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Commercial Broker News and Project Notes...

Need a primer on a commercial subject -- try searching CirexNews: Search Here!

To contact Ralph Kamps Please Email:  CirexNews [at] gmail.com    ...more

Cirex News is emailed weekly to over 1,300 CRE Brokers/Agents and people interested in commercial real estate. 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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Flyover country no more: Why millennials are flocking to Rust Belt real estate
Key Points
  • States like Ohio, Michigan and Wisconsin are seeing an influx of younger buyers in search of more affordable living.

  • “It is about having roots and contributing to the revival of a place that needs businesses that create jobs and create value,” an analyst told CNBC.

As real estate prices in major U.S. cities continue to soar, some young buyers and renters have decided to take their business elsewhere. They’re investing in homes in such states as Ohio, Michigan and Wisconsin, experts say, in search of more affordable living and new places to plant down roots...

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RSK: I don`t think this is just limited to Millennial`s.

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E-Commerce, 3PLs Push Industrial CRE’s Dominant Run

Industrial commercial real estate has experienced a great run over the last few years, and its performance didn’t slow down during the first half of 2018.

After all, current macro-economic trends are creating a favorable environment for the entire industry. Consumer sentiment is the highest in 14 years, according to a University of Michigan study. Jobless claims are the lowest in nearly 50 years. And there does not seem to be much industry concern about potential rising interest rates.


On top of that big picture, warehouses and distribution centers are getting an extra push from two rapidly growing industries: e-commerce and third-party logistics companies (3PLs). Ever-expanding consumer demand is pushing the demand for space in these two arenas, and businesses are seeking out several different types of industrial formats for their growth...

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RSK: The new retail is e-commerce plus brick n mortar in two aspects...a physical presence and warehouse distribution centers. Who knew 3PL`s would be the new darling. We all know why...because warehouse distribution can be leased for much less than space in a major Mall.

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Opitz named US Rowing Senior Female Athlete of the Year
MADISON, Wis. – Every year after the World Rowing Championships, Male and Female Athletes of the Year are announced. This year, former Badger and Middleton native Vicky Opitz was selected by the US athletes and coaches who competed at the 2018 World Rowing Championships as Female Athlete of the Year.

Opitz is the third Badger to receive this award and will add her name next to Mandi Kowal who won it in 1987 and Carol Feeney in 1992.

"I feel incredibly honored," said Opitz to USRowing. "There were so many well-deserving female athletes on the team this year. I feel very honored to be selected among all of these amazing candidates. The team was awesome this year and I`m just happy to have been a part of it."...   ...more

RSK: Kudo`s out to the Opitz family on Vicky receiving this high honor. The Apple doesn`t fall far from the tree, does it? I think K.C. will be buying at the next event.

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CBG NOTES: events...
CBG Annual Holiday Party & Meeting
Date: Wednesday, December 12th, 2018
Time: 04:00 PM

Event Details:
Save the date for our annual Holiday Cocktail Party & meeting with hors d`oeuvres and alcoholic refreshments. More details to follow. We hope you can join us from 4 p.m. to 7:00 p.m. on Wednesday, December 12. This is one of the most well attended events of the year for CBG members, affiliates, and their guests. We`ll have a short meeting and then it will be time to celebrate with your friends and colleagues. Contact Wendy with any questions at 772-0060. ...

Congrats Deal of the year winners...  Presentation Here!

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Older Adults Increasingly Face Housing Affordability Challenges

The overall rates mask significant differences between homeowners and renters. About a quarter of all older adult homeowners are cost burdened, including 12 percent with severe burdens. Older adult homeowners who are still paying off their mortgages face higher rates of burden at 43 percent. Meanwhile, a full 54 percent of older adult renters are cost burdened, with 30 percent experiencing severe cost burden.

As a result of both income and rent changes in older age, severe housing cost burdens are more common among those in the oldest age group. While older adults generally have lower incomes than those of working age, incomes also continue to decline with age. According to data in the American Community Survey (ACS), while the median income in 2016 for homeowners aged 65-79 was $53,400, it was only $35,000 for those aged 80 and over. However, monthly housing costs for older homeowners also fell with age in 2016, decreasing from $726 for those 65-79 to $509 for those 80 and over, likely due to the higher rates of older owners who have paid off their mortgages. In contrast, renters tend to see their cost rise as they age. The median income for renters aged 65-79 was $23,600 in 2016, falling to $21,500 for those age 80 and over. Renters age 80 and over had median rents of $850, paying $50 more each month than those aged 65-79...

