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This Weeks Articles...

  1. Madison city officials plan West Towne Mall future
  2. Apple employees push back against returning to the office in internal letter
  3. Real estate industry confidence skyrockets as commercial deals rebound
  4. As home prices soar in unlikely places, the most vulnerable residents pay the price
  5. Homeowners got $2 trillion richer during the first three months of the year
  6. A Jersey Mike`s shop opening in California is offering a hiring bonus of up to $10,000, as fast food chains struggle to bring back workers
  7. building for lease 4915 Monona Dr Monona, WI 53716
  8. Understanding the Operating Expenses in Your Office Lease
  9. Investors Fret as Biden Takes Aim at a 100-Year-Old Tax Loophole
  10. Construction’s Labor Quandary Is An Old Problem With New Complications
  11. New Sublease Office Space in Manhattan Has Begun to Decline in June
  12. Amazon office employees can work remotely 2 days per week — and spend 4 weeks each year working from anywhere in their home country
  13. Staying nimble: Chipotle prepares for expansion with multiple formats
  14. IBM tells U.S. employees they will return to the office in September
  15. building for lease NEW DEVELOPMENT 5955 McKee Rd, Fitchburg
  16. Madison Capital, known for big box conversions, in Sun Belt venture
  17. Brew Crossword: Whodunit
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Cirex News is emailed weekly to over 2,000 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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Madison city officials plan West Towne Mall future
MADISON, Wis. (WMTV) -Madison officials are making plans to give the West Towne Mall area a facelift.

The redevelopment is a part of a bigger goal, which is the Odana Area Plan.

This plan will be formally introduced to the Madison common council at the beginning of July. The city hopes to have a solid answer regarding the decision from the council by September.

A plan to revamp and restructure West Towne Mall is acting as a small piece to a bigger puzzle...
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RSK: A bit more information on what may become of West Town Mall redevelopment.....obviously another park.

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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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Apple employees push back against returning to the office in internal letter
Apple employees are pushing back against a new policy that would require them to return to the office three days a week starting in early September. Staff members say they want a flexible approach where those who want to work remote can do so, according to an internal letter obtained by The Verge.

“We would like to take the opportunity to communicate a growing concern among our colleagues,” the letter says. “That Apple’s remote/location-flexible work policy, and the communication around it, have already forced some of our colleagues to quit. Without the inclusivity that flexibility brings, many of us feel we have to choose between either a combination of our families, our well-being, and being empowered to do our best work, or being a part of Apple.”...
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RSK: You knew this might happen. Employees flex their muscles. I guess the old work ethic has started to die out. Once school begins I would think many could return a few times per week. Like anything, give someone a taste of something good and they will want more.

Ken Notes: I would be very careful here companies are always looking for an excuse to "downsize" or restructure and a policy for onsite employment may give them the excuse they need.

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Real estate industry confidence skyrockets as commercial deals rebound
It was the worst of times, but now the industry is hoping for the best of times.

After an upside-down year of stalled investments, renegotiations of office leases, low residential rent collections and mixed results for retail (grocery and convenience stores thrived, while mom-and-pop shops and restaurants went belly up), the real estate industry is focused on making commercial spaces inviting for employees and customers.

“The operative word is ‘optimism,’ ” said James Whelan, president of the Real Estate Board of New York (REBNY). “There is a real sense that things are heading in the right direction.”
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RSK: If it is happening in NYC it is happening here as well. Commercial property is a hot commodity on the for sale side as well as leasing.

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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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As home prices soar in unlikely places, the most vulnerable residents pay the price
KINGSTON, N.Y. — Inside a Victorian house flecked with chipping white paint, 65 group home residents must suddenly find a new place to live, an unintended consequence of a Federal Reserve policy meant to save an economy in crisis.

The group home —refuge for people with mental illness, disabilities and substance dependence — is closing after its owners agreed to sell the property this spring. Now, Mary Chisholm, who runs the home, is struggling to relocate the most vulnerable. It’s particularly challenging because the area is unexpectedly experiencing the second-fastest growth in housing prices in the nation....


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RSK: Yes the housing market is in turmoil but really just comes down to supply and demand especially with low-interest rates.

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Homeowners got $2 trillion richer during the first three months of the year
Homeowners are getting richer and richer as prices keep soaring – and the numbers are staggering.

Those with mortgages — about 62% of all properties — saw their equity jump by 20% in the first quarter from a year earlier, according to CoreLogic. This represents a collective cash gain of close to $2 trillion. Per borrower, the average gain was $33,400.

