CirexNews - CRE and Investment News

This Weeks Articles...

  1. Industrial Still Going Strong
  2. Flex Office Company Mindspace Locks Down $72M For Expansion In U.S., Overseas
  3. Why Companies Should Consider the ‘Hubquarters’ Model
  4. Casual dining restaurants didn’t just find their footing after a brutal 2020 — they’re also finding a new identity
  5. Inside the rise of `antiwork,` a worker`s strike that wants to turn the labor shortage into a new American Dream
  6. Work From Home Works Until You Need Time Off
  7. One retail sector that’s far from dead today? The ghost kitchen and the ghost franchise
  8. Contractors Raise Prices To Keep Up With Cost Increases, Especially To Build Warehouses: Up 13% In October
  9. Sears, Kmart could be facing their last holiday shopping season
  10. Forget reopening. The new COVID variant has `stay-at-home` stocks rebounding.
  11. building for lease 8 S. Carroll Street 8 S Carroll St, Madison, WI 53703
  12. Unprecedented Demand Fuels Record-Breaking Year For Chicago Big-Box Industrial
  13. More Investors Eye Grocery-Anchored Shopping Centers for Better Risk-Adjusted Returns
  14. building for lease THE BOULEVARD 3318 University Ave, Madison, WI
  15. building for lease 2960 Triverton Pike Dr Fitchburg, WI
  16. The trucker shortage is fueled by a misconception that the job is only for low-skilled people, who endure poor working conditions, says expert
  17. building for sale Former Pizza Hut 1424 US-51, Stoughton, WI 53589
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9th Annual Madison | Southern Wisconsin Commercial Real Estate Forecast Summit

December 2, 2021
7:30 am – 11:00 am CST
Sheraton Madison Hotel
706 John Nolen Drive
Madison, WI 53713

7:30 am

Registration, Networking & Breakfast

8:00 am

Madison Area Market Update: Industrial, Office, Retail and Multifamily

  • How COVID-19 has impacted the commercial real estate market
  • What are the strongest and weakest CRE sectors in today’s climate
  • Recap on major transactions and developments that have impacted the market
  • How can investors maximize their returns in today’s climate?
  • Future outlook for Industrial, Office, Retail and Multifamily sectors

9:20 am

Financing & Tax Strategies for Real Estate Professionals

  • Stimulus Update
  • Overlooked stimulus opportunities: ERTC and SBA provisions have huge impact
  • Opportunity Zones: Current opportunities and potential for expansion
  • Bonus depreciation: Last chance for a bite of the apple
  • 1031 Strategies & other tax opportunities investors need to know

10:10 am

Southern Wisconsin Economic Development Update and Opportunities in the Region

  • What tools or Strategies has your community identified as a game changing development tools?
  • Funding Strategies to get your deal done
  • Redevelopment, new development and where it’s taking place
  • Investment Opportunities in the Region
  • Development Opportunities in the Region

11:00 am

Adjourn


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Oliv Madison downtown development plan gets green light from City Council
A new form of affordable housing for university students is moving forward after the City Council approved an agreement with the developer earlier this week.

Now Oliv Madison, a proposed building from student housing developer Core Spaces, will go before the Plan Commission on Nov. 22.

The development, proposed for the 300 block of State Street, would make 10% of its beds available at a discounted rate through an agreement with the University of Wisconsin-Madison and the city. The building is expected to have approximately 1,100 beds...
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RSK: 10 stories is quite expansive for State Street...especially that close to the Capitol.

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Office Owners Embrace Wine, Golf and Karaoke to Keep Tenants

It`s all about the amenities race in New York`s post-COVID office market

Some New York landlords are leaving nothing on the field when it comes to keeping their offices viable in the post-COVID world.

At 730 Third Avenue, a 27-story, 666,000-square-foot tower in the Grand Central Terminal district, owners Nuveen Real Estate, asset manager for financial services company TIAA, aren’t taking any chances. In addition to the Gensler-designed outdoor terraces and the food hall and the fitness center that are now de rigueur for Manhattan skyscrapers these days, they’re trying bees and golf....
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RSK: I say whatever it takes especially if it promotes workers well being.

Ken Notes: I have been writing about this for TEN years. When EPIC first came to Verona (I was on the City Council) and they outlined their concept for an office that stimulates better output I thought this is going to catch on. In fact it goes back to the 80`s when I read a story about the original Macintosh computer merging hardware and software after a volleyball game between the two divisions...

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Industrial Still Going Strong

The latest CommercialEdge report shows how the sector has stayed stronger than ever, even despite global supply chain setbacks.

The industrial market has continued to make gains in virtually every aspect, the latest CommercialEdge report shows. Though the sector has been affected by myriad difficulties, from severe supply-chain bottlenecks to skyrocketing construction costs, demand for industrial real estate has only grown.

Nationwide, industrial rents hit an average of $6.37 per square foot in October, a 3.9 percent gain over the year. New leases had an average premium of $0.82 per square foot, highlighting the sustained, elevated demand in the sector across the country. The highest rents were in California, with Orange County averaging $11.47 per square foot followed by the Bay Area (at $10.87 per square foot) and Los Angeles ($10.20 per square foot)...
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RSK: Still the darling sector of CRE.....and will be for some time.

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Kroger is taking on Publix in Florida without opening a single grocery store — and building a blueprint for its future

GROVELAND, Fla.— Kroger wants to attract tens of thousands of new customers in Florida — and it plans to do that without opening a single grocery store.

Instead, the supermarket operator is relying on a giant warehouse of robots that help retrieve such products as bananas, milk and meat, and a fleet of delivery drivers that drop off online grocery orders at people’s doors. The automated warehouse — big enough to fit nearly eight football fields — is a pricey bet for the grocer and an illustration of its e-commerce ambitions.

  • Kroger is using a giant, robot-powered warehouse — instead of opening stores — to break into Florida, a new market for the country’s largest supermarket operator.

  • It plans to use the same strategy in the Northeast, where it will deliver online orders to homes and serve customers in New York, New Jersey and Connecticut for the first time.

  • The automated sheds are a key piece of the company’s growth strategy and an effort to turn e-commerce into a bigger, more profitable business in a notoriously low-margin industry.
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RSK: They may not be opening store real estate but they will be consuming a huge warehouse space. Will be interesting to see how this online only works out. Will pave the way for others to expand without opening retail stores if it works....which I think it just might.

Ken Notes: This is going to become a trust issue, when I call Millers and ask for two ribeyes I know I will be very happy, when I call Walmart I KNOW I will be very disappointed...