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RSK: As humanity seems to extend the length of living, this will become a serious problem in less than a decade.

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Ken Note on CirexNews Search Feature...
CirexNews is most likely a far more powerful tool than you realize. This week for example there are several articles on the Opportunity Zone legislation.

The problem is that you may need these articles weeks, months, or even years from now.

Problem solved! You can search all the articles in our archive anytime and find articles from way back when.

Examples:
The search link is always in the header story of CirexNews...

Pretty cool eh? Let Ralph know I an underpaid and overworked.

Thanks Ken...


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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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FYI: Artis Is Moving!!
Effective Thursday, October 18th, 2018 their new address is:

8215 Greenway Blvd., Ste. 160
Middleton, WI 53562
608-830-6300

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Building For Sale: Paoli Creamery -- 6858 Paoli Rd

7.5 Acres on the Sugar River in Paoli, this 10 unit mixed-use commercial/residential bldg has 10 unique, large units many with high vaulted ceilings overlooking the Sugar River. No one unit is alike. 7.5 acres, makes room for additional units or building, C1 zoning allows many uses. Real Estate only for sale. Building is fully leased. 48-hour notice for showings 10-12 on Tues & Thurs. Proof of funds availability needed...

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Ken Notes: Now this is a destination property!

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Gables COO: `This Is What People Care About,` And It`s Not Amenities

When it comes to multifamily, whether baby boomer or millennial, top-of-market or affordable-only renters, they all crave the same major amenity: connectivity.

“Connectivity is really the main thing you need to be thinking about in the next generation of our products,” Gables Residential Chief Operating Officer Cris Sullivan said during Bisnow`s Multifamily Annual Conference Southeast last week. “When people come into leasing offices, what [do] they care most about? They`re walking around with their cellphones to see if they get a signal.”...

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RSK: This is also true in commercial buildings as well. We lost a client because of low cell phone coverage for his provider and they were not about to switch providers either.

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Building For Lease: StartingBlock 821 E Washington Ave Madison WI

StartingBlock is an entrepreneurial hub connecting the startup community with investors, advisors, and community members to share ideas and create next generation businesses. This dynamic work environment has multiple anchor tenant suites available on the 4th floor ideal for innovative and growing companies seeking high end work spaces, exceptional amenities, and flexible lease terms...

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Commercial Real Estate Outlook
Download (PDF 2.02 MB)

NAR`s latest Commercial Real Estate Outlook offers overall projections for four major commercial sectors and analyzes quarterly data in the office, industrial, retail and multifamily markets.

Highlights:

  • NAR forecasts economic output to expand at a stronger pace of 3.0 percent in 2018.
  • With economic output and employment trends continuing on an expansionary path, commercial fundamentals are expected to exhibit solid demand and increasing cash flows.
  • Vacancy rates will likely provide mixed results, with multifamily undergoing growing availability from an expanding supply pipeline.
  • Office and retail properties will likely see vacancies move sideways, while industrial spaces will find rent growth advancing at a steady pace.
  • For commercial investments, the trends have already shown in pricing. Cap rates seem to have found a floor, and for some property types, have already begun to turn upward.
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RSK: I believe this outlook will hold true in our market as well for most sectors.

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Masters-hall Appraisal

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Opportunity Zones May Spur Economic Growth Through Investor Tax Incentives

The Tax Cuts and Jobs Act of 2017 (TCJA) includes a new tax incentive designed to steer long-term capital investments into economically distressed communities. Investments in these areas, called Opportunity Zones, are eligible for the temporary deferral and potential exclusion of capital gains.

Tax benefits of investing in an Opportunity Zone

The TCJA authorizes each state to nominate up to 25 percent of its low-income communities as qualified Opportunity Zones. The final list of designated census tracts was released by the U.S. Department of Treasury on June 14, 2018.

Temporary deferral of gain...

Permanent exclusion of gain...

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RSK: Thanks to my partner Jim Anderson for the heads up on this none. Many of you have asked about OPZ`s and this is a great outline for it and how it works tax wise.

