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This Weeks Articles...

`Nothing short of bizarre`: New dispute emerges between Madison and Judge Doyle developer
These haunting photos reveal the retail apocalypse ripping through America
Tax Code Updates Mean Cost Segregation Studies Are More Important Than Ever
With Rising Demand From Boomers, Senior Housing Developers Shift To More Urban Projects
Investors Betting Big On Life Science Properties, Even As Cap Rates Compress
5G & the History of Wireless Networks
Building For Lease: 2101 W Broadway Monona WI
From Drumming With Prince And Beyoncé To Building With Shipping Containers: Queen Cora Constructs Hurricane-Resistant Projects
Real Estate Developers Are Now Designing With Instagram in Mind
Walmart and Kroger are rethinking stores as the online grocery battle intensifies
Commercial Real Estate Execs Arrested In Massive Bribery Scheme To Get Kids Admitted To Elite Universities
Land for Sale: 2101 W Broadway Monona WI
How these 33-year-olds are taking Sweetgreen from a dorm room start-up to the ‘Starbucks of salad’
How to Avoid the Next Real Estate Downturn
Building For Lease: 1 QBE Way Sun Prairie WI
A First Step: Senators Introduce Bill To Fix Costly Depreciation Mistake In GOP Tax Law
Building For Lease: OM Station 910 Mayer Ave Madison WI

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`Nothing short of bizarre`: New dispute emerges between Madison and Judge Doyle developer

After reaching a deal with Madison in January to return development rights for half of the two-block Judge Doyle Square project to the city, records obtained Monday show Beitler Real Estate notified the city over a month later that it was “impossible” to complete its portion of the project.

On Feb. 15, Beitler Real Estate sent the city a notice of default through its attorney. In it, Beitler claimed that the way the city zoned the block that currently holds the Government East parking garage is preventing construction of a private hotel and apartment complex there from moving forward.

See Also:

New spat over Judge Doyle Square threatens hotel, apartments

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Ken Notes: I would like to hear from George Austin and the developers who would have a real understanding of the issues here and I can wait until after the meeting because speculation only make things worse. I get very nervous when the lawyers step up to the mic and in this case the two representing the city do not seem to agree.

Funding may be a real issue because in development time is money and a delay regardless of cause may cause money to tighten but that is only a guess on my part. I do not know how much of the actual process has made the news, but if letters from lawyers is the first point of discussion I have real concerns with the management of the product. My assumption is that the staff has been working on this and Beitler is concerned about the time it takes for government to do anything -- again only speculation on my part but we have some pretty smart people at the table.

Also why is Assistant City Attorney Kevin Ramakrishna so vocal and opinionated while City Attorney Mike May is more reserved and pragmatic in his comments. Of course that might just be me reading between the lines but the mayor and staff have offered no comment, Even Ald Ahrens is not addressing the specifics and he is often very vocal regarding the developer.

Clearly there is tension between the two parties, but until we have this issue before us in full the city needs to manage the press - me included.


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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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These haunting photos reveal the retail apocalypse ripping through America
  • The retail apocalypse is ripping through America.
  • More than 5,300 store closures have been announced so far in 2019.
  • These photos reveal the impact of the retail apocalypse, with deserted malls, empty shopping centers, and disorganized stores selling deeply discounted wares.

The retail apocalypse continues to tear through America.

More than 5,300 store closures have been announced so far in 2019, as Victoria`s Secret, JCPenney, and Gap shutter dozens of locations.

1,100 closures were announced in a single day in March. Ten retailers have filed for bankruptcy or liquidation so far this year.

The closures and bankruptcies are leaving their mark on malls and shopping centers around the country. Here`s photographic evidence that a retail apocalypse is hitting the US hard...

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RSK; Great photos but haunting for the retail industry. Take a peek.

Ken Notes: We need to be aggressive with adaptive reuse because it only take a short while for an empty building to decay...