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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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`Destination Versus Desperation`: Upscale Convenience Stores Are Coming For Prime Retail Locations
When Paul Nair opened the first location of his upscale neighborhood grocer, Savi Provisions, in Atlanta`s Inman Park neighborhood in 2008, he didn`t realize he was on the cutting edge of a trend that has begun to reshape retail markets from the suburbs to prime corners of Manhattan.

Savi Provisions, which serves curated wines, high-end cheeses and chef-prepared meals, should open its 25th location next year after expanding to Nashville, Savannah, Durham, Raleigh and Charlotte, Nair said, and his next concept is doubling down on the collision of convenience and craft food and beverage...
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RSK: It is happening in our market as we type.

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There`s a straightforward way for businesses to attract young workers in a competitive labor market: affordable childcare
As a labor crisis continues to hamper US businesses, access to affordable childcare could bring millions of workers back into the workforce.

Access to childcare was an issue before the pandemic, but the closure of daycare centers and shift to working from home exacerbated the problem. As Hannah Matthews, deputy executive director for policy at the Center for Law and Social Policy, recently told The Wall Street Journal`s Kathryn Dill: "The pandemic worsened the realities of child care in this country."
  • Millions of people are "missing" from the workforce because they`re home providing childcare.
  • But bumping up pay or offering bonuses isn`t fixing the labor shortage.
  • Companies need to offer better benefits, specifically childcare, to lure more workers, experts say.
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RSK: This is one way but definitely not the only way. Many young workers are male, many women at that age do not have children. But it would help...

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Urban Is Coming Back Strong… And Better Than Ever Before
It has always seemed to me that you were either made for urban life or not. The Green Acres theme song plays in my mind that has the very stereotypical city lover, Eva Gabor, challenging her farm-loving husband: “New York is where I’d rather stay. I get allergic smelling hay. I just adore a penthouse view. Dah-ling I love you but give me Park Avenue.”


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RSK: You can see this happening in our market area. People want sustainable neighborhoods and subdivisions with goods and services nearby. You will also see the office market tighten up a bit in urban business parks rather than central business district. Workers want to ditch the downtown commute and work closer to where they live...

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Flex Office Company Mindspace Locks Down $72M For Expansion In U.S., Overseas
Flex office space continues to be a popular leasing choice in the wake of the coronavirus pandemic, and an Israel-based provider is feeling the gains.

Coworking operator Mindspace, which has locations in San Francisco, Washington, D.C., and Philadelphia, has locked down $72M in an investment round. The company plans to use the funds to expand in the U.S. as well as Europe, where it already has a large presence, and Israel, according to a company statement.

“Mindspace is experiencing an impressive growth momentum and high demand in all its locations,” Mindspace CEO and co-founder Dan Zakai said in the statement. "We successfully faced the many challenges of COVID. Today, our locations are almost at full occupancy.” ...


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RSK: Co-Working is back on the rise.

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Why Companies Should Consider the ‘Hubquarters’ Model
Companies are finally moving away from the traditional workplace centered around a corporate headquarters where employees gather on a daily basis and all the leadership presides. When employees were forced to adjust to working away from the office during the pandemic, some discovered that their productivity relied less on where they work and more on how they work.

Now, employers are looking at innovative workplace models that incorporate the new lessons  learned during the pandemic. These models include improved versions of prior workplace trends. Hub and spoke, for example, is a popular model used by many companies that includes one central office and smaller satellite offices...
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RSK: I like this concept. Unless you have a couple of Golden Retrievers laying at your feet in your home office, why not go somewhere to work with humans to interact with?

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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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Casual dining restaurants didn’t just find their footing after a brutal 2020 — they’re also finding a new identity
The COVID-19 pandemic cast a dark cloud over the entire restaurant industry, but some segments have weathered the storm better than others. Despite the challenges of the last two years, many major casual-dining chains are reporting huge sales growth over 2020 as well as 2019, and they are experiencing some of the industry’s highest levels of customer satisfaction...


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RSK: To be honest...most Madison restaurants are casual dining but, even the ones we call upscale, such as Johnny Delmonico`s and The Harvey House are experiencing an uptick!

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Why All Landlords Should Implement RUBS

Ratio utility billing systems help control costs at properties of any size, writes Mark Ventre of Stepp Commercial.

With inflation at a 13-year high, energy prices are reaching devastating levels and are expected to worsen as we move into the winter months.

Crude oil has risen 66 percent this year, heating oil has risen 86 percent, natural gas prices have almost tripled, and gasoline is up a dollar per gallon nationwide. Finally, those that use propane can expect to pay 550 percent more than this time last year.

These prices affect everyone including apartment owners. With all that has occurred over the past 18 months, some landlords have told me they are barely hanging on. The threat of skyrocketing utilities now has them concerned they may have to sell their property. Even buildings with individual meters for gas and electricity often have a master meter for water, which is generally the costliest of all utilities and is paid by the owner. Further exasperating the situation in some major cities is rent control as well as pandemic-related eviction moratoriums. ...


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RSK: Great idea but you will need to write this into the lease.

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Survey identifies leading retailer holiday concern
One in four retailers is worried about the same supply chain issue as the holidays approach.

According to the “2021 State of Shipping Report” from multi-carrier e-commerce shipping software provider Shippo, shipping” was mentioned in 23% of responses from surveyed retailers to the question, “What keeps you up at night when it comes to readying your business for the 2021 holiday season?”

While the results do show that most retailers remain optimistic, more respondents expressed concern about holiday shipping than in 2020...
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RSK: This is the ying and yang of online retailing vs brick and mortar in store buying. When people come to a physical store they are in a sense the delivery aspect. So, now when you rely on online shopping and delivery someone else has to do the delivery....and the supply chain wasn`t ready for it.

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Inside the rise of `antiwork,` a worker`s strike that wants to turn the labor shortage into a new American Dream
Larry had a vision after he graduated college: He and his then-wife were going to be a "power couple." They were going to actualize their American dream. They`d buy a house in the suburbs and go on vacation every two years.

That vision of the perfect life eventually shattered. His then-wife saw through the illusion of work, he said, and quit to take care of their children and her elderly father. It took him a little longer to get there.
  • The "antiwork" movement is rapidly growing, as people — especially Gen Zers — embrace a work-free lifestyle.

  • Both an online and in-person movement, it`s about workers pushing back against exploitation and rethinking possibilities.

  • Insider spoke to three antiworkers about why they`ve left working behind, and what it means about the American Dream.
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RSK: Again, as long as you get what you need and someone else pays for it why work? Kind of the demise of the good old USA.

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Zillow’s iBuying flop: Company listed nearly two-thirds of homes below purchase price

Firm is pausing buying for rest of 2021

Questions over the profitability of Zillow’s iBuying practices in the increasingly competitive space appear to be close to the operation’s troubles detailed in an Insider analysis.