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Convene Launches New Product To Design, Build Flexible Workspaces For Class-A Office Landlords

Convene, a workplace solutions provider, is branching out from its traditional model to meet the growing demand of office owners looking for flexible workspaces while maintaining their company brands.

Convene CEO and co-founder Ryan Simonetti told Bisnow that the company is launching a new turnkey solution Monday for Class-A office landlords and building owners that allows Convene to help them design, build and/or manage flexible work and amenity spaces...

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RSK: Would be interesting to see someone come up with a plan for existing office space and how to rehab it into flexible space.

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Why It Pays To Have ‘Well-Connected’ Lighting In Your Building

Lighting can do more than brighten your day. As more building owners have come to realize, it can also provide insight into how to run properties more efficiently, and attract tenants by giving them control over their environment.

The Internet of Things has made data on how people interact with spaces more readily available. Smart outlets in an office, for example, can inform office property managers about how much electricity a tenant is using during peak work periods, and when to reduce consumption. Smart windows, which adjust their tint based on the intensity of light and temperature, improve tenant comfort and reduce energy costs to heat or cool a building...   ...more

RSK: How ironic for us. Just had a tenant ask about this very topic.

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An Increasing Number of New Real Estate Funds Target Opportunity Zones

The Opportunity Zone legislation has already unleashed considerable activity, with real estate companies starting to establish new funds.

The basic premise behind the Opportunity Zones initiative was to offer incentives in the form of deferred and reduced taxes on capital gains to attract private capital for investment in low-income urban, suburban and rural areas of the country. “The simple thought was that if capital was invested in those zones, it would have an appreciable and beneficial effect on those communities,” says John W. Gahan III, an attorney in the real estate department at Sullivan & Worcester in Boston.

What is stirring excitement among both sponsors and investors is that, unlike 1031 tax deferred exchanges, this tax incentive is not just for “like-kind” assets. It allows investors who are selling a variety of assets, such as stocks, art or a business, to reinvest capital gains in Opportunity Zone funds. Some industry estimates put the value of total unrealized gains in the U.S. in the trillions. So, even if a fraction of those dollars finds their way into Opportunity Zone property funds, it has the potential to create a sizable new sector within the real estate investment market....

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RSK: Another look at OPZ`s

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september 2018 - Cirex Digital Version

View Our May Digital Version Online Here

Subscribe to Real Estate CIREX Digest

Subscribe to CIREX to receive our monthly Real Estate Digest in PRINT.

  • 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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Inside The New NoMa Apartment Building Where WhyHotel Is Opening Its First D.C. Pop-Up

The first residents began moving into NoMa`s newest apartment project Friday, and in one month hotel guests will begin staying at the same building.

WhyHotel, a company that converts new apartment units into temporary hotel rooms during a project`s lease-up phase, is opening next month at its first project in the District, Equity Residential`s 100 K...

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RSK: I like this concept and wouldn`t be surprised to see it happen right here in Madison.

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Building For Lease: 1919 S Stoughton Rd Madison WI

Up to 18,800 SF in two story building, has mix of private offices, conference rooms and open space with systems furniture. Additional features include climate controlled IT room, TDS fiber-optic connection, dedicated parking lot for 53 vehicles, back up generator, monument sign structure with exposure to Hwy 51, security system hardware available for tenant use.

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Apartment Rent Growth Accelerates in the Third Quarter of 2018

After a slowdown, apartment rent growth increased to 2.9 percent in the third quarter of 2018.

Apartments rents are on the rise again.

The apartment market’s performance during the third quarter slightly surpassed expectations,” according to Greg Willett, chief economist for RealPage Inc., a provider of property management software and services.

Demand for apartment units softened slightly in recent years, as developers built thousands of new apartments. Now, demand is growing quickly once again, as the number of new households rises quickly and helps fill new units. This improved outlook comes after years of already strong rent growth and low vacancy rates....

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RSK: Not really much of an increase but enough to take care of increased taxes hopefully.

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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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Watch Your Back, WeWork: Landlords Move To Cut Out Middleman, Offer Coworking Themselves

Miami has finally shed its reputation as a place for people to retire. In the past 10 years, the city has seen an influx of people with bachelor’s degrees, and an entrepreneurial ecosystem has been evolving.

