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...
An ever-growing consumer appetite for e-commerce has stoked record demand for warehouses and other logistics infrastructure
Despite the COVID-19 pandemic, or, rather, because of it, e-commerce powered a banner year for warehouses and the industrial real estate sector in 2020. ...more
“E-commerce was the trend of last year,” said Carolyn Salzer, senior research manager of industrial logistics at Cushman & Wakefield, the commercial real estate services firm headquartered in Chicago. “It’s been really coming up in the past few years, but the acceleration exacerbated by the pandemic has just set unprecedented levels of absorption and leasing activity.”
In fact, the final quarter of 2020 was the strongest on record...
RSK: And guess what...SE & SC Wisconsin is included in part of the Chicago distribution area.
Ken Notes: This will continue to get more local as e-commerce moves to even larger items and competes in appliance and auto markets. Also watch for a "pick up center" rather that to you porch. This will be driven by cost but Amazon and others will blame crime and will have hundreds of "ring" videos to prove they are justified.
Join us April 22 from 4 - 6
Refreshments on the Square
Special Viewing of 2 & 8 S. Carroll Street
Hosted by Heather Ewing, CCIM | ABSTRACT Commercial Real Estate & Vic Villacrez | Hovde Properties... ...more
Dick’s Sporting Goods has gone experiential.
The nation’s largest sporting goods retailer will debut a new
concept, called Dick’s House of Sport, at Eastview Mall, in the
Rochester suburb of Victor, New York, on April 9. Described as a place
to “connect and play,” the 100,000-sq.-ft. store offers customers a
hands-on shopping experience and features a rock-climbing wall, a
high-tech batting cage and a 17,000-sq.-ft. outdoor turf field and
running track where Dick’s will host sports events. The field will be
open year-round for customers to use and will boast an ice-skating rink
in the winter....
RSK: A sure sign that things are slowly coming back to a somewhat normal retail shopping experience. Kudos to Dicks on this one.
Ken Notes: This is brilliant if you have the space. Also Ralph and I have been preaching destination retail long before the pandemic. I see a Dicks Sport Bar in the very near future...
Heather Ewing - 608.239.4781 - Heather@ABSTRACT-CRE.com ...more
As golf fans shift their gazes this week toward the majestic Augusta
National golf course and the Masters Tournament, in Chicago, the game`s
many courses are apparently lodged in a bunker.
Golf courses in the Chicagoland suburbs are selling quicker than at any point over the last decade, according to CoStar data — further evidence of the sport`s long-term decline and winnowing popularity with young people.
But buyers are lining up from a rather surprising sector of real estate: industrial.. ...more
RSK: Several things going on here. First the usual NIMBY...Not In My Back Yard, secondly the need to use the land for the highest and best use and thirdly the tax revenue. I`d be curious on your take on this. Drop us an email r text. Glad to see two of the three worked out. But there will be more. Just like Madison`s Glenway Golf Course and a few others.
Ken Notes: I have said before it is always the third owner that makes money on a golf course. Erin Hills is my favorite example. I feel sorry for Mr. Lang...
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.
Declines driven by massive heights reached during last year’s pandemic panic buying, says Placer.ai
“The large year-over-year declines are being driven by the massive
heights that these same grocery brands saw in the early weeks of the
pandemic when consumers were afraid of not having enough key items,”
said Ethan Chernofsky, vice president marketing at Placer.ai in a blog post.
“But 2021 is going to be mired in the unique challenge of trying to
make sense of certain sectors in a world where year-over-year data could
be heavily misleading.”...
RSK: I have seen less people at Hy-Vee lately but then again I go during my lunch hour before I workout...not exactly prime time.
Ken Notes: ANY year over year comparisons to 2020 will be skewed why are we even looking....
Charming space with wood floors, tin metal ceiling and abundant sunshine located on iconic State Street. Some of the highest pedestrian foot traffic in the city! Nestled amongst experiential retailers such as The Overture and The Orpheum Theater and strong retailers such as Goodman`s Jewelers, Red Square Flowers and more. Pocket windows for highlighting retail and a small office with sink/plumbing for convenience. Nearby ramp parking.... ...more
articles about Amazon building here and Amazon building there. I’m not
sure any of us really fully understand the implications because it’s
happening so so fast,” the resident of one such neighborhood said.
Malls that buckled due to e-commerce or suffered during the pandemic are being given new life by the very entity that precipitated their decline — Amazon.
Over the last several months, the retail giant has gone on a shopping spree of its own, buying up disused malls across the country and turning them into distribution centers...
RSK: I believe Ken and I called this years ago...Amazon shrinking the last mile.
High Point Office Park is an 11-building, 217,418 square foot office park located in one of Madison, Wisconsin’s finest western locations.