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Tax Code Updates Mean Cost Segregation Studies Are More Important Than Ever

The Tax Cuts and Jobs Act of 2017 sent ripples through commercial real estate, thanks largely to the revelation of opportunity zones. But a few TCJA tax code changes could be even more influential. One that has tax professionals abuzz is bonus depreciation, which can save large amounts of money no matter the project.

Bonus depreciation allows taxpayers to write off a portion of an asset in the year it was acquired as long as that asset has a sufficiently short life span. Personal property like plumbing systems, for instance, have a shorter life span than a building structure itself, and can be written off. The TCJA doubled bonus depreciation on eligible assets, from 50% all the way to 100%...

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RSK: This may help rectify the tax code 39-year depreciation mistake in the above article but not all of it.

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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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March 2019 - 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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With Rising Demand From Boomers, Senior Housing Developers Shift To More Urban Projects

Gone are the days of sleepy, gated retirement communities in secluded, suburban settings. Millions of baby boomers reaching retirement age today are demanding a more urban style of living, and developers are beginning to respond.

"One of the things we`re seeing with the population over 65 is they want to stay in the heart of their community," Mather LifeWays Senior Vice President Gale Morgan said. "Boomers are saying `I want ease of access, I don`t want to have to get in my car to go to the restaurant or the doctor.` The urban lifestyle is getting more and more popular." ...

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RSK: Not sure where I would like to be. More crime in the heart of the city but convenience is always a factor.

Ken Notes: I have been suggesting for years now Madison needs a senior complex downtown...

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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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Investors Betting Big On Life Science Properties, Even As Cap Rates Compress

With the rapid expansion of the U.S. life science industry, investor interest in life science properties has expanded dramatically, despite the fact that such properties are more expensive than ever.

Prices in the sector are up. During the recession, life science cap rates averaged about 9% nationwide. Since then, compression has been steady, with cap rates at about 6.5% as of Q3 2018 — a little lower than standard office space, which has also seen cap rate compression in recent years....

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RSK: This may be the new darling of real estate investments although warehouse/distribution is still right up there.

Ken Notes: Madison needs wetlab space for entrepreneurs...

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5G & the History of Wireless Networks
Fifth–generation cellular network technology – 5G for short – is a hot topic. Mobile technology undergoes an evolutionary leap every decade or so. We`re on the cusp of the most consequential one yet. The hype surrounding 5G has been intensifying. The drumbeat will continue to crescendo. Consumers should expect to be inundated with marketing information presently. Just like previous leaps, 5G promises monumental improvements to existing mobile networks and revolutionary new applications thanks to its touted super-fast speed, high-bandwidth capacity and low latency. 5G will make possible autonomous vehicles, remote medical procedures, ultra-high-definition 3D videos, cutting-edge cloud computing, IoT, AI and smart, connected buildings...   ...more

RSK: This will affect commercial real estate. A good read.

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Building For Lease: 2101 W Broadway Monona WI

Former Shopko big box now available for lease! This site has unmatched presence along a major highway visible to 117,000 vehicles daily. Adjacent tenants are quality nationals such as Kohl`s, Hobby Lobby, Planet Fitness and more. This opportunity is ideal for retail or a creative adaptive reuse of the site such as climate controlled storage, call center, etc. 2 out lots also available for sale.

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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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From Drumming With Prince And Beyoncé To Building With Shipping Containers: Queen Cora Constructs Hurricane-Resistant Projects

Cora Coleman grew up scratching out designs on graph paper and flipping through pages of map books.

She is the third generation in her family working in real estate in Houston. She is also a professional drummer who as Queen Cora has performed with superstars such as Beyoncé and Prince and has played for audiences around the world. She is a vegan and is passionate about energy preservation, minimalism and durability.

A hodgepodge of those experiences guided her to form Building Simple Inc., a construction firm that is repurposing shipping containers for residential, commercial and recreational use.  

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RSK: So much possibility here!