The arrival of new-to-market tenants has created an appetite for coworking space as the companies settle in, commercial real estate experts at Bisnow`s Miami State of the Market event last week said...

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RSK: How did I know this was going to happen. Bet you asked yourself the same question.

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Investors Lining Up To Pour Billions Into Opportunity Zones
The federal Opportunity Zones program has drawn interest from investors around the country, and policy experts and fund managers expect a flood of capital to flow into the space as soon as the regulations are finalized.

The program, part of the Tax Cuts and Jobs Act President Donald Trump signed into law in December, gives large tax breaks to investors who place capital gains into funds that invest in opportunity zones, a set of largely low-income areas across the country. Local governments nominated their opportunity zone census tracts in April, and in recent months, several funds have been set up specifically targeting opportunity zones...

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RSK: Didn`t think it would take this long for the big boys to get involved with OPZ`s.

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Features For Fluffy Friends Bring Extra Revenue For Multifamily Developments

Each generation of tenants has different expectations when it comes to multifamily living. The current rule of the thumb is pets reign supreme, TruAmerica Chief Operating Officer Lynn Owen said...

...TruAmerica’s redevelopment projects include pet-related amenities such as pet clubs with indoor fitness centers and pet pamper parlors. Tenants must pay a monthly tuition fee...

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RSK: With more than 50% of households having at least one pet, this is no real surprise. But, it must be well thought out and implemented.

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Building For Lease: Former Savers Building 2002 Zeier Rd Madison WI

This former Savers building (31,810 SF) features 15.4 ft clear height and is 18 ft to deck. The property has 129 parking stalls and offers full access via a signalized intersection adjacent to East Towne Mall (839,608 SF). Area retailers include JC Penney, Sears, Dick`s Sporting Goods, Kohl`s, Gordmans, and Best Buy.

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Five Secrets to Maximizing a Landlord’s Claim in Tenant Bankruptcies
Contrary to popular belief, landlords can use multiple strategies to recover rent from bankrupt tenants.

Landlords often believe that once their tenant files for bankruptcy, there is little that can be done to recover from the tenant. While it is entirely possible that a tenant’s bankruptcy filing could result in a goose egg, active monitoring of the bankruptcy case will maximize recoveries. Below are a few key strategies:   

  1. Monitor your tenant’s financial health prior to a bankruptcy filing
  2. Has the tenant filed a store closing list?
  3. Administrative claims for post-bankruptcy rent
  4. Deadlines, deadlines, deadlines…
  5. Negotiating the lease post-bankruptcy...
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RSK: If you are a landlord or property manager listen up on this one...you can get money after a tenant declares bankruptcy...but my advice would be to hire an attorney to make sure you meet all the petitions and deadlines.

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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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2018 Self-Storage National Report

Rising Demand Temporarily Overshadowed by Construction Swell

Positive economic momentum supporting need for self-storage as supply wave slows rent growth. The economy is exhibiting strong growth in 2018, a boon for self-storage real estate. Consistent job gains are allowing more recent college graduates and other young individuals the financial freedom to move out on their own. Amid rising homeownership costs, many are renting apartments, where limited floorspace creates a heightened need for external storage. Older members of the population are also placing more of their possessions in storage units as they downsize...   ...more

RSK: Once the darling of real estate. Great cash flow but management intensive. Now Industrial and warehouse are the "sweetie pies".

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This Mall Will Have a Spa, Café, Pool and Restaurant - All in a Former Anchor Store
A novel project under construction in a vacant department store is being hailed as the future of the mall.

When it opens next year at Southdale Center in Edina, Minnesota, the three-level, 120,000-square-foot "athletic resort" will feature a full-service rooftop restaurant and beach club, a swimming pool, a healthy cafe, a spa and a salon in space once occupied by a JCPenney’s that anchored the mall. That former retail area will also include coworking space, a children’s academy and exercise rooms.

"It’s a gutsy thing," said Stephen Dombrovski, senior associate at Suntide Commercial Realty in St. Paul, Minnesota. "Things like this are truly the future of retail."...   ...more

RSK: I give them credit for trying this...but sounds like they are trying to be too much. Good luck!

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Retailers tout big hiring plans this holiday season, but workers will be hard to find
Key Points
  • Roughly 23 percent of retailers weren’t able to hire all the temporary workers they wanted for the 2017 holiday season, according to a new report.
  • About two-thirds of retailers are hoping to hire at least as many seasonal workers this year.
  • U.S. unemployment is at a record low of 3.9 percent, and companies are under pressure to raise wages.

Many retailers have already announced plans to hire more seasonal workers this year than in 2017, but not all of those positions will likely be filled.

The labor market is tighter than ever. U.S. unemployment is at a record low of 3.9 percent, and companies are under pressure to raise wages, making it more difficult and expensive to keep talent, according to a new report...

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RSK: The answer will be in higher wages, flexible schedules and ability to stay on part-time after the Holidays. I will go with #1 as the best incentive...

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Land for Sale: West Madison Bible Church Land 2920 N CTH M Verona WI

13 + or - acres. West Madison Bible Church to retain church building as approx. 6 acres adjacent to the building. Full access stop lite intersection into the land to be constructed with current CTH M improvements.

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Advanced Market Analysis for Commercial Real Estate

Advanced Market Analysis for Commercial Real Estate is designed to improve your understanding of timing/location and increase your possibilities for success in today`s market. In this course, you will get hands-on experience with market analysis tools like STDB to identify the best locations for specific types of properties.

Upon completion of this course you will be able to:

  • Use supply and demand data to identify property sectors and geographic submarkets that offer the greatest commercial real estate investment opportunity both now and in coming years
  • Conduct hands-on analyses of your market and submarket using STDB and the latest CCIM Market Analysis software tools.
  • Identify the greatest areas for growth-office, retail, industrial, and multifamily sectors-in your market...
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High Point Office Park


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

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Form Development, Morgan Partners Acquire Single-Tenant Grocery Property in Appleton, Wisconsin

APPLETON, WIS. — Form Development LLC and The Morgan Partners LLC have acquired a 54,000-square-foot, single-tenant grocery store in Appleton for an undisclosed price. The building is fully leased to Pick N’ Save. Wes Koontz, Christian Tremblay and Dan Cohen of Mid-America Real Estate Corp. represented all parties in the sale. The seller was the original developer of the property...

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RSK Kudos.

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U.S. office vacancy rate remains flat in third quarter - Reis

(Reuters) - U.S. office vacancy rate was unchanged at 16.6 percent in the third quarter, according to real estate research firm Reis Inc (REIS.O).

Overall net absorption, measured in terms of available office space sold in the market during a certain time period, dropped to 3.5 million square feet of office space in the third quarter, compared with 5.5 million square feet, a year earlier.

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RSK: Well better than more vacancy coming on. Not sure if this is because some new buildings are being constructed or the absorption rate is just remaining steady.

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Toys R Us may be out, but FAO Schwarz is back in – making a comeback in time for holidays

Just in time for the holidays, storied retailer FAO Schwarz will open a new flagship store in Manhattan – its first freestanding location since it shut its doors three years ago.  

The toy emporium, known for its starring role in the 1988 Tom Hanks movie "Big`` and its often over-the-top merchandise, will set up shop in Rockefeller Plaza, opening its doors on Nov. 16. 

The retailer is re-emerging in time for a holiday season that will be the first in decades without Toys R Us, another store chain that, like FAO Schwarz, specialized in dolls, cars, games and gadgets. And in addition to having its own store, it will be a presence within other retailers over the holidays, including Bloomingdales and Neiman Marcus....
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RSK: Again, FAO one of my favorite all time retailers. Will it work? Not sure but hoping so.

Ken Notes: I have been doing a lot of research for a keynote I am giving on Thursday, and the consensus is successful retailers will need to become more destination driven. I want to go there vs. I need to go there because need is now a click away...

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Toys ‘R’ Us Lenders Plan Brand Revival
Geoffrey the Giraffe may be coming back to life.

The Toys “R” Us Inc. lenders that took control of the retailer during its liquidation -- and have faced criticism for their role in the shutdown -- are now working on resuscitating the brand, according to new court documents.

In a bankruptcy court filing Monday, the funds said they had canceled a plan to auction off the company’s intellectual property. Instead, they are seeking to reorganize the assets into a new company that will maintain the current license agreements and can invest in new retail operating businesses....

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RSK: Sounds like they will not open Big Box stores but will rely on pop-up stores. Not sure how that is going to work but betting there will be a lot of on-line and warehouse/distribution services needed. Good luck to them.

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2018 Event Calendar

OCTOBER 2018

October 18
CARW Sponsor & Thank you

October 24
Deal of the Year & Annual Meeting

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RSK: A list of CARW Events and CE.

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U.S. retail vacancies flat at 10.2 percent in third quarter: Reis

(Reuters) - U.S. retail vacancies remained flat at 10.2 percent in the third quarter, while a number of Sears Holdings Corp (SHLD.O) and Bon-Ton store closures boosted mall vacancy rates, real estate research firm Reis Inc (REIS.O

The mall vacancy rate jumped to 9.1 percent in the third quarter, from 8.3 percent a year earlier. The jump in vacancy does not account for a number of owner-occupied Sears and Bon-Ton stores that also closed.

) said in a report.

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RSK: Nothing new other than it is not as bad as I thought it would be. A lot of re-purposing going on.

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You Are Old Outdated Ignorant Embarrassing And Need To Retire

You Are Old Outdated Ignorant Embarrassing And Ned To Retire.

First off I am not stupid enough to sit here and start ripping on the baby boomers/decision makers of commercial real estate.

Although I am not sure why I am holding back. Nothing has really stopped me from going off before. Uh …. Whatever.

I do see an obviously huge problem that is and will continue to plague commercial real estate for a long time...

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RSK: Yes...ditch the belly putter for sure. Good rant by the Dukester.

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Best Buy is cashing in as Americans grow older
Americans are getting older. That`s an opportunity for Best Buy.

In August, Best Buy announced it would buy GreatCall for $800 million. GreatCall makes Jitterbug cell phones with big buttons and bright screens designed for senior citizens, as well as medical alert devices that can detect falls and summon help.

Best Buy (BBY) may not seem like the first place to find an over-70 crowd. But buying GreatCall allows Best Buy to expand its customer base overnight.

If it can attract an older clientele, Best Buy increases its chances of becoming the go-to store for aging Americans and their caregivers. It can bring them in for Jitterbugs and medical alert gadgets and send them home with TVs and Echoes.

Analysts expect Best Buy to feature GreatCall products prominently at its showrooms, and Geek Squad agents will probably recommend them to customers.

Helping Grandma live independently...

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RSK: Can you say "GrandPad" among other things? It will work...

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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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E-Commerce Driving Demand For Chicago Industrial — And A Wave Of Spec Development

The Chicago industrial market is hotter than ever, fueled by the demand of e-commerce and other logistics providers for new space. That is driving development, including a fair amount of spec.

"We`re seeing the demand for industrial development remain pretty consistent as compared to years past," Morgan/Harbour Executive Vice President and partner Ben Warriner said.

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RSK: ECommerce`s retail outlets are warehouses. Probably a net gain from store closures to warehouse flex space being added.

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Small Business Summit

Please join Governor Scott Walker and Lt. Governor Rebecca Kleefisch for the 8th Annual Small Business Summit at the Ingleside Hotel & Conference Center at 2810 Golf Road, Pewaukee, WI.

Don’t miss this opportunity meet with some of the “movers and shakers” in Wisconsin business today! Hear how great strides in Wisconsin education opportunities are preparing the next generation of workers to be ready for employment in your industry or business. Learn how innovative state programs can assist in taking your business to the next level. Enjoy networking with other small business developers while sampling some great Wisconsin products.

View the Agenda

Registration is $50 per person and is non-refundable. Register online with credit card. No cash or check accepted. Deadline for registration is December 3, 2018...

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RSK: If you can make this I am sure you won`t be disappointed.

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Holiday 2018 Predictions: Mobile Will Ring Up Most Purchases for the First Time Ever

Preparations for this year’s holiday season began taking shape well before kids traded in their books for bathing suits. And now that the dust has settled on back-to-school shopping, retailers can turn their full attention to holiday planning..

1. Holiday shoppers will buy more on mobile than on any other device

2. AI-based product recommendations will drive 35% of revenue

3. Nearly half of all holiday shopping will happen during Cyber Week

4. Instagram will emerge as a significant traffic-driver to retail sites

Will Voice Find its Voice in Holiday 2018?

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RSK: I don`t think all of these are hot items....especially in our SMSA.

