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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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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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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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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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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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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ABSTRACT Commercial Real Estate LLC






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

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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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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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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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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: 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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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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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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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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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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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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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 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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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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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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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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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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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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