Insider examined the company’s listings on October 27 in five markets: Dallas, Houston, Phoenix, Atlanta and Minneapolis. The outlet found almost 64 percent of the homes were listed for sale for less than Zillow paid for them, with a median difference of $16,000...


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RSK: Is it a sign of the times? Have housing prices neared their peak or is it just they bought the wrong inventory. In either case Zillow is dropping it`s purchase division and laying of 25% of it`s workforce.

Ken Notes: Real Estate investing requires local professionals with some skin in the game and Zillow`s concept of using data only to make decisions will not serve them well.

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A record 111 container ships are floating off California`s busiest ports, despite Biden`s 24/7 schedule and looming fines
The number of container ships stuck off the coast of Southern California reached new records on Tuesday.

According to data from the Marine Exchange, a total of 111 container ships are bobbing at sea around the ports of Los Angeles and Long Beach, waiting to dock and unload. That breaks the previous record of 108 vessels reported on October 21.
  • The number of container ships stuck off the ports of LA hit a new record on Tuesday.
  • The ports remain clogged despite Biden`s 24/7 schedule and looming fines for lingering containers.
  • Prior to the pandemic, the ports` highest record had been 17 ships waiting to anchor.
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RSK: My take on this is; we need to ease restrictions on trucking and dual trailers. Since we have less truckers we need to tandem the trailers for now. Secondly, there is a lot of empty commercial space out there. Not necessarily warehousing but vacant class c and b office space,. Let`s get creative and use some of that and use it as storage. We could also put up temporary warehousing if cities would have an emergency zoning ordinance to allow this. Let`s get creative US!

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ABSTRACT Commercial Real Estate LLC






Heather Ewing - 608.239.4781 - Heather@ABSTRACT-CRE.com

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CRE Talent Crunch Has Meant Higher Pay And Better Benefits

The tumultuous last 18 months in commercial real estate has, like so many other industries, empowered workers during a talent shortage, pushing CRE firms to ramp up compensation and benefits in response.

“There`s a real war for talent, and it`s impacting the things we do," CBRE CEO Bob Sulentic said during an earnings call last week...

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RSK: I think CRE Companies are in for a jolt if they do not tend to this trend.

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Tech Accounts for 22 Percent of Office Leasing Activity in North America
Up from 17 percent share in 2020

Based on CBRE`s latest annual Tech-30 Report, the tech industry led a rebound in U.S. office-leasing activity in 2021, fueled by increased hiring and demand for tech products and services. Tech companies claimed a 22 percent share of U.S. office-leasing activity in the second and third quarters combined, up from 17 percent for all of 2020.

This year, tech companies` office leasing activity increased by 122 percent on average in the second and third quarters, compared to the first. In addition, more than two thirds of the top 30 North American tech markets registered office-rent growth from the second quarter of 2019....

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RSK: Madison, although a 3rd tier city, is ripe for more of this. We have the educated work force and can draw in even more talent if needed.

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Here are the states where the most Americans quit their jobs in September when a record 4.4 million walked out

New data shows which states saw the most people quit their jobs in September when a record 4.4 million Americans walked out of work.

Overall, the labor shortage is slowly fading. Job openings dipped to 10.4 million in September, signaling more Americans took jobs that month. But record quits signal the workers are still in an unusual state of flux, and like many aspects of the pandemic recovery, the wave of walkouts is extremely uneven...

  • Hawaii, Montana, and Nevada faced the highest rates of workers quitting in September.
  • September saw fewer job openings while quits surged to another record high of 4.4 million.
  • The latest data shows some states are struggling to match unemployed workers with open jobs.
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RSK: As could be predicted, Wisconsin lies in the middle of both jobs that were people quit and job openings.

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Work From Home Works Until You Need Time Off

How do we “take a day to stay home” when we’re already doing everything from home?

The change started about a year ago. I had just finished cooking my Thanksgiving turkey. I’d picked up smoking meats as a hobby during the first year of the pandemic, but that day, I couldn’t really taste much. Later that night, I wasn’t able to smell anything. Soon I was quarantined in a room in our house. For 11 days my wonderful, patient wife would bring bottles of Pedialyte to my door. I was scared. I was in pain. My internal temperature oscillated between freezing cold and boiling hot. My brain felt like it was bouncing around in my skull. And yet, I grabbed my laptop with the urge to work....
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RSK: Simple to me....go into the office for a day or two a few hours at a time, then have lunch with a coworker, back to the office for an hour or two....then meet for a beverage somewhere for more social interaction with colleagues.

Ken Notes: We will need to shift from hours to outcomes and this should have been done long ago...

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DECEMBER 2021 - 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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Opus Group developing 279,872-square-foot industrial building in Kenosha

The Opus Group is developing a 279,872-square-foot speculative industrial building in the Midwest Transportation Center in Kenosha, Wisconsin.  

Less than three miles from the four-way interchange of Interstate 94 and Highway 50, the industrial building will offer tenants freeway access. In addition, the 14.6-acre site is one of very few infill industrial sites remaining in Kenosha offering close proximity to numerous hotels, restaurants, retail outlets and corporate users. ...

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RSK: This area in Kenosha is on fire...in the good way. Warehousing is drifting in from Chicago and northern Ill to this are of Racine and Kenosha....and a spec to boot. I will try and follow this property because I believe it will occupy quick;y.

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Cushman & Wakefield Invests $150M in WeWork

The move is the latest step in this new partnership.

Cushman & Wakefield has made a $150 million strategic investment in coworking powerhouse WeWork, the real estate firm announced Friday.

As part of this investment, Nathaniel Robinson, Cushman & Wakefield’s CIO & executive vice president of Strategic Planning, will be an observer to WeWork’s Board of Directors...
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RSK: Maybe this time around WeWork is poised to make it, especially with a high level CRE Exec on the BOD!

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Zillow`s home-buying debacle shows how hard it is to use AI to value real estate
 (CNN)In February, Zillow appeared so confident in its ability to use artificial intelligence to estimate the value of homes that it announced a new option: for certain homes, its so-called "Zestimate" would also represent an initial cash offer from the company to purchase the property.

The move, touted by a company exec at the time as "an exciting advancement," was intended to streamline the process for homeowners considering selling to Zillow as part of its home-flipping business. Zillow promoted this option as a way to make it convenient to sell a home while minimizing interactions with others during the pandemic. Just eight months later, however, the company is shutting down that business, Zillow Offers, entirely...
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RSK: Again it goes to show that a human real estate agent can use data as well as the human gut feeling element, It is an art as much as a science and AI misses the art and judgement component...

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513-515 N Lake StMulti-Family: Mixed Use
Retail Space For Lease
Floor 1, Suite 515
2,500 SF $40.00 Annual/SF

• > 2.5M Pedestrians Annually one block away

• High Visibility at a Prime Location near the iconic spaces such as theMemorial Union on Lake Mendota, the Red Gym or State Street Brats

• Surrounded by Mixed-Use Developments Adding > 4100 Beds

• Proximate to the NEW Target, Mooyah, Raising Cain`s Chicken Fingers, Colectivo Coffee and other strong local, regional and national retailers

• Nearby Parking Ramps

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One retail sector that’s far from dead today? The ghost kitchen and the ghost franchise
Ordering food from a delivery app? The odds are it might come from a ghost kitchen. And if you don’t know what these are, you will soon. Industry analysts say that these kitchens – which prepare foods either from online-only restaurants or from several traditional restaurants in an area – are becoming a big part of the U.S. restaurant business.

Ghost kitchens, at their most basic, are commercial kitchens that don’t come with storefronts. They also don’t come with any physical dine-in or drive-through restaurant attached.

Instead, they are spaces that restaurant owners might rent to prepare food off-site so that they can deliver it more quickly to their customers....
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RSK: Not that many in our market area unless they are preparing meals for organizations etc. It is more fast food than anything else...like a lot of pizza places which have little seating but do a load of delivery.Anyone know of the contrary please email us and let us know.

Ken Notes: We will see lots of creativity in the restaurant space, I was blown away that there is a Walburgers in HyVee, total hard costs three TV Menu Screens and signage. No kitchen, no building, no interior, just add sauce and seasoning and charge 8 bucks for a quarter pounder...

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building for lease THE VARSITY 405 N Lake St, Madison, WI

Visibility!

Expand your client base at this Highly Visible location that offers >2.5M annual pedestrian foot traffic and ~33,200 VPD. Ideal for an established operator looking to lease a prime location in the Heart of Downtown Madison. Suite 2 is 1889 SF (facing University Ave); Suite 3 is 880 SF (includes Mezzanine and is facing N Lake St). The space is surrounded by various mixed-use developments adding over ~4100 beds which is revenue for you! Proximate to the new Target, Mooyah, Raising Cain`s Chicken Fingers, Colectivo Coffee and other strong local, regional and national retailers. Designated #6 in the nation for Top Livability according to SmartAsset`s 2021 study. Ask about the upcoming Retail Grant.
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building for lease 313 W Johnson Street - Madison, WI

TURN-KEY KITCHEN | 332 Built-In Customers

Heaven on Earth! This TURN-KEY location is ideal for an established operator looking to lease at a prime location. 332 Built-in Customers as this is an established Mixed-Use development near the upcoming Target, proposed Mixed-Use development by Core Spaces, the Overture as well as various local and regional retailers. Enclosed parking (2 stalls) as well as street and various nearby City ramps for the 24,850 VPD + approx. 2M pedestrians annually within steps of your entrance. Designated #6 in the nation for Top Livability according to SmartAsset`s 2021 study.

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building for sale 1760 Eagan Rd Madison, WI

East Towne Mall Box Site

Great opportunity to own part of the East Towne Mall area. Large 3.3 acres box site located directly across from the mall entrance and main entrance to Culvers. High traffic count near mall. Single tenancy or easily demise to former multi-tenant use of 20,000 sf, 12,000 sf and 8,000 sf users. REDEVELOPMENT OPPORTUNITY The property is part of the Great East Towne Area Plan and the City of Madison Concept Plan indicates a future Land Use of Medium Residential.

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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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The Travel Ban Is Lifting, But Big-City Hoteliers Still Expect Sluggish Return
Multiple pandemic-era bans on international travelers coming to the United States are ending next week, but hoteliers in gateway markets aren’t predicting a major spike in bookings just yet.

“I think it`s just going to roll in slowly. I don`t think people are just gonna jump on a plane,” said Richard Born, whose BD Hotels owns more than 20 hotels in New York City. “Everybody`s been so stunned by what`s happening, everyone`s lives have been changed. ... There is enormous pent-up demand after a year and a half of being locked up, [but] I don`t see the reservations, and I just don`t mentally believe that all of a sudden, on Nov. 8, all of Europe and Asia is going to come to the United States.”...
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RSK: Still a tough road for the Hotels and until people feel comfortable going to conventions again, it will no doubt remain that way for some time.

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Personal Guarantees and Business Loans

Before you sign on the dotted line, understand exactly what a personal guarantee on a business loan means to your financial future.

  • Most small business loans require a personal guarantee from anyone who owns 20% or more of the business. 
  • Personal guarantees are usually provided as additional security for the lender on top of other collateral. 
  • If the business later defaults on the loan, anyone who signed a personal guarantee can be held responsible for the remaining balance.
  • This article is for small business owners considering personally guaranteeing a business loan.
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RSK: A good primer on this subject. Answer is yes and noi. It does come with liabilities problems.

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CVS to close stores and create new formats in health push
CVS Health will close 900 stores over three years and launch new formats as part of its strategic push to create health destinations in the communities it serves.

The retailer, which operates over 9,000 locations, said in a release that it has evaluated “changes in population, consumer buying patterns and future health needs to ensure it has the right kinds of stores in the right locations.” This analysis led CVS to the decision that it was overstored in some areas. The chain plans to shutter around 300 locations a year over the next three years.  It will take an impairment charge in the fourth quarter of between $1 and $1.2 billion to write down associated costs.

CVS, which acquired insurance provider Aetna in 2018, has also experimented with new modes for meeting customer healthcare needs, such as telemedicine...


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RSK: Check out the comments below the article. Didn`t think CVS was a major player? Well, guess again...they are buying Aetna Insurance.

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Contractors Raise Prices To Keep Up With Cost Increases, Especially To Build Warehouses: Up 13% In October
As U.S. consumers experience the strongest price inflation in 30 years, contractors are seeing their own brand of inflation that is putting the squeeze on the construction industry and is now causing contractors to raise what they charge.

Bid prices charged by contractors for new structures shot up across commercial development sectors in October compared with September, according to the Bureau of Labor Statistics, which tracks inflation for producers as well as consumers.

Most notably, the cost of building warehouses increased 13% for the month, far more than any other property type the BLS tracks....

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RSK: Supply and demand not only for goods but for general help overall.