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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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Real Estate Developers Are Now Designing With Instagram in Mind

Designer Ryan Korban has always been devoted to Instagram. An influencer himself (with some 137,000 followers), the 34-year-old New School graduate earned his success by designing flagship stores for high-fashion brands that were flooded with selfie-takers from the go. Using bold colors and “wow moments” such as a massive dome made of gold leaf for the Madison Avenue Aquazzura boutique, he lured lookie-loos and the design-curious off the street just to take photos to post to their feeds. “No one wants to design a store that people just walk past,” he says....

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RSK: Avant marketing.

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2019 RASCW Commercial Real Estate Forecast

2019 RASCW Commercial Real Estate Forecast

May 29 @ 1:30 pm - 4:00 pm

TDS Conference Center - 525 Junction Road

FREE SEMINAR!

Commercial Real Estate: What is Next?
Mark J. Eppli, Director of the James A. Graaskamp Center for Real Estate

Tax Cuts & Jobs Act of 2017: What Does it Mean in 2019?
Jeff D. Olson, CPA, MBA – Berndt CPA

Madison Development
Matt Wachter, Manager of Real Estate Services and
Dan Kennelly, Manager of Office of Business Resources,
Economic Development Division, City of Madison

Corey Lamont and Tom Larson – Wisconsin REALTORS® Association
Legal Updates and Legislation

Social Networking 4:00 pm – 5:30 pm
Eno Vino Wine Bar & Bistro

Click Here to Register for this FREE event!

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Walmart and Kroger are rethinking stores as the online grocery battle intensifies
  • Walmart and Kroger are rethinking store layouts and functions as they battle for a bigger share of shoppers` online grocery spending.

  • Walmart has considered adding an automated fulfillment system to its stores, according to Walmart US CEO Greg Foran. This could entail robots picking grocery orders.

  • Kroger has considered designating a separate area within its stores for picking online orders "so it doesn`t create a distraction for the brick-and-mortar customer," Kroger`s chief digital officer Yael Cosset told Business Insider.

Walmart and Kroger are rethinking their brick-and-mortar store strategies in the face of growing competition from Amazon for shoppers` online grocery spending...

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RSK: Even the grocery wars are all about fulfillment!

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2018 Event Calendar

NextGen | A Developing Industry

March 19 @ 4:00 pm - 5:30 pm
CARW 1st Floor Training Room, TBD
Milwaukee, WI 53202 United States
+ Google Map

NextGen: Developer Session Hear from some of the top developers in the industry in the March NextGen session - exclusive to members of the NextGen class! Speakers: TBD Interested in being a NextGenR...

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RSK: A list of CARW Events and CE.

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Commercial Real Estate Execs Arrested In Massive Bribery Scheme To Get Kids Admitted To Elite Universities

CEOs and presidents of major real estate and development companies were among the more than two dozen prominent and well-heeled parents involved in a massive $25M bribery scheme to get their kids admitted to some of the nation’s most elite universities.

Crown Realty & Development founder and CEO Robert Flaxman, WP Investments President Bruce Isackson, Dragon Global CEO Robert Zangrillo and John B. Wilson, a founder and CEO of an undisclosed private equity and real estate development firm, were among the 32 defendants charged with conspiracy to commit mail and wire fraud, according to a criminal complaint filed by the U.S. Department of Justice in Massachusetts....

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RSK: Oh oh Rorge....not just Hollywood Elites I guess.

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Land for Sale: 2101 W Broadway Monona WI

2 outlots available for sale on the former Shopko site with unmatched presence along a major highway visible to 117,000 vehicles daily. Adjacent tenants are quality nationals such as Kohl`s, Hobby Lobby, Planet Fitness and more.

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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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Retail Space Paoli, WI
Ideal retail space will be available in June 2019, in the charming and popular destination village of Paoli, WI, just minutes from Madison. A retail art gallery has operated very successfully in the space for 31 years.

The space is located in the historic creamery overlooking the scenic Sugar River. It features high ceilings, large glass block windows, ceramic block walls, wheelchair accessibility and off-street parking.

Other businesses in town include an upscale restaurant, several other eating establishments, art and craft galleries, a beer garden, an artisan cheese store and other specialty shops. A well-established merchant organization plans several town-wide events each year, attracting sizable crowds and offering live music, refreshments, art openings and other special activities. Paoli is also a popular area for cyclers, fishing and boating.