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RASCW Events and updates

Annual Membership Meeting 2018

November 15 @ 8:00 am - 10:30 am

Sheraton Madison Hotel - 706 John Nolen Dr

Please join us for our Annual Membership Meeting. You will hear from our RASCW and SCWMLS Presidents as they share their state of the organizations. Our guest speaker is Mike Theo, WRA President and CEO.  Recognition and awards will also take place.  Registration deadline is November 7.

Please see the event flyer for all the details.

Annual Membership Meeting 2018

New Developments for Commercial Brokers 2018 Review

Adam Sayer, Director of Planning and Development, City of Verona
click here for presentation

Michael Zimmerman, Assistant City Administrator/Director of  Community & Economic Development, City of Fitchburg
click here for presentation

Mike Davis, City Administrator, City of Middleton
click here for presentation

Tax Reform, Josh Ganshert, Baker Tilly
click here for presentation

Key Legal and Regulatory Updates, Tom Larson and Cori Lamont, Wisconsin REALTORS® Association
click here for presentation

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RSK: In case you missed the RASCW Commercial Update Seminar a link to the powerpoint presentations is above. Worth the time to go over it

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Gyms Are Expanding and Many are Eyeing Mall Vacancies
The still expanding fitness center segment has been among the few bright spots for retail landlords.

The fitness club sector is flexing its muscles.

Fitness and health clubs have grown to be a more than a $30-billion-a-year industry, according to research site Statista, with more than 36,000 clubs across the U.S. boasting more than 60 million members.

Top players in the health club industry reported steady growth in 2017 and many are expanding through new development or acquisitions. Life Time, LA Fitness, Planet Fitness, 24 Hour Fitness, and Equinox Holdings (with its brands Equinox, SoulCycle, Blink Fitness and Pure Yoga) all had growth years, according to the 2018 Club Industry Top 100 Clubs list...


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RSK: Great concept for malls. I would think owners and brokers would be all over this.

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Building For Sale: Former Globe University Former Globe University 1345 Deming Way Middleton WI

Outstanding opportunity to own an office building at the entrance to the Old Sauk Trails business park. The 31,000 sq. ft. building was built in 2009 and sits on 3.75 acres. 13` clear height ceilings and limited building columns offer lots of flexibility for repurposing the space from a school to an office use...


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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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Re:Store, WeWork for Retail, Will Bring Instagram Brands to Storefronts

Selene Cruz created a popular line of bags designed to organize laptops and chargers, but she found that she couldn’t grow her company to the next stage without moving from online-only to old-fashioned retail.

“It was a natural transition,” Cruz says. “I wanted to get a storefront and my customers were asking for it, but unfortunately in San Francisco it is too expensive for me to even afford physical space on my own.”...

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RSK: Great concept. I wouldn`t be surprised to see this in other sectors such as warehousing.

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CCIM Global Conference 2018 Summary. #CCIMGlobal.

Ah, The City Beautiful that is Chicago.

I just flew back red-eyed to New York after attending the 2018 CCIM Global Conference.

And as I am known for I usually do some sort of personal summary of some of the events I attend.

Why should this be any different? It’s not so let’s get started.

Wait, wait, wait, before I get started I need to give a HUGE shoutout to the team at Reonomy. 

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RSK: Great synopsis by the Dukester....makes you feel like you were there.

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Consumer Confidence Notches Post-Recession High; Another Strong Holiday Season in Reach for Retailers
Consumer Confidence Notches Post-Recession High; Another Strong Holiday Season in Reach for Retailers..

Soaring confidence elevates consumption. Strong consumer spending continued in August, boosting core retail sales 5.9 percent on an annual basis and surpassing the previous four-month average of 5.8 percent. A healthy job market and steadily rising wages remain key drivers of consumer confidence, pushing it to its highest level this cycle. With optimism climbing, consumers are making more discretionary purchases, benefiting electronics and appliances retailers as the sector recorded 4.1 percent annual growth. Prior to the past 12 months, this sector has witnessed sporadic growth, contributing to a negative 10-year average. Clothing retailers also posted strong gains last month, logging a 6.4 percent increase compared with the 10-year average of 2.1 percent. Off-price clothing retailers like Ross and TJ Maxx have headlined the sector’s recent surge in sales...
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RSK: This is good news if it pans out. Always a guestimate in my mind until it is over. Weather is one big variable in the equation.

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FoodFight Restaurant Group - WELCOME

Our roster of restaurants reads like a who`s who of Madison`s favorite eateries: From Monty`s Blue Plate Diner, to The Avenue Bar, to Steenbock`s on Orchard, each is unique in its atmosphere and menu and each is the best at what it does!
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I Rant Because I Can. I Rant Because I Want To. I Rant Because That’s What YOU Want!

Ah, what a time to be alive…or what a time to be alive and watch the shitshow that is life as we know it today. I’m more on the side of not paying any attention to that made up drama that is the shitshow of life and have been hanging on to the phrase lately of “Livin The Dream.” What does that actually mean? Hell if I know but then again why the hell not.

Are we all now too sensitive to anything and everything and all we want is to be affirmed about our beliefs and not to have our minds changed at all? I get that, but the other side wants the same so how will that work? And some of us can’t or won’t have it any other way...

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RSK: Of course...we all like to rant at one time or another.

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Mattress Firm Files For Bankruptcy, To Immediately Shutter 200-Plus Stores

America`s largest mattress retailer has filed for bankruptcy, with plans to close up to 700 stores in the U.S. to save itself from mounting debt and rent obligations.

Mattress Firm filed for Chapter 11 bankruptcy protection in Delaware Friday morning. It will shutter an initial 200 stores across the country within the next few days. Mattress Firm tapped A&G Realty Partners to handle the store closures...

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RSK: Two plus their outlet store in Madison. Some more retail up for lease...

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Amazon Comes Up With Another Way to Get Alexa Into Your Home

(Bloomberg) -- Amazon.com Inc. has shown a boundless desire to put its Alexa smart-home devices in every nook and cranny of people’s houses. Just last week, it announced a raft of new gadgets, including a microwave and clock.

Now it’s making its first bet on a homebuilder.

The Seattle-based Internet giant is investing in a $6.7 million fundraising round for Plant Prefab, a California company that manufactures modules that can be assembled quickly into a home at a job site. The wager is being made through the Alexa Fund, a pool of capital Amazon created in 2015 to back startups working on new uses for voice technology...

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RSK: Great concept, hope it works out. I can see us Boomers eventually downsizing into something like this...but I would need a basement for storage lol.

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Crown Commercial Real Estate/Development, LLC

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

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Smart Checkout Tech At Retail Projected To Hit $45B

Amazon and other retailers have been converting the model of how shoppers get out of stores by using various payment methods, all intended to bypass cashiers and checkout lines.

Now there’s some research indicating that this transition will be significant.

Smart checkouts will process more than $45 billion in retail transactions in 2023, according to Juniper Research. That will be up from about $253 million this year, for an annual growth rate of 182%...

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RSK: Very interesting stuff...wonder how long it will take to catch on but for grocery stores would be a hit.

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Building For Lease: 2014 S Stoughton Rd

Also for Sale!! Perfect for owner occupant with added income from existing tenants! Neighboring Tenants Include: Kitchen Ideas Center, Walgenmeyer’s Carpet and Tile, Sherwin Williams, My Escape Mission, Brother’s Main Appliance. Mounds Pet Food Warehouse, Clausen Automotive, A1 Furniture & Mattress, Blain’s Farm & Fleet and many more!...


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Hedge Fund Billionaire Rode the Worst Trade of His Life All the Way Down

(Bloomberg) -- Bit by bit, the smart money deserted Edward Lampert.

Michael Dell, David Geffen, George Soros, the Ziff brothers -- by 2012, all of them, and many more, had peeled away.

Not even Lampert’s friends could understand why the hedge-fund manager, once hailed as a young Warren Buffett, clung to his spectacularly bad investment in Sears, a dying department store chain...

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RSK: Why Sears has failed.

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Building For Lease: 422 Gammon Place

Very nice end-cap space available. Formerly Freshii. Modern interior and finishes. Small patio area as well. Great visibility and traffic counts. Restaurant equipment might be available...

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Thanks you for sponsoring CIREX and Cirexnews.com
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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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Evans Properties, LLC.

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Professional Real Estate Management and Sales

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Newmark Grubb Gialamas

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

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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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Wisconsin Commercial Real Estate

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

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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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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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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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