Key Points
  • Homeowners with mortgages saw their equity jump by 20% in the first quarter from a year earlier.

  • This represents a collective cash gain of close to $2 trillion. Per borrower, the average gain was $33,400.

  • Record-low mortgage rates for much of last year only added to the buying frenzy and helped fuel the price gains.
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RSK: Mark up means nothing until it sells...usually means your assessments will go up which means higher taxes.

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ABSTRACT Commercial Real Estate LLC






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

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A Jersey Mike`s shop opening in California is offering a hiring bonus of up to $10,000, as fast food chains struggle to bring back workers

As fast food chains struggle to find workers, one sandwich shop is offering new hires up to $10,000.

A Jersey Mike`s in Santa Cruz, California told Fox Business it will pay a $10,000 incentive for a new assistant manager. The payment will be made in three installments during the manager`s first year at the shop.

The chain told the network that it has already received several qualified applications for the position that will pay $18 to $20 per hour.

  • The Santa Cruz Jersey Mike`s is offering a hiring bonus of $10,000 for its assistant manager role.

  • The owner said the sandwich shop is working to adapt and find new ways to draw in workers.

  • It is one of many companies that has implemented new incentives to combat the labor shortage.
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RSK: My question is what do those loyal employees that stayed on, stuck out the hard time, and worked through it all receive?

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building for lease 4915 Monona Dr Monona, WI 53716
1450 sf in the Monona Executive Bldg newly remodeled. Large space with private office and kitchenette. Across from Monona Golf Course...
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Understanding the Operating Expenses in Your Office Lease
A few weeks ago, I wrote about the different types of commercial leases that are out there. It is important to understand them so that you know what other expenses you are on the hook for besides rent. These expenses are called Operating Expenses and a Landlord will do their best to budget for these expenses each year. For some expenses like taxes and insurance, it is not too difficult to determine the budget. However, there is another portion of Operating Expenses referred to as Common Area Maintenance (CAM) expenses. This expense can be a little more difficult to budget, as it will include repairs, maintenance and the operation of any common or shared areas in your building. This can include shared lobbies, hallways, bathrooms, elevators, parking areas and landscaping.  Since these types of expenses can vary from year to year, usually a reconciliation happens at the end of each year where a Tenant will either receive a bill for any overages in these expenses or a credit towards the next year if the expenses were less than budget...
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RSK: A more in-depth of what CAM charges can entail...even if you have a full gross lease...

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JUNE 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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building for lease Sunnyside Shops 3904 E Washington Ave, Madison
2,335 sq.ft. space available at the stoplight corner of East Washington Ave. and Lien Rd. Other tenants include: AT&T, FedEx and Men`s Wearhouse.
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Investors Fret as Biden Takes Aim at a 100-Year-Old Tax Loophole
Michael Clarke, a real estate investor, was able to defer taxes on his gains under Section 1031, a provision of the tax code that allows so-called like-kind exchanges.

The administration wants to rein in a tax deferral on gains from the sale of real estate. Opponents worry that the move would stifle investment.
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RSK: Another way to look at the value of the 1031 Exchanges....it is not just for the 1%. Many taxes and jobs flow back to the economy on an exchange, not just capital gains being withheld...

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Construction’s Labor Quandary Is An Old Problem With New Complications
David Meade has spent five years as executive director of Building Skills New York, a nonprofit that has helped link hundreds of job seekers with entry-level positions in construction. It’s a rewarding job placing workers into positions that may jump-start a career shift, but this year, it’s required employers to be much quicker to respond.

“We’ll get individuals lined up for an interview, and if the firm looking to hire them takes an extra minute, entry-level applicants are on to the next job,” he said.
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RSK: It is the perfect storm isn`t it.

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Commercial Brokers Group
Member Meeting & CE-1 Wisconsin Listing Contracts

Date: Wednesday, June 9th, 2021

Time: 7:15 AM

Event Details:

We are planning on offering this breakfast meeting and CE-1 on Wednesday, June 9, 2021 (COVID regulations permitting). The breakfast meeting schedule is:
• 7:15 a.m. - 8:00 a.m. breakfast & networking
•8:00 a.m. - 8:50 a.m. Meeting
•9:00 - noon CE-1 Wisconsin Listing Contracts
From 9:00 a.m. - 12:00 p.m., CBG is offering CE. This continuing education class will be taught by Reinhart Boerner & Van Deuren, s.c. This approved course will count towards the credits needed for Wisconsin licensee renewal.

If you have any questions, please contact Wendy Sullivan at 608/772-0060 or wendy@advantageosborne.com.