The total rental space available is 5170 square feet, including retail/commercial space, bathroom, and storage. There is an option to split the space into two sections (820 square feet and 4350 square feet). Rental rates from $5.38 to $6.22 per square foot. Tenants pay utilities.

If you have anyone interested please call or text Ralph Kamps at 608-345-2880 for more info...

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Ken Notes: This is perfect as a destination retail outlet for arts, brewery, winery, crafts, a bike shop or more.

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How these 33-year-olds are taking Sweetgreen from a dorm room start-up to the ‘Starbucks of salad’

Sweetgreen is the first-ever unicorn salad start-up, luring lunchtime lines across the country with its millenial- and Gen Z-friendly $12 salads. Now ,the brand that brought the farm-to-table trend to fast-casual dining wants to be “the Starbucks of salads. ”...

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RSK: Love these bootstrap stories. Betting you will see these in more college towns soon such as Madison.

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Commercial Brokers Group, Inc.

Next Event:

CBG Meeting and CE-1 Wisconsin Listing Contracts
Date: Tuesday, April 9th, 2019
Time: 07:15 AM

Event Details:
Mark your calendar for our breakfast meeting and CE-1 Wisconsin Listing Contracts on Tuesday, April 10, 2019. Thanks to our sponsor, Wisconsin Commercial Real Estate, LLC. 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: 2598 W. Main Street, Sun Prairie

Congrats 2018 Deal of the Year Winners

OVERALL DEAL OF THE YEAR

Jenny Lisak & Aimee Bauman
Key Commercial Real Estate
The Gebhardt Building
801 E. Washington Avenue




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How to Avoid the Next Real Estate Downturn

Frans and Caroline Swaalf, management consultants in the Netherlands, have been enamored of South Florida since they were graduate students at the University of Miami in the 1990s.

When the housing crisis hit in 2007, they thought their time to buy had come. They bought a condo in the Fontainebleau, a resort in Miami Beach, in 2010, after prices had bottomed out, paying 60 percent less than it had sold for two years earlier. The condo has since doubled in value.

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RSK: o question about it, real estate for a long term investment is hard to beat.

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Building For Lease: 1 QBE Way Sun Prairie WI

Fantastic campus opportunity. Space options from 5,000 - 75,000 square feet on two floors. Major capital improvements underway including HVAC, lobby, and landscaping. Tenant only fitness center with lockers and showers. Training rooms, and conference center usage. Back up generator...

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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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A First Step: Senators Introduce Bill To Fix Costly Depreciation Mistake In GOP Tax Law

Imagine you`re the proud owner of Los Pollos Hermanos, a fast-food empire with 14 locations in the American southwest that you`ve built on the twin pillars of perfectly seasoned fried chicken and meticulously maintained restaurants.

The year is 2018, and you`ve noticed that a few of your establishments, including the flagship spot in Albuquerque, could use some freshening up. So you dip into the corporate coffers and pony up $1,000,000 to renovate and refurbish the interior portion of several of your restaurants. And you couldn`t wait to do it. Why is that?

...How could that be? Based on your homework, you had been certain that your improvements would give rise to an immediate $1 million deduction. And you were right. But now, your trusted accountant has informed you that instead, you`ll recover that investment over nearly FOUR DECADES. And she`s right. How can both of those things be true?...

To understand how you got in this mess...

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RSK: This is some serious tax write-offs going down the drain. I hope the House gets its act together asap!!

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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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Building For Lease: OM Station 910 Mayer Ave Madison WI

Exciting mixed-use development of the former Oscar Mayer facility. Office and warehouse occupy the northern half and retail will be situated on the southern portion of this under-served retail area. Existing buildings with their vintage characteristics will be redeveloped to accommodate a variety of uses. 2,000 - 60,000 SF available. Set along heavily-traveled Packers Avenue...

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Crown Commercial Real Estate/Development, LLC
Sponsor

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

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

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Professional Real Estate Management and Sales

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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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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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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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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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