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building for lease LAMPHOUSE Mixed-Use Development 203 E Main St, Waunakee, WI
NEW Mixed-Use Development, BTS with venting chase in place, patio space, > 17,100 VPD, 10:1 Parking Ratio (with 3 access points). Built-In Customers, new Veridian neighborhood (over 650 homes) directly behind. Top Tier demographic beckons stand-out retailers such as Lone Girl Brewery, Buttercup Beauty, Anytime Fitness, Dunkin Donuts and convenience around the corner with Kwik Trip and Walgreens...
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building for lease 330 State Street - Madison, WI
Are you looking for a small Retail space with abundant light? This 1100 SF space is located at the junction point of the street which brings in college students and young professionals to a more mature age demographic working or living on/near the Capitol Square. As part of the Business Improvement District (BID), enjoy various events and programming which amplifies the 1M+ visitors to State Street annually. Easy parking with ~ 17 Parking Ramps in the area. Adjust the space to fit your needs while enjoying the lovely weather from the outdoor seating...
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Building For Lease: The Monona Executive Bldg - 4915 Monona Dr Monona WI

Across from Golf Course on newly revamped Monona Dr. Many suite sizes available from 100 sf up to 2,300 sf. Spaces can be combined for smaller/larger suites. Plenty of parking and new improvements going in. Rates from $10-$12 per sf. Common Conference room. 3 floors with elevator. Easy access to beltline and interstate, downtown.

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Warehouse Construction in U.S. Hampered by Supply Chain Delays

Increased Material Costs Also a Drag on Building Completions


According to CBRE, demand for warehouse space remains historically high, but developers are struggling to complete construction projects on time due to increased material costs and shipping delays.

Construction completions are down 6.1% year-to-date, despite an under-construction volume of 432.6 million sq. ft. in Q3, a record high. While demand is driving many new projects to launch, escalating costs and shortages of materials such as steel, curtainwall, and rebar, are causing many developers to delay projects after they break ground.
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RSK: Even the darling of the CRE sector is having supply chain problems.

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Majority Of U.S. Employees Skeptical About Return-To-Work Plans
As many employers push back deadlines to return to the office, employees are growing less confident in their company’s return-to-work plans, a new survey suggests.

The findings come as many of the country’s big-name employers are still weighing how and when to bring employees back to the office, with companies like Google now looking at a return sometime in 2022.

A survey released Wednesday by workplace analytics company Humanyze found that 63% of the nearly 2,300 employees who responded lacked full confidence that their company’s post-pandemic workplace strategy was the best for employees. The results represent a significant rise over the 46% of survey respondents who felt the same in April, Humanyze noted...
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RSK: If you are vaccinated and not compromised health wise, why wouldn`t you return to work? You have a better chance of being in a car accident on the way than from getting a serious case of Covid. I think many people just inherently do not want to work very hard.

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Sears, Kmart could be facing their last holiday shopping season

When the two historic brands merged in 2005, there were 3,500 stores nationwide. Now, however, you`ll only find 21 full-line Sears stores left, and just six Kmart stores.

Retail experts predict those numbers will be down to zero soon.

Sears closed its 143,000-square-foot store at Portland`s Lloyd Center in April of 2018. It served as a longtime fixture at the mall.


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RSK: A few Big Boxes will be vacant soon....although Sears has been on the way out for a few years and K Mart is usually free standing compared to Sears end cap of a Mall. JCP will probably be next as a physical destination other than pick up and return.

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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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High New Construction Prices, Highly Trained Workers Revive Old Manufacturing Towns, Properties
The industrial boom isn’t just about sleek new Amazon warehouses. Even older manufacturing properties are finding second lives that soften the blow whenever firms decide to pick up stakes and move on.

That has been the experience so far in Montgomery, Illinois. Caterpillar’s 2017 decision to sell and mostly close its 1950s-era manufacturing complex there could have left behind economic devastation. But the village of 20,000 and its largest plant are already on the path to recovery....
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RSK: I guess, where there is a talented pool of manufacturing labor, they will come.

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A 20-year truck-driving veteran explains why the solution to the supply-chain crisis is in sight but greed is getting in the way
Companies know how to solve the supply-chain crisis, a truck-driving veteran said, but they just don`t want to pony up the cash.

Nearly every element of the US supply chain is stretched too thin. Key ports are badly congested, with a historic number of cargo ships waiting to unload containers. The mess boils down to "pure supply and demand economics," Ryan Johnson, who has been a truck driver for 20 years, said in an October 27 Medium post. As the economy reopened, Americans flush with pandemic savings unleashed a wave of pent-up demand that has swamped the supply chain.
  • The US doesn`t have enough drivers to solve the shipping crisis because of greed, one driver said.

  • On top of higher pay, companies must accept smaller profits in the port business, he said.

  • Firms` prioritization of profits created a workforce "that will leave in a heartbeat," he added.
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RSK: Another possible solution to the supply chain problem and it makes some sense.

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North America Office Space for Sublease | Q3 2021
Sublease Office Sector Inventory Declined for First Time Since Pandemic Began

The North American sublease market may have finally peaked after several quarters of increasing inventory. This timing would match a similar path to previous recessions when sublease space increased for approximately two years before hitting its highest point and then receding.

In Q3 2021, sublease office space declined in more than 50% of North American markets, including 20 markets where sublease inventory dropped quarter-over-quarter....
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RSK: Finally some good news for the office sector.

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Forget reopening. The new COVID variant has `stay-at-home` stocks rebounding.
With the ink barely dry on news of another COVID strain, Wall Street is already betting big on another round of lockdowns.

The new variant of coronavirus discovered in Africa has quickly revived worries of another virus wave, as experts fear its many mutations could make it more infectious — and potentially vaccine-resistant. The variant, named B.1.1.529, has already been found in South Africa, Botswana, and Hong Kong. The world economy had only just seemed to put the Delta wave in its rearview before this new strain, which stands to freeze the global recovery in its tracks all over again....
  • Remote work and vaccine stocks rallied in Friday trading as traders bet on the new coronavirus variant to spark fresh lockdowns.

  • The rest of the market slumped the most all year, overshadowing strong 4Q forecasts and data showing a budding boom.

  • It shows the "stay at home" trade is suddenly back on, and reopening is in doubt yet again.
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RSK: Let`s see, if masks are so effective, and we have a mask mandate here in Dane County, why won`t people return to work...especially if vaccinated?

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Leisure and hospitality workers are quitting their jobs at more than twice the record national average

Coronavirus is likely still driving some Americans to quit their jobs, especially in industries that involve lots of close interactions with other people. This includes the job positions that make up leisure and hospitality.

Americans continued to leave jobs in September. Overall, 4.4 million Americans quit that month, and job openings dropped to 10.4 million. Daniel Zhao, senior economist at Glassdoor, told Insider that "normally job openings and quits move together."

  • September was another month in the "Great Resignation" as the US quit rate hit a high of 3.0% — with 4.4 million leaving their jobs.

  • Restaurant and entertainment workers in particular are quitting at high rates — more than double the national average.

  • Glassdoor`s Daniel Zhao said the US is seeing "Delta-induced quits" as workers in "COVID-sensitive" industries leave.
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RSK: I do not think Covid is the main reason here....just the tipping point. I see people treat these workers with very little respect and are often insulting to them. That is more of a driving force to me.

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CARW 2020 Events and Resources

CARW Holiday Party

December 1 @ 4:00 pm - 7:00 pm   


The CARW holiday party is back.  Join us for cocktails and hors d’oeuvres and holiday cheer on WEDNESDAY, December 1st.

Where:
Bradley Symphony Center
212 W Wisconsin Ave, Milwaukee, WI 53203

When:
Wednesday, December 1st, 2021
4:00-7:30 PM

Cost:
Members $25
Non-Members $75

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Ken Notes: Thank you Tracy Johnson President and CEO of CARW for keeping me in the loop.

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Infrastructure Bill Poised To Push `Significant` Dollars Into U.S. Data Centers
The Bipartisan Infrastructure Investment and Jobs Act, currently awaiting President Joe Biden’s signature, will direct more than $130B in federal spending toward improving digital and energy infrastructure — programs that industry leaders say may change the landscape of where and how data centers are built.

“I don’t think there’s any doubt that the impacts on the industry are potentially significant,” said Greg Riegle, managing partner at McGuireWoods Northern Virginia practice, speaking with Bisnow after the bill’s passage by the Senate.

“The industry as a whole has always pushed resiliency, stability and, increasingly, sustainability in the industry and the networks that support it, whether power or fiber, so I think the objectives of the legislation are well-aligned.”...
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RSK: This may be the new up and coming darling of commercial real estate!

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building for lease 8 S. Carroll Street 8 S Carroll St, Madison, WI 53703
Great location on the Capitol Square surrounded by long-term tenants such as Cooper`s Tavern, Septi Fitness, Fromagination, Genna`s Lounge, and more. Simple changes will expand this open concept with kitchen area and reduce build-out costs as the restroom is already installed. Nearby parking garage and easy access for bicycle and bus transit. Be amidst new development projected for the Square and Judge Doyle Square. Additional Lower Level is 2790 SF at $21/SF NNN.
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Unprecedented Demand Fuels Record-Breaking Year For Chicago Big-Box Industrial
Industrial users of the Chicago region’s biggest and most modern buildings just blew past the previous quarterly record for absorption, according to a Q3 report from Colliers International. This record-setting pace has gone on throughout the year, with users of big-box properties already setting a new annual record for absorption, even though one quarter remains.

Companies such as Amazon, Unis, Walmart and many logistics firms have scrambled throughout 2021 to lease the space needed to handle accelerating consumer demand. That competition pushed the big-box vacancy rate below the overall industrial rate for the first time since these numbers were tracked, Colliers found. It has also changed the fortunes of industrial developers, who until recently could sometimes wait years to fill up new buildings. 
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RSK: This trend is not just Chicago but all over the US!

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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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Amazon Targets Jersey City for Major Office Space Expansion

E-commerce giant has been expanding in New York region
Companies moving to waterfront complex can get tax breaks

Amazon.com Inc. is looking to add office space in New Jersey as it expands in the New York City region....

The e-commerce giant is close to a deal for roughly 400,000-square feet (37,000 square meters) of space on the Jersey City waterfront, according to people familiar with the matter, who asked not to be named because the talks are private. It’s targeting a building called Harborside 1 at a Mack-Cali Realty Corp. complex....
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RSK: Be careful here. This doesn`t necessarily mean the economy is expanding....it just may mean Amazon is expanding and possibly consolidating some of its space into one larger building...

Ken Notes: Isn`t the Jersey waterfront where all the organized crime bodies are buried????

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Retailers lose love for Asia: Snarled supply chains force manufacturing exodus to Balkans, LatAm (Nov. 9)
Nov 9 (Reuters) - (This Nov. 9 story corrects to clarify reference period in paragraph 8 as first half of 2020 instead of whole of 2020)

Major clothing and shoe companies are moving production to countries closer to their U.S. and European stores, smarting from a resurgence in cases of the Delta variant of the coronavirus in Vietnam and China that slowed or shut down production for several weeks earlier this year...
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RSK: Next step would be to the USA...but with CRE prices high, taxes and wages going even higher, I doubt that will work. This is a good option however to help with the supply chain problem, even though the lack of truckers is the major concern.

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Macy’s plans to shut 10 department stores in January while delaying other closures

Macy’s said Thursday it is reconsidering when it will close the roughly 60 remaining open stores out of a batch of 125 that were on track to go dark by 2023.

However, it said it plans to announce 10 closures in January, and it will provide additional details about those locations in the near future.

  • Macy’s said Thursday it is reconsidering when it will close the roughly 60 remaining open stores out of a batch of 125 that were on track to go dark by 2023.

  • However, it said it plans to announce 10 closures in January, and it will provide additional details about those locations in the near future.

  • “Digital performance is stronger in the markets where we have stores,” CFO Adrian Mitchell said.
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RSK: No surprise here. The states that have strict covid lock-downs and procedures such as California, are where it will happen.

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More Investors Eye Grocery-Anchored Shopping Centers for Better Risk-Adjusted Returns

As pricing continues to rise for industrial and multifamily assets, grocery-anchored shopping centers are looking more and more attractive.

When Kroger-anchored Crossroads South hit the market earlier this year, Matt Annibale, senior director of acquisitions with First National Realty Partners (FNRP), jumped at the chance to acquire the 201,404-sq.-ft. shopping center located about 16 miles south of downtown Atlanta.

At 92 percent occupancy, Crossroads South generated more than a dozen offers, according to Annibale. FNRP, a Red Bank, N.J.-based real estate investment firm, went through multiple rounds of bidding before coming out on top, closing the deal in mid-November for $16.2 million.



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RSK: Even in a pandemic, people need to buy groceries.

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building for lease THE BOULEVARD 3318 University Ave, Madison, WI

Turn-Key Kitchen

Ancora Cafe + Bakery has outgrown their space! This is an ideal turn-key opportunity in the highly desirable Hilldale area. Close proximity to downtown Madison, the beltline or Middleton. Space is available as of May 1, 2021. Enjoy a beautiful build-out, outdoor patio area and parking at your door. FF&E is available for sale. Near solid retailers such as Whole Foods, Penzey`s Spices, Great Clips, University Hills Dental, The Joint Chiropractic, AT&T and more. Terrific visibility with 54,650 VPD. Hurry, as this space will lease quickly!
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Commercial Brokers Group
CBG Annual Holiday Party with CCIM Wisconsin
Date: Thursday, December 2nd, 2021
Time: 4:00 PM


Save the date for our annual Holiday Cocktail Party & meeting with hors d`oeuvres and alcoholic refreshments at the Palette Bar & Grill, 901 East Washington Avenue, Madison. This year, we are co-hosting with CCIM Wisconsin. We hope you can join us during the early evening of Tuesday, December 2, 2021 (exact time to be determined). 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.

Location: Palette Bar & Grill, 901 East Washington Avenue, Madison, WI 53703


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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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2 S. Carroll Street

building for lease

Prominent corner on the Capitol Square available for Lease. Bring your concept or create intrigue with a Bond-like theme incorporating the vault/safe into the space design. Western sun exposure for carefree afternoon and evening venues. Use of the lower level is negotiable. It exhibits rounded walls, restrooms and separate sink area and coatroom. Ideal location for a niche retailer that would complement Fromagination, Square Wine, Rare Steakhouse and others. Convenient access to the beltline for travel to Milwaukee and Chicago.
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building for lease NEW DEVELOPMENT 5955 McKee Rd, Fitchburg
Drive-Thru opportunity (6 stack), dual Signage opportunities, strong demographics and flexibility. Build-to-Suit with In/Outdoor Patio Space. Easy access to Verona, Hwy. 12-18 and downtown Madison. Over 40,000 VPD with a 10:1000 Parking Ratio. Strong Retail Mix with Barriques, Burn Bootcamp, Subway, Star Nails, HyVee, Target and more. Meticulous property. Construction planned for Fall/Winter 2020...
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Cutting hours alone will not help companies achieve a 4-day work week, says the leader of a pilot in the US and Ireland
People have been arguing for the implementation of a four-day work week in various forms since the Great Depression — but the momentum over the last few months has been "incredible," according to Joe O`Connor, global pilot programme manager for the Four Day Week global campaign.
  • The number of companies and governments trialing the four-day week is growing.

  • But misconceptions remain, said Joe O`Connor, the coordinator of pilots in Ireland and the US.

  • Cutting hours alone will not automatically improve productivity he said.
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RSK: Maybe we need to stop counting hours and just go with productivity?

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building for lease 2960 Triverton Pike Dr Fitchburg, WI

Centrally Located

Perfectly located off of Fish Hatchery for access to downtown Madison or Hwy. 12/18 to Middleton or Milwaukee/Chicago. The property includes two office spaces. SUITE 202 - Available Now has 850 SF with 3 offices, reception area and open breakroom. SUITE 205 -- Available Fall 2022 has 2500 SF with 7 offices, conference room, breakroom, and reception area. Strong Tenancy with Noodles, Starbucks, Walgreens, The UPS Store, The Great Dane or Pick N` Save and various alternatives. Enjoy the best of both worlds--over 20,000 VPD with the backdrop of mature tree lines and multiple bike paths as Fitchburg is designated a Bicycle Friendly Community by the League of American Cyclists.

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The Worst of Both Worlds: Zooming From the Office
Work life for many is in a mushy middle ground, and what’s at stake isn’t just who is getting talked over in meetings. It’s whether flexibility is sustainable, even with all the benefits it confers....
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RSK: It seems, wherever humans are involved there is jealousy and strife. Those that rise above it will be the ones to succeed.

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The trucker shortage is fueled by a misconception that the job is only for low-skilled people, who endure poor working conditions, says expert

A false perception of truck drivers` experiences and working conditions is fueling the ongoing truck-driver shortage, according to an expert.

Tra Williams, CEO of FleetForce, a Florida-based truck-driving school, told Insider: "The problem is the perception that trucking is for people of low skill, low education, who are OK with low wages. All three are factually incorrect."

In the US, there is a shortage of around 80,000 truck drivers, Chris Spear, president and CEO of the American Trucking Associations, recently told CNN.
  • A trucking expert offered his perspective on the nationwide shortage of truck drivers.

  • FleetForce`s CEO Tra Williams said it`s untrue that drivers are always low paid and poorly treated.

  • According to Williams, this is a flawed narrative, and it`s fueling the shortage.
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RSK: That, in and of itself, makes for a shortage. Will take a few years to come out of this.

Ken Notes: We need to rethink transit in the US. We need a passenger freight rail system that runs on a schedule so we can get large items anywhere in the US in 24 hours. We recognized this in 2000 when I served on Tommy`s Rail Commission...

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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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Ski resorts counting on a return to normal on the slopes
JAY, Vt. (AP) — After a winter with mask mandates and restrictions on the number of people on lifts, ski resorts are expecting the upcoming season to be more like the pre-pandemic days on the slopes.

Any virus-related protocols at resorts will vary depending on where they are and the local health rules in place. Some resorts are requiring masks indoors and at restaurants, others may continue to limit the number of skiers on the slopes for a better experience and some will require people to show proof of vaccination at certain venues.

“What’s new is a lot more optimism,” said J.J. Toland, a spokesperson for Jay Peak Resort in Vermont....


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RSK: Not only was and is the pandemic a problem, hiring workers was also a variable. Of course, mother nature is always a primary concern. But ski resorts give a boost to local economies as does snow mobilers in Wisconsin.

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Your Guide to Virtual Fitting Rooms
Everything you need to know about the tech that allows shoppers to try stuff on at home.

Ah, online shopping—the great, frictionless experience that has evolved to allow shoppers to tap a button or two and summon new stuff to their home in a matter of days (or...even hours).

As the internet has grown more ubiquitous and sophisticated, the popularity of at-home on-screen shopping has also risen steadily. And while the death of brick-and-mortar sales has been more overhyped than a Supreme drop, our pandemic-mired era has, without a doubt, accelerated the global embrace of online shopping....
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RSK: Well, being a Boomer I have my doubts about a virtual fitting room, but that doesn`t mean I do not by clothes online.

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building for lease VILLAGE CROSSING - OFFICE 114 E Main St, Waunakee, WI

Amenities Galore!

Charming property with abundant sunlight, exposed brick, and warm atmosphere. Lease an office you are eager to get to each day! The space includes a Reception area, 3 Offices (each has a window(s), Streamlined Kitchenette, Conference room, and parking. Enjoy lunch or dinner at Lone Girl, a service at Ecco Salon or shop for the Holidays at Red Barn. Across the street are complimentary services such as Indulgence Nail Garden, the upcoming Evie & Co. Boutique, Edward Jones and more. Over 17,100 VPD and near Veridian`s new Heritage Hills development.

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What The Newest Department Store Partnerships Mean For Physical Retail Strategies
Strolling through today`s department stores, one may notice a montage of digital brands that were thought to only exist online or, at the most, in their direct-to-consumer stores. Yet, somehow, these older department stores are attracting young brands. For example, walk into a Nordstrom JWN +0.9% and find an Indochino shop similar in design and service to the brand`s standalone stores. Then, wander down the hall, take a test-drive of Casper`s latest mattresses, see what the Tonal exercise machine is all about, and try on some 11 Honoré or Asos clothing. The list goes on....
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RSK: Besides giving them a physical presence in many stores without having the hassle of their own real estate, the more exposure the better...

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building for lease Anytime Fitness Center 6000 Monona Dr, Monona, WI

Prime Retail Space available


Join Anytime Fitness, Shopko Optical, Subway, and US Nails in this highly visible 1st floor retail space. Open floor plan awaiting your design.

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building for lease McKenzie Place Mixed-Use Development 2221 Sherman Ave, Madison, W

ENJOY OUTSIDE with TWO PATIOS!

Stunning Newer 3-Story Mixed-Use property at the doorway to Maple Bluff! The property has three spaces available. Fantastic Endcap (3126 SF) with abundant sunlight, beautiful glass walls for maximum visibility and dual signage. Enjoy not one but two adjoining Patios! One section is covered facing McBride Park while the other patio section is open and located at the flatiron. Avoid inclement weather with covered parking next to the space and additional availability in the parking lot. Utilize the chase for convenient kitchen build-out. Bring your own GC or ownership can build-out for you! A generous TI Package applies. Further Amenities for Tenants/Employees include: a Rooftop Terrace, Community Room, and Underground Parking. Inline space (516 SF) is great for a Retail or Office use. The property is professionally managed and manicured with over 70 potential customers built-in and approx. 14,490 VPD...
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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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Is the American shopping mall really dead?
What factors positively influence mall performance and survival?

Commercial Location Score components play a significant factor During the second half of the 20th century, malls became a centerpiece for shopping and entertainment. But starting  in the 21st century, e-commerce began to erode brick-and-mortar retail.

What does this mean for the future of the mall?

Is the American shopping mall really dead?
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RSK: Great little graphic...the malls are morphing into a combination of many things more like becoming it`s own neighborhood.

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The new industrial revolution: Automation and the revitalization of supply chains
As a result of growing e-commerce sales, the amount of goods transported through industrial facilities across the country has increased significantly. To capitalize on this growth and remain competitive, companies are modernizing their warehouses to increase operating efficiency and shorten delivery times. Furthermore, many industrial users are looking to automation as a tool to increase efficiency, promote warehouse employee safety and address rising labor costs due to the scarcity of warehouse workers across the country.


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RSK: I think we need to have two separate categories for this article. To me industrial means some form of manufacturing and/or assembling. Warehouse is storage of those goods...kind of a Econ 201 course.

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Fake landlord and deed fraud scams plague Detroit buyers and renters

Cash sales don`t provide safeguards like title searches that mortgage companies insist on when they`re financing a deal...

A glut of repossessed and abandoned houses in Detroit has contributed to a proliferation of “fake landlord” and deed fraud scams that are not only devastating the finances of many would-be renters and buyers but also creating headaches for owners who discover they’ve got tenants they didn’t choose.

Exacerbating the situation, mortgage lenders are cautious about extending credit and home prices are so low that most deals are for cash, putting Detroit residents at greater risk of buying or renting homes from scammers who don’t actually own them....

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RSK: I would like a local attorney or Title Company to chime in on this. Can this actually happen in Dane Co.?

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Is workplace flexibility a trap?

Companies have a long tradition of offering women workplace flexibility, only to then punish them—with fewer promotions or pay raises—for taking advantage of those benefits. Has the pandemic really changed that?

I wrote about this in a piece for Politico magazine this week, and it’s something I’m thinking about a lot. Because as the anecdotes about burn out pile-up and the data about women quitting their jobs roll in, what seemed like a blessing—the ability to work remotely—increasingly feels like a curse....

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RSK: Very interesting view point.

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building for sale Former Pizza Hut 1424 US-51, Stoughton, WI 53589

Former Pizza Hut

Former 4,350 sq. ft. Pizza Hut on a 39,000 sq. ft. lot for sale in Stoughton, WI. Huge visibility in a mature retail neighborhood with easy access off of Hwy 51. Seller to replace a portion of the roof as part of the Pizza Hut de-branding prior to closing. Click here for the property video https://vimeo.com/645897515

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building for lease 2160 Atwood Ave Madison, WI

Description

Former caf space now available at the Cornerstone building located at the controlled intersection of Atwood Avenue and Dunning Street. This first floor retail space features expansive ceilings, abundant natural light, large dining area with 2 private rooms, built in booths and shelving, fire place and a garage door opening onto the street creating an indoor/outdoor feel. No hood currently exists but may be possible to retrofit building to accommodate.
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land for sale 5606 Schroeder Rd Madison, WI

Beltline Frontage Site For Sale

1.58 acres available at Whitney Way and the Beltline Hwy. Site contains two small buildings. In Madison Opportunity Zone #3. Rare opportunity to redevelop site with west Beltline exposure and linkages.
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FoodFight Restaurant Group - WELCOME


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Brew Crossword: Trading Places

Can you solve the puzzle?

Across

1 Scarfs down
5 Lounges around
10 Like some coffee
14 St. Elmo`s ___
15 Double-reed instruments
16 Coke or Pepsi
17 Certain small-business owner
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RSK: This week`s crossword courtesy of 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 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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Brew Crossword: Parade
Across

1 Annual New York City parade sponsor
6 Winnie-the-Pooh`s Hundred ___ Wood
10 Smooth-talking
14 Dot in the ocean
15 Prepare vegetables, perhaps
16 Nary ___
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RSK: This week`s crossword courtesy of the Morning Brew.

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About CirexNews.com
Ralph Kamps
Editor CirexNews
608.345.2880

Ken Harwood
Publisher CirexNews
608.334.2174

Cirex News is emailed weekly to over 2,000 CRE Brokers/Agents and people interested in commercial real estate. It is online at CirexNews.com. All of our articles are archived and searchable. So a search for "opportunity zone" will bring up dozens of articles on the subject.


In our weekly News & Views you can promote your clients properties and your services for just $15 for new listings (If it is put into the Cirex Guide no extra charge) and $25 for a banner ad (also free to Guide advertisers).

call 608-345-2880...
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Brew Crossword: Sunny Day
1
media
5
Wile E. Coyote`s supplier
9
media
14
  1. "Captain Marvel" star Larson
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RSK: This week`s news crossword courtesy of the Morning Brew!

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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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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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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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Johnny Delmonico`s


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


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