Walgreens is getting into the digital-banking-as-a-service business.
The drugstore giant is teaming up with global payments technology InComm Payments to provide its customers with digital bank accounts at MetaBank. The accounts will include a Mastercard debit card shoppers can use in-store and online and allow them to earn cash rewards on all purchases as part of the new myWalgreens customer loyalty program launched in November 2020.... ...more
RSK: Again this shows the power of great real estate locations and plenty of them. If you have that you can market just about anything...which Walgreens is obviously doing.
Other Events Still on hold - email@example.com...
View the 2019 Deal of
the Year Awards presentations here.
Congrats to all the winners and nominees.
Announcement: CBG has cancelled all meetings and activities through 2020, including their famed Holiday Gathering. See you next year hopefully.
Chipotle’s new program offers degrees in related fields like
agriculture, culinary, and hospitality to employees that have worked for
more than four months
Chipotle Mexican Grill announced Thursday that the fast-casual chain
would begin offering debt-free college degrees for employees in related
fields, including agriculture, culinary, supply chain, and hospitality.
The program — which is open to all employees that have worked at the
company for at least four months — offers 100 different degree options
at 10 universities including the University of Arizona, Southern New
Hampshire University, Wilmington University, and the University of
RSK: This is the wave of the future especially for hospitality and Chipolte is ahead of the curve. Just so hard to find employees to work in these fields. Other industries will follow soon. The caveat being will the workers have to pay taxes on the amount spent for education like payroll? No one has mentioned that worm rearing it`s ugly head.
Mall vacancy rate in the United States rose from 10.5% in the fourth quarter of 2020 to 11.4% in the first quarter of 2021, according to Moody’s Analytics.
The fall of 90 basis points is the highest decline ever recorded in the sector, surpassing the 80 basis point slide recorded in the first quarter of 2009 during the Great Recession.
Malls all across the U.S. were impaired by shutdowns and stores closed by bankrupted retailers such as Neiman Marcus, Brooks Brothers, Lord & Taylor, and Modell’s Sporting Goods. Movie theater chains like AMC and Regal have re-opened, but only to limited, socially distanced audiences. Butler Enterprises announced just this week that the Regal Cinema at its massive center in Gainesville, Fla., would be re-opening on April 23.
RSK: Not surprising and many a mall will have to repurpose. The land is more valuable than the structure in many cases.
Ken Notes: There has to be a reason to visit the mall, what is the experience vs. online, see the Dicks article...
Electric vehicles are coming to a charging point near you, and they are coming sooner than you think thanks to government, which says fossil fuel car sales will be phased out by 2035, and to consumer pressure.
Knight Frank have looked at what this means for UK real estate. These are the three key takeaways.
1. Workplaces: Your Tenants Will Like You...
2. Retail: EV Charging Could Help To Rescue Your Shopping Centre...
3. City Residential: You Can Taste The Difference...
RSK: The negative and one reason you may not want to comes down to this; Who is going to pay for all that electricity?
Ken Notes: It is all about the range...
Many in the commercial real estate industry are speculating whether 2021 may finally be the year that the U.S. Congress funds a bipartisan comprehensive infrastructure plan. Ambitious proposals before U.S. Congress would modernize roads, bridges, ports and more—and conceivably serve as a strong economic stimulus. The CRE community may have plenty of reasons to get behind these goals.... ...more
RSK: The problem with this is...the massive infrastructure bill does not really have much money for what many feel is actually infrastructure.
As a cost- and time-saving technique, modular construction
has long had a great future ahead of it. Arguably, it still does, with
off-site manufacturing of essential building components a useful
strategy for some projects in a time of projected construction labor
shortages and higher material costs.
Yet obstacles remain. Even before the coronavirus pandemic,
modular construction suffered from lingering and generally outdated
recollections of cheap prefab components or the early days of the mobile
home industry, according to builders who use the technique effectively.
Then the pandemic hit, knocking the construction industry for a loop,
and with it modular construction, especially its use for building
RSK: Plenty of pros and cons for modular construction. Just will take the developers and public to accept it for what it is. With all the new tech out there, such as 3D printing coming of age, I am betting it will gain ground. I could see it for a vacation home myself. Also may help the housing situation for homeless, single parents, retirement flats and low income housing. Keep an on this...
Careers in Commercial Real Estate Q&A Panel
April 13 @ 4:00 pm - 5:15 pm
Do you know students who are interested in Commercial Real
Estate? If so, this is an opportunity to get their questions answered by
inspirational industry leaders. They will discuss perspectives from
brokerage, investment, finance, and property management. Students will
have the opportunity to interact in breakout rooms and gain insight into
what a future in Commercial Real Estate may hