This Weeks Articles...
Opinion: Opportunity zones are all sizzle, fizzle and the abuse of good intentions
`Ghost kitchens` are taking over fast-food chains from Chick-fil-A to Wendy`s
The Avenue taking form, see inside the ongoing construction work: Slideshow
Top CRE Execs Answer 3 Important Questions On The Future Of WeWork
Office building rooftops, terraces are multiplying with a vengeance
Battle of the Asset Classes: Which One Has the Edge?
Here’s a look at how WeWork’s $50 billion pile of office leases could unravel
WeWork Pulling Out Of Plans For Multiple Large NYC Leases
Allbirds, a shoe brand born online, to double stores
What a Top-Performing Real Estate Fund Is Buying Now
American Girl brings new in-store experiences to flagships
Duke on WeWork...
‘Granny Pods’ now allow your aging parents to live in your backyard
Building For Lease: Woodland Crest / Hy-Vee Outlots
Building For Sale: 7250 W Mineral Point Rd Town of Middleton
Building For Sale: 700 Wilburn Rd Sun Prairie WI
Building For Sale: Former State Bank of Cross Plains 744 N Main St Oregon WI
Need a primer on a commercial subject -- try searching CirexNews: Search Here!
The U.S. is in the midst of the longest uninterrupted economic expansion in modern history, and for several years, the chatter in commercial real estate circles has been that a recession might be just around the corner. As most developers, landlords and investors no longer assume the economy will keep expanding, some have decided it is time to start playing it safe......more
Opportunity zones, a bundle of tax breaks dressed up as economic development, are the epitome of government largess the Trump way — sizzle, fizzle, a sleight of hand and abuse of good intentions.
Created with fanfare in the deeply regressive 2017 tax reform law, opportunity zones are the latest and slickest version of the longstanding conservative strategy of taking from the poor to help the rich. Trump’s twist makes these all the sweeter for conservatives because they pretend to address problems Democrats care about, like providing affordable housing and creating good jobs for the people who live in low-income communities. The results to date show that the outcomes are more likely to be luxury apartments and sparse jobs, not affordable housing and employment opportunities...
The story of WeWork is a cautionary tale of epic proportions. It’s a fiasco of corporate failures, a CEO doing whatever he wanted despite obvious conflicts of interest, and cashing out before his co-working empire came crashing down.
WeWork’s former founding CEO Adam Neumann, described by those in the industry as “messianic” with an “enormous ego,” was everywhere. In 2018, WeWork was reportedly the biggest office tenant in Manhattan, overtaking JP Morgan, the investment bank. During peak WeWork hype, it was valued at US$47 billion. Then documents filed with U.S. regulators pointed to the unsettling concentration of CEO power, and, in less than two months, the company imploded...
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:
The Urban Land Institute and PwC have just released the real estate industry`s widely anticipated industry forecast, Emerging Trends in Real Estate 2020. The report indicates that while real estate economists are tempering their views on economic growth in the United States, they continue to forecast steady real estate markets and returns through 2021.
The outlook remains generally upbeat amid an escalation of the U.S.-China trade war, volatility in global financial markets and the inverted yield curve for U.S. Treasury bonds, which is among the most consistent recession indicators.
In spite of these headwinds, the forecast cites adaptability to change along with discipline as key factors in the industry’s ability to withstand an economic downturn and the possibility of softer real estate demand in the years ahead......more
According to the US Census Bureau, the average size of a home in 1973 was 1,660 square feet. By 2015 average home size had increased to 2,687.
Yet during the same time frame, average family size went from 3.0 persons down to 2.5 persons.
What does that tell us?
Today’s society is busy accumulating stuff. Consequently, marketing experts have capitalized on “bigger is better.”......more
The future of fast food could be ghost kitchens.
On Friday, Wendy`s became the latest fast-food chain to mention
delivery-centric locations without dining rooms or takeout, commonly
called ghost kitchens or dark kitchens...
For millennials, the outlook on home ownership is bleak: Housing values keep rising and incomes just aren’t keeping up.
But is the situation facing millennials, those ages 23 to 38, really worse than the housing environment that Gen X and baby boomers grew up in? To compare, HireAHelper analyzed U.S. Census Bureau data and isolated the years that each generation was entering independent adulthood in their 20s......more
After spending the last few weeks writing about the grocery industry, it is time to discuss another industry that is in an even greater state of upheaval — the shopping mall industry.
The mall game has become a split between the haves and the have-nots. Class A malls are thriving, while Class B and C malls are struggling. That is especially true of Class C malls. Pictures of recently abandoned malls, like the one above, are some of the scariest things going on the internet right now. One smart, enterprising mall in Minnesota even plans to convert an old anchor tenant location, formerly a Herberger’s department store, into a haunted house this October. Talk about irony!
The transformation of the former Shops of Grand Avenue in downtown Milwaukee is becoming reality in steel and concrete as its interior begins to look like the future modern offices and food hall it will become.
the attached slideshow for a tour through the West Wisconsin Avenue
mall’s former west arcade, where builders are busy at work on the $53
million redevelopment to create The Avenue.
It may only be September, but the December holiday shopping rush is just around the corner.
Around 50% of consumers have already started looking for items on their friends’ and family’s wish lists, according to a new online survey from The Harris Poll and OpenX, an ad exchange network, that polled 2,000 shoppers in August...
Biproxi — a leading end-to-end commercial real estate transaction platform trusted by the largest commercial brokerages — announced it raised $10 million in seed funding led by Greycroft. Newmark Knight Frank, RPM Ventures, and the National Association of Realtors also joined the round.
This funding round was announced along with the launch of a new product called Biproxi Off Market, an algorithmic-based data platform that provides instant property and valuation data on over 32 million off-market commercial properties. The platform was designed for brokers, buyers, and tenants. And it allows users to access detailed property data, historical sales data, assessed property values, and financing history for middle-market commercial properties valued up to $25 million......more
New York City is the most expensive place to develop in the U.S., and it’s hard to ignore the fact that rising labor costs, along with a shortage of qualified workers for certain tasks, are making it even pricier to build every kind of project, from office buildings to apartments......more
Hundreds lined up for the opening of Orange County`s latest food hall.
SteelCraft held a grand opening Sept. 26 for SteelCraft Garden Grove, an outdoor food hall made from 22 repurposed shipping containers. Ten food and beverage retailers occupy the space.
Local officials celebrated the development as part of Garden Grove`s plan to reimagine its downtown area.
It took eight and a half years for WeWork to climb to the top of the commercial real estate world, dominating the world`s biggest office markets and raking in billions in investment. It took less than two months for it all to come crashing down.
Much has been written about WeWork and now-former CEO Adam Neumann`s meteoric rise and precipitous fall. And while WeWork has some very public, very persuasive critics, those who it really needs to convince of its durability are future investors and the industry it spent years disrupting. That`s who Bisnow wanted to hear from, so that`s who we asked....more
At a Washington, D.C., housing conference on Wednesday, representatives of several major corporations and nonprofits each spoke to a growing recognition of workforce housing supply as a critical issue, even for companies in unrelated fields like tech and health care. Attracting top talent has always meant chasing workers to some of the country’s top real estate markets, but the executives that turned up to the event, hosted by Fannie Mae and the Urban Institute, acknowledged that their companies’ presences can also make life difficult for renters who might be squeezed out by induced demand......more
Tiny homes can cost anywhere from $8,000 to $150,000 to build, which is far less than the cost of the average standard-size home in the US. And the savings don`t stop there...
The U.S. job market is still strong, but some cities appear to have more pep than others.
The top three cities for the most job openings are Boston (up 8.4% year over year in September with 152,683 open jobs), Philadelphia (up 6.4% over the same period with 112,692 open jobs) and Atlanta (up 5.5% with 192,889 open jobs), according to Glassdoor’s latest job market report. That compares favorably to an overall growth of 3.5% in job openings annually in September, with total open job openings nearing 6 million....more
Two years after the Department of Buildings tried to ban them, office building rooftops and terraces — today’s hottest tenant amenities — are multiplying with a vengeance.
The great outdoors is the new frontier in Manhattan office-building design. Developers are including alfresco terraces and roof spaces in just about every new project, while owners of older properties are spinning them out of thin air.
Relatively cheap to install, the outdoor spaces are what many tenants want most, says CBRE Vice Chairman Howard Fiddle. Floors with terraces now command a 14% premium over non-terrace floors — with average taking rents of $105.35 a square foot clobbering taking rents of $92.34 in buildings surveyed by CBRE....more
WeWork is selling the luxurious plane that its cofounder Adam Neumann used to travel the world — a symbol of the company`s corporate-governance issues that have in part derailed its initial public offering...
It`s lunchtime. You have twenty minutes and ten bucks. Where do you go?
For many a sub sandwich lover, the answer to that question is Jimmy John`s, a chain known for its speedy, affordable subs made with fresh bread and generous mayo...
Adam Neumann has run WeWork since it first got its start nearly 10 years ago. On Tuesday, he stepped down from his role as CEO.
The 40-year-old Israeli-born Neumann is worth an estimated $2.2 billion, and has come a long way from the shoe-box-sized New York city apartment he first lived in in the early 2000s.
WeWork’s recent struggles have drawn a torrent of commentary and raised concerns about the viability of the flexible office concept writ large. But others are more optimistic about a sector that has surged in recent years, as office users increasingly demand workspaces with flexible lease terms and the ability to quickly scale up and down.
Adam Neumann’s resignation as CEO of WeWork this week marks a turning point for the embattled startup, which has built out a global empire of coworking spaces across 111 cities in 29 countries since its founding less than a decade ago. The leadership change, which reportedly came under pressure from shareholders of parent firm The We Co., follows the company’s decision this month to shelve its planned IPO...
The U.S. real estate market has performed outstandingly in recent years. But which asset class offered the best returns? Was it residential, industrial or office? Industry experts at a panels at 2019’s Expo Real—the yearly international real estate and investment conference taking place in Munich—advocated for different industries and provided arguments and examples to support their strategies.
Indraneel Karlekar, senior managing director at Principal Real Estate, the dedicated real estate unit of Principal Global Investors, referred to industrial as “the sexiest asset class” out there. “In 10 years, the value of industrial in the U.S. has tripled. This tells you how much interest there is there, how quickly this sector has grown in the last 10 years. Obviously, the other property types have also grown, but I find that industrial has grown three times, which is largest in terms of gains. It’s a really big liquid market,” Karlekar said...
In the beginning there was Adam Neumann.
Now, WeWork is facing a future without its energetic leader — who raised billions and opened hundreds of office-space locations, but ultimately led the company astray.
“I had so much respect for him when I got there,” said one former executive. “And I had zero when I left.”......more
Imagine if the next time you’re wandering the city searching for parking,
your phone could seamlessly direct to you a garage full of free parking
spots. Then, it could provide you with a digital entry ticket and allow
you to pay for parking in seconds with just the push of a button. That
future could be right around the corner.
“When people think of parking lots, the last thing they think of is
technology,” One Parking Chief Operating Officer Mark Pratt said. “But
there have been many innovations in parking technology in the last five
years, and they can lead to a more seamless experience for users and a
major boost in value for owners.” ...
Details emerge on proposed funding
WeWork became a darling of the New York City and San Francisco’s office property markets in less than a decade. Now the office-sharing venture could become a liability as it pulls back its expansion.
Here are five things to know about WeWork’s real estate footprint as the company looks for fresh funding after it shelved its initial public offering recently...
If you want to invest in real estate but don`t have a lot of expendable money, you`re not alone. Many new investors understand the benefits of owning real estate but don`t have tens of thousands of dollars in the bank to help them get started.
While having $20,000 or more will undoubtedly accelerate your real estate investing career, it`s not the only option. Several affordable investments allow people to invest in real estate, even on a tight budget. Let`s look at four cheap real estate investments so you can get off the sidelines and start investing.
Coworking giant WeWork has canceled or halted negotiations for multiple lease deals in the city, as it scrambles to right the ship after its attempt to go public this summer.
A deal to take at least 50K SF at 120 Broadway is off the table, as is a deal for hundreds of thousands of square feet at 250 Broadway, Crain’s New York Business reports. At 250 Broadway, WeWork would have filled some of the hole left when the New York City Housing Authority moves out this year......more
The We Company`s withdrawal of its initial public offering this week came as little surprise to even the most casual business news follower.
After splashing onto Wall Street with its first publicly disclosed financial prospectus on Aug. 14, the coworking company previously valued at $47B quickly saw both its reputation and the likelihood of a successful IPO tank.Questions and criticism arose about everything from CEO Adam Neumann`s compensation package to the company`s attempt to trademark the word "we," and WeWork took withering fire from analysts and suffered behind-the-scenes leaks about a culture that burned through $2.6B last year alone. ...
NEW YORK (AP) — Online shoe brand Allbirds plans to more than double its store count next year, hoping to reach shoppers who want to touch and try on its wool shoes.
The company said Tuesday that it plans to open 20 stores in 2020, bringing its total number of stores to about 35 by the end of the year.
While many mall-based retailers are closing locations, online startups like mattress seller Casper and men’s clothing brand Untuckit are expanding into brick-and-mortar stores....more
The U.S. economy reached its longest expansion phase in history in July, and Denver arguably has benefitted as much as any metro area in the country.
Dubbed 2018’s best economy in the nation, Denver’s office market has bloomed since the last recession as rental rates have reached historical highs and the market has experienced positive net absorption for eight consecutive quarters.Despite the strong fundamentals of the metro area, investors have grown increasingly wary of a coming recession as studies suggest that... ...more
The first half of 2019 proved to be yet another strong period in the big-box segment of the industrial sector, and despite certain challenges, more of the same is the likely scenario for the remainder of the year, according to Colliers’ 2019 midyear big-box market report.
The big-box industrial market comprises pre-cast or tilt-up construction industrial buildings that encompass a minimum of 200,000 square feet and are utilized primarily for distribution activity. At the close of the second quarter, there were 5,208 such facilities totaling nearly 2.4 billion square feet in North America, and the midyear numbers tell a positive story for the subsector. The average vacancy rate was 6.9 percent and the average taking rent, which has been on a consistent upswing since 2011, reached a record high of $5.03 per square foot. Overall net absorption totaled approximately 66.1 million square feet, surpassing mid-2018’s 61.5 million....
Nothing packs a community meeting like word that Mayor de Blasio wants to open a homeless shelter in a neighborhood. From Tompkinsville in Staten Island to “Billionaires’ Row” in Midtown, many residents, especially homeowners, share the same concern: Does being close to a shelter have a negative effect on property values?
The answer is yes. At least in Manhattan.
Your home would most likely sell for less if you live within about two blocks of a shelter, when another shelter is a few more blocks away. The city’s Independent Budget Office looked at sales in Manhattan and estimated that in such a situation, a homeowner would get about 24 to 25 percent less for a house or a condominium than for a residence farther from a shelter with no other shelters nearby......more
Owners of sick dolls in New York and Chicago have a new treatment option.
American Girl is introducing new retail experiences at its New York City and Chicago flagship stores, including a doll hospital in both locations. The hospitals offer a variety of free services, including a doll wellness exam with a specially-trained “doll doctor” who checks the pulse, temperature, and reflexes of each “patient.”......more
The Deal of the Year Awards & Annual Meeting recognizes the most notable commercial real estate professionals and transactions in Wisconsin. The awards event was created to highlight accomplished CARW REALTOR® members who have displayed exceptional achievement in sale and/or lease transactions.
Submission categories include: Office, Industrial, Retail, Investment, Development and more!...more
After spending the last few weeks writing about the grocery industry, it is time to discuss another industry that is in an even greater state of upheaval — the shopping mall industry.
The mall game has become a split between the haves and the have-nots. Class A malls are thriving, while Class B and C malls are struggling. That is especially true of Class C malls. Pictures of recently abandoned malls, like the one above, are some of the scariest things going on the internet right now. One smart, enterprising mall in Minnesota even plans to convert an old anchor tenant location, formerly a Herberger’s department store, into a haunted house this October. Talk about irony!......more
Sub-let for lease - former Michael`s Frozen Custard. Large parking area, outside seating on busy Monroe Street....more
Desirable 1st floor office space in the Greenway Blvd building overlooking Middleton`s business district. All office furniture included. 1,775 sq ft updated professional quality space immediate occupancy $2,500 per month Call Robin Koth for showings...more
2 adjacent properties - a 2 flat (305 Lodi) along with a small commerical contractor setup(303 Lodi) . Buy both or just one or the other....more
When we are kids, we rely on our parents for everything from food and shelter to emotional support and care. But time doesn’t stop for anyone. So there’s a moment where we find ourselves returning the favor. And when it comes to that we all want what’s best for our parents. Anyway, due to the lack of space or other reasons, sometimes they cannot live with us
Recent statistics show that more than 23 million Americans take care of their elderly parents. And many of these people have to choose between letting their parents to live alone or moving them into a nursing home. Nursing homes might be an option, but most of us want to keep the loved ones as closer as possible. So if you’re looking for a warm place for your parents to live in, but there isn’t enough space in your home and you don’t want them to go into a nursing home, ‘Granny Pods’ is the perfect solution....more
Welcome to Downtown Sun Prairie - located near Cannery Square, Full Mile Brewery, Right Bauer join the bustling Historic District with great storefront exposure and high traffic counts. Upstairs is a 2 bedroom apartment for either owner occupant or rental income......more
Popular Kelly`s Bar for sale after nearly 90 years of being family owned. This popular Friday Fish Fry destination is neat as a pin. Pride of ownership on display with the cleanest kitchen around! Spacious clean living quarters above. This would be a wonderful operation for anyone wanting to own their own bar/restaurant. A must see!.....more
Woodland Crest is Waunakee`s newest retail, commercial and multifamily development located on the southeast corner of Hwy Q and Woodland Dr. This 30 acre master planned development is anchored by a 57,000 sq. ft. Hy-Vee grocery store and three commercial outlot buildings. The outlot buildings have space available for lease from 1,500-10,000 sq. ft. See the attached brochure for more info.......more
Flex building of masonry & steel frame construction, concrete tilt-up ext. walls, slab-on-grade foundation. Building is part 1-story and part 2-story (mezzanine). Flat rubber membrane roof. Excellent visibility from US Hwy. 151, Wilburn Road and Columbus Street. Easy access. Well maintained building....more
An exceptional, 2 level professional office building with over 8,000 sq. ft. situated on a beautifully landscaped 1.6 acre highly visible Main Street lot. High quality concrete construction and steel roof, with front / rear access and parking. Interior features include vaulted ceilings with skylight, tile and hardwood trimmed casework, multi-zoned HVAC, elevator, full kitchen and elevator......more
New 61 Acre subdivision, vacant land parcels includes multi family, commercial and single family land near Tennyson Drive. Home lots under $69,000. Opening spring 2020. Now taking reservations. Country views, walking trails, landscape ponds. call marty 608-575-9562...more