daughter!

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Building For Sale: New Glarus Hotel Restaurant - 100 Sixth Ave New Glarus W

A Historic Hotel Restaurant known for its fine Swiss cuisine. 250 seat capacity that includes a full commercial kitchen, lounge w/unique sunken bar, upper level dining rm w/fireplace & service bar, a main dining rm w/dance floor & stage, a banquet rm & balcony dining area, totaling 11, 560 sf. The Ticino Pizzeria (1,456 sf) and a cheese shop & 4 hotel rooms, (upstairs) provides add`l revenue...


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High Point Office Park

Affordable. Versatile. Excellent visibility. A unique gem tucked alongside Madison’s West Beltline Highway 12/14...

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Coworking On Track For Even More Growth Because Companies Like Its Flexibility

Coworking is moving from the likes of WeWork into the mainstream of global corporate culture, according to a new report by Knight Frank.

The company queried 120 global companies, finding that space-as-a-service is rapidly becoming a new normal, as exemplified by the growth of coworking space.

Recent estimates suggest that there are now almost 18,000 co-working spaces around the world, Knight Frank reports, accommodating almost 1.7 million workers. These totals represent staggering growth of 3,500% and 8,000%, respectively, since the early 2010s...


RSK: Co-Working is a growing Phenom….. but for me, I still need a bit of privacy to get my work done!

Ken Notes: Remember your office space is about your work style. Do not build based on what works for others build based on what works for you and your team. One caveat, nicer office space with amenities and social space does increase productivity...

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Middle-Class Misery: Housing Crisis Hitting Cities, Working Americans Harder Than Ever Before

Ten years after the Great Recession roiled the global financial system and sent the American economy into a tailspin, the U.S. has roared back to boast an unemployment rate below 4% — a figure not seen since the 1960s.

Yet, despite the influx of jobs, wage growth has remained stagnant, leaving millions of middle-class Americans without savings, living paycheck to paycheck as they continue to fight for what generations before have taken for granted: decent, affordable housing...


RSK: This is a real problem, my friends.

Ken Notes: This is a real problem and because the margins are not there in small housing even companies like Veridian start in the mid 200K range. The 150K starter home we need is not there. Some of the Madison apartments will convert to condo to allow some to establish equity and rural developments will grow some starter homes. But this is a problem in need of a real solution...

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Five Takeaways from Marcus & Millichap’s 2019 Office and Industrial Forecast
The outlook for office and industrial sector remains mostly positive.

Real estate services firm Marcus & Millichap presented its 2019 office and industrial forecast during a webinar on Tuesday, signaling mostly positive outlooks for both sectors as the industry nears the end of this economic cycle. Here are some key points from the presentation.

  1. All suburban office properties are not the same.
  2. Single-asset suburban office sales were at record levels in the third quarter.
  3. This economic cycle has been one of the longest in the U.S., but one metric that could signal restrained growth is labor force shortages
  4. Two big inflationary metrics to watch:
  5. Industrial construction is slowing, but vacancies remain steady.

RSK: This pretty much says the state of CRE to date for Office/Industrial. Good take away.

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FAO Schwarz to open toy store in Midway as part of airport’s retail makeover
The city is planning to phase out the existing shops at Midway and replace them with 70 new retail brands by 2020

Renowned New York toy store FAO Schwarz will join a revamp of the Midway Airport shopping concourse that’s on track to bring 70 new retail brands to the airport by 2020.

FAO Schwarz applied for a permit to add a store sign in the airport, according to city buildings department records. A city spokesperson confirmed the lease Monday but did not say how much space the store would take inside the city’s junior airport....


RSK: You now know where to find me if I am ever traveling through Midway Airport!!

Ken Notes: I`ll bet the airlines just love this, "I just bought this stuffed elephant, what do you mean I can`t carry it on???"

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2018 Event Calendar

TODAY: 2018 Market Update – Presented by MB Financial Bank

December 11 @ 3:00 pm - 7:00 pm

CARW & NAIOP-WI bring you the 2018 Market Update presented by MB Financial Bank

This event is an annual check-in that provides a current and comprehensive look at the state of the industrial, investment, office and retail segments of the commercial real estate markets in Southeastern Wisconsin...


RSK: A list of CARW Events and CE.

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Without Toys R Us, one iconic, international toy chain could soon make its mark in the US
Key Points
  • Without Toys R Us, an $11 billion toy industry has been left with no clear market leader.
  • British toy retailer Hamleys is close to finalizing a deal where it would secure roughly 30,000 square feet at 2 Herald Square, near Macy’s and Victoria’s Secret, a person familiar with those negotiations tells CNBC.
  • The company is looking to grow in the U.S., as retailers like Walmart and Target are trying to sell more toys.

    Without Toys R Us, an $11 billion toy industry has been left with no clear market leader.

    Companies like Target, Walmart, Amazon and Kohl’s are trying this holiday season to sell more toys to kids and their parents, but the verdict is still out on which company will best fill the void that Toys R Us left behind. Seeing a huge opportunity, one iconic, international toy retailer could soon make its first move into the U.S. with a flagship location in New York, and plans for a wider rollout of stores to follow.


RSK: Someone has to pick up the slack. I like Kohls model myself but you cannot survive on a few Holidays per year in the toy market...

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Reinhart Boerner Van Deuren s.c.


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

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As Demand for Office Space Moderates, Some CBD Markets May Experience Outsized Loan Losses

A new report from Moody’s warns that about 23 percent of CBD office collateral included in CMBS loans is in weaker CBD markets.

Office assets in central business districts (CBDs) have enjoyed an impressive, eight-year run of robust demand and growth in both rents and valuations and are considered a low-risk bet for capital investment.

CBD office markets have benefited from the expansion of the co-working sector and a desire by millennials to live near where their work, as well as from empty nesters relocating to the cities from the suburbs, notes Stephen Shapiro, senior managing director of the New York capital markets and investment services group with Colliers International...


RSK: I just don`t see this happening here in our small market. Downtown is too entrenched and too much happening. The only thing that might change this is that bad transportation infrastructure we have and mass transit. Beltline is a mess at rush hour as well.

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RASCW Events and updates

2019 RASCW Commercial Real Estate Forecast

Wednesday, January 23, 2019

Registration 1:00 pm • Program 1:30 pm – 4:00 pm
Corporate Conference Center • TDS Building
525 Junction Road, Madison


Commercial Real Estate: What is Next?

Mark J. Eppli, Director of the James A. Graaskamp Center for Real Estate

Tax Cuts & Jobs Act of 2017: What Does it Mean in 2019?

Jeff D. Olson, CPA, MBA - Berndt CPA

Madison Development

Matt Wachter, Manager of Real Estate Services and
Dan Kennelly, Manager of Office of Business Resources,
Economic Development Division, City of Madison

Social Networking 4:00 pm – 5:30 pm
Eno Vino Wine Bar & Bistro

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Apartments are getting smaller – but renters are paying more
  • The average size of newly built apartments in 2018 is 941 square feet, which is 5 percent smaller than it was a decade ago. For studio apartments, the change is more pronounced — they`re 10 percent smaller.

  • Overall, including old and new apartments, the Southeast has the largest units in the nation, while California has the smallest.

  • Micro-units are becoming more popular, following on the tiny-house trend, as millennials tend to be more environmentally conscious than previous generations.

Apartments are getting smaller in much of the U.S., even as rents are rising.

The average size of newly built apartments in 2018 is 941 square feet, which is 5 percent smaller than it was a decade ago. For studio apartments, the change is more pronounced — they`re 10 percent smaller. Rents, on the other hand, have jumped 28 percent during the same time period, according to RENTCafe, a nationwide apartment search website.


RSK: This can be a bit misleading. If just using sq. ft. and not volume or cubic sq. ft. the story may differ. Higher ceilings and fewer walls can make a smaller apartment feel much larger than it is. Same with larger windows.

Ken Notes: We are missing the boat in Wisconsin by not creating more opportunities for stick built Micro Housing think: vacation properties, retirement, student housing, homeless and low income, equity building starter properties. The apartment boom is because we are not building low cost starter homes with nice amenities in walkable neighborhoods...

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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

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Competitive Ax-Throwing Facilities Spreading Rapidly In U.S. Cities

In an age where the young and sociable set’s desire for new experiences is only rivaled by the retail market’s desire to create them, the sport of ax throwing has gained a serious foothold in a short time.

People have been throwing axes for sport for thousands of years, but the modern concept of a venue specifically dedicated to regulated ax throwing started in 2010, when Matt Wilson founded Backyard Axe Throwing League in Toronto after years of organizing it in his backyard. BATL had grown a following when Matt and Krista Paton visited in 2015, fell in love and co-founded Urban Axes in Philadelphia with partners Stu Jones and Shaun Hurley the following year....


RSK: This is nothing new here in Northern Wisconsin...check out the second picture fella`s. Make sure you are on good terms with your Lady!

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Former WeWork Exec Joins CBRE’s New Coworking Arm As COO

CBRE has brought on a former WeWork executive to work at its new coworking offering.

Robert Cartwright joined the new company, called Hana, in September as chief operating officer, The Real Deal reports. He was previously WeWork’s senior vice president of global operations, a position he left in August, according to his LinkedIn profile. He was also an executive at Starwood Hotels and co-founded a hotel development company.

CBRE launched Hana late last month. The new business will not lease space directly, but will work with landlords to create and run flexible office space on the landlords` behalf. Its business model will be to generate money through revenue and profit-sharing agreements with those landlords...


RSK: Very interesting...everyone is taking a shot at WeWork. But when you have a successful model, well why not copy and make a few twists to it. I like this idea.

Ken Notes: CBRE sees the challenge and is in the game.

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Starwood CEO Barry Sternlicht: `The Endgame For Amazon Is To Wipe Out Main Streets Of America`
Starwood Capital Group CEO Barry Sternlicht was not happy about Amazon`s HQ2 decision and is sharply critical of the way fellow billionaire Jeff Bezos runs his company. The real estate executive also believes President Donald Trump`s immigration policies are hurting the U.S. economy, and he predicts a recession will come in 2020.

Sternlicht shared his strong opinions on these and other topics in a phone interview with Bisnow Thursday afternoon. The CEO will speak on Nov. 28 at Bisnow`s Multifamily Annual Conference East in Tysons, Virginia, alongside Greystar CEO Bob Faith, with whom he co-founded Starwood in 1991. Sternlicht has since grown Starwood to a global giant with over $50B in assets under management, including major holdings in multifamily, hospitality and other sectors. This interview has been edited and condensed for clarity...


RSK: I hate to tell you this Barry, but Main Street was wiped out of retail a long time ago. Now it is Boutique shopping and restaurants. People enjoy the camaraderie and the experience...what Malls are trying to do and Amazon may never do...unless they go to Brick n Mortar.

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Is this what the office of 2025 will look like?

In the past decade, offices have already begun to evolve from the dreary cubicles of workplaces past. But it’s only just begun, and the next ten years will see even more dramatic changes, says David Thame

The last thing the office of the future will look like is an office. A hotel, maybe. Perhaps an art gallery or a nice restaurant with gardens. But not like an office. Definitely not.

This is the conclusion some readers have drawn from the blue-sky thinking by MoreySmith, one of Europe’s leading design and architectural firms. The consultancy has unveiled a Workplace Futures Report(1) in partnership with The Future Laboratory, revealing what offices could look like by 2025....


RSK: Very well written....who knows what the future office will look like.... it`s all just a snapshot in time as it keeps evolving and morphing.

Ken Notes: Why do we think there will be "The Office". The Office should and will be about corporate culture and workflow. Companies should know their employees and how they work most efficiently and then design spaces for this. Some will be open with ping pong tables others will be 8x8 sound proof cubes and mine will be a home on the Sugar River with a big deck...

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Building For Sale: 4633 Hwy 138 Oregon WI
Unique mixed-use space for lease or sale, located directly along Hwy 138 in Oregon, WI. The 3.2 acre parcel offers abundant outside storage, ample parking, and an opportunity for a building expansion or redevelopment. Ideal for commercial, retail, agriculture, and/or industrial tenants.

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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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Landlords Look To Curate Tenant Mix So Companies Can Financially Benefit One Another

Office landlords need to provide more than just a roof over workers` heads. They now also need to use their real estate to impact their tenants` bottom lines.

During Bisnow`s Atlanta State of the Market event Thursday, Transwestern Senior Managing Director Clark Dean said office landlords need to start viewing their buildings as “business ecosystems that are carefully curated to create specific value” for tenants.

“Now [landlords] can start thinking about what businesses want to be part of that business ecosystem to drive value for them to where the value and business starts to transcend the rent,” Dean said...


RSK: It would be nice to have the right tenants lined up at the door to create such an eclectic cohesive mix...but knowing Landlords... space cannot stay vacant for too long. A bird in the hand...

Ken Notes: I just said this...

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Neighborhood Goods: The department store of the future

Neighborhood Goods is a startup that rethinks the traditional department store experience. Co-founder and CEO Matt Alexander calls it “a department store with a story.” Instead of a fixed landscape of racks and products from a finite number of brands, Neighborhood Goods aims for a retail experience filled with everything from unheard-of independent brands to huge international brands hosting pop-ups within the store.

Alexander sat down with the Retail Gets Real team prior to the store’s grand opening on November 17, 2018, to share how he created the department store concept of the future and what he envisions it to be...


RSK: I like this concept for neighborhoods and small towns. Much better than a strip center.

Ken Notes: Destination Experience, Destination Experience, Destination Experience...