Location: TBD

24th Commercial Brokers Group Golf Outing
Date: Tuesday, September 14th, 2021

Other Events Still on hold - wendy@advantageosborne.com...

2019 Deal of the Year Presentation

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

2018 DOY Presentation with Photos is Here!



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New Sublease Office Space in Manhattan Has Begun to Decline in June
According to global property consultant CBRE, the amount of sublease space in Manhattan ballooned during the Covid-19 pandemic, as tenants looked to cut costs by shedding space they thought they would not need. Since the beginning of 2020, 19.3 million sq. ft. of gross sublease space has been added to the Manhattan office market, and sublease space now accounts 26% of all available space as of June 1, 2021. The Great Financial Crisis saw an even more dramatic increase in sublease space, with 23.7 million sq. ft. of gross space added in 2008-2009, accounting for 31% of all available space in the market at that time.


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RSK: I believe this is true in most places in the US. Now if Companies can get the employees back to work is another cog in the wheel.

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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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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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Amazon office employees can work remotely 2 days per week — and spend 4 weeks each year working from anywhere in their home country
Amazon is softening its earlier stance on having an "office-centric culture" by the fall.

Corporate and tech employees worldwide will be allowed to work remotely for two days per week, the company said in a memo sent on Thursday, viewed by Insider.
  • Amazon corporate and tech workers worldwide won`t have to return to the office full-time.

  • Employees will be able to work remotely 2 days per week, the company said in a memo.

  • They can also spend 4 weeks each year working from another location anywhere in their home country.
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RSK: There will be many different Hybrid back-to-work models I am sure.

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Staying nimble: Chipotle prepares for expansion with multiple formats

Development chief Tabassum Zalotrawala shares insights into the fast-casual chain’s plans for growth

Perhaps more than anything else, restaurants of the future will be need to be flexible in format to serve guests with varying needs.

That’s according to Chipotle Mexican Grill’s Chief of Development Tabassum Zalotrawala, who shared her insights during a session on “Inside Chipotle’s Recipe for Growth,” part of the ongoing Nation’s Restaurant News digital series CREATE: The Future of Foodservice.

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RSK: They are on the right track...stay flexible, serve good quality food at a fair price and keep morphing.

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CARW 2020 Events and Resources
9-holes of casual golf
6 foursomes per evening
sign up for one or all dates
drinks & dinner

CARW Members Only – Register as a single or as a foursome. If you have specific request for partners, please list them during registration.

Cost: $50 (inclusive of 9-holes, food & drink)

  • June 15th – Morningstar Golf Club – Tee times start at 5:10
  • June 29th – Mee-Kwon Park Golf Course – Tee times start at 5:30
  • July 13th – Wanaki Golf Course – Tee times start at 4:00
  • July 27th – Morningstar Golf Club – Tee times start at 5:10
  • August 3rd – Mee-Kwon Park Golf Course – Tee times start at 5:30
  • August 24th – Wanaki Park Golf Course – Tee times start at 4:00

*times vary by location

Register HERE: https://www.eventbrite.com/e/carw-golf-league-2021-tickets-147790040991

Organizer CARW

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

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

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IBM tells U.S. employees they will return to the office in September
IBM’s U.S. employees will go back to the office the week of Sept. 7, according to a memo sent to staff this week from Chief Human Resources Officer Nickle LaMoreaux.

In the memo, which was viewed by CNBC, LaMoreaux said IBM is working on protocols for fully vaccinated employees to work in the office without masks. In addition, LaMoreaux said IBM is working on health and safety protocols for business travel and meetings with clients from outside the company.

Key Points

  • IBM told U.S. employees this week that they will be able to return to the office the week of Sept. 7.

  • Fully vaccinated employees will be able to work in the office without a mask.

  • The company did not say whether or not employees would be allowed to continue to work from home after Sept. 7, but did say it would promote a good work-life balance.
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RSK: I see pay bonuses coming soon for those who return to 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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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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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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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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Madison Capital, known for big box conversions, in Sun Belt venture
Madison Capital, real estate investor known for turning box retail into multifamily and self-storage properties, in new Sun Belt venture.
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RSK: Wonder if they will be involved with the redevelopment of East & West Towne Malls here in Madison.

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FoodFight Restaurant Group - WELCOME


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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...   ...Full Story Here

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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: Whodunit
Across

1 David, for presidents
5 MBA hurdle
9 Seasoned rice dish
14 Sneaker brand
15 Izzy Azalea song that samples "Mambo Italiano"
16 Cherish
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RSK: This week`s crossword courtesy of the Morning Brew.

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

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

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

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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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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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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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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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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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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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