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More trouble for malls: A new wave of closures from Gap, Victoria`s Secret and others
  • Malls and shopping centers across the U.S. are preparing to be hit by more store closures.
  • A slew of specialty retailers like Gap and L Brands are getting serious about downsizing, which will leave more vacant storefronts within malls until landlords are able to replace tenants.
  • Meanwhile, a number of e-commerce brands are looking to open stores, as malls add co-working spaces and apartment complexes to the mix.

Mall and shopping center owners across the U.S. are preparing to be hit by more store closures, following a brutal year that included department store chains like Bon-Ton and Sears going bankrupt, Toys R Us liquidating and even Walmart shutting dozens of its club stores....


RSK: Online shopping has put the sting in Mall owners high retail lease rates. They will need to negotiate and give a few more concessions to keep tenants.

Ken Notes: Malls will need to become destinations with things to do as well as things to buy...

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Seven Takeaways from the ICSC New York Deal Making Conference 2018
Attendees at ICSC’s New York Deal Making conference say the string of retailer bankruptcies is about to end.

ICSC’s annual New York Deal Making conference got underway at the Jacob K. Javits Convention Center this week, with industry insiders in attendance claiming the months-long streak of retailer bankruptcies and store closings is tapering out and the retail sector should have a stable year in 2019. Here are some takeaways from Wednesday, the first day the trade show floor was open....


RSK: Great wrap-up. I like #3 which I have always maintained is where you want to be.
,br>Ken Notes: Read this!!

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Building For Sale: 4722 Hwy 78 Black Earth WI

Great investment opportunity! 48 +/- total acres; 17 acres zoned A-2 with a conditional use permit for a quarry; 32 acres zoned Commercial C-2. 36x90 Metal Pole Shed constructed in 2002; 44x75 Metal Pole Shed with 12 ft eaves, 18x44 ft space heated. 30x50 Kiln Building with a 16x50 lean-to; 14x50 lean-to & 12x14 lean-to. All buildings and the quarry are leased. Small home on site also.


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Crown Commercial Real Estate/Development, LLC

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

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Building For Lease: 4005 Felland Rd Madison W

4005 Felland Road, Suites 100-102, Madison, WI, End Cap!, 5355 square feet, Available November 1, 2018.


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Building For Sale: 615 Phillips Sauk City WI

Convenient, main thoroughfare in Sauk City offers 10,000 square foot tech-savvy business space that lends itself to a multitude of uses. 11 offices, 2 conference rooms, training room, break room, and lockers for 100 employees. PCI DSS compliant physical plant, full service electric and fiber optic options, climate controlled IT/Server room. Confidential appointments , contact Deanna...


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10 commercial real estate conferences to attend in 2019

Brokers know that prospecting, nurturing relationships, and networking are crucial for success in commercial real estate. One of the best (and most fun!) ways to network with a lot of people in a short amount of time is by attending industry events and conferences.

Conferences provide an opportunity to meet with people you might not otherwise meet in your local market. Beyond that, they often feature highly regarded industry speakers and continuing education sessions that keep you up to date on the latest trends and boost your industry knowledge. While there are many conferences to choose from, here are the top 10 that we think brokers should check out in 2019.


March 12-15 | Palais des Festivals, Cannes, France....

RSK: Put one or two of these on your list if you can.

Ken Notes: If you can not make the Cannes trip you can send me and I will give you a full report....

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Welcome to DSPS!
The Electronic Safety and Licensing Application (eSLA) is now live for the following: Delegated Agents, Dwelling Contractor Certifications, Manufactured Homes Licenses and Titling, POWTS Plan Review, Soil Certifications, Uniform Dwelling Code (UDC) Certifications, and UDC Inspection Agency Registration. Public Lookup is also live for these programs in eSLA. Click here for more information on our new system.

Every first-time eSLA user must create a new account by clicking one of the two options under the "New Users" heading on the left. Once you have created your account, you will be able to log in under the "Existing Users" heading on the right. Visit to get started.

RSK: Might as well let the DSPS of Wis know how you feel...

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Recent sponsors below...
Thanks you for sponsoring CIREX and

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MIG Commercial Real Estate

"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.

Professional Real Estate Management and Sales

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Newmark Grubb Gialamas

Newmark Grubb Gialamas specializes in investment sales, office, retail, industrial, land, multi-family properties and 1031 exchanges. Our knowledgeable, local brokers are subject experts in their field.

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T. Wall Enterprises

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

(608) 575-1018 or


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IA Management

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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Masters-hall Appraisal


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ST. Johns Properties
St. Johns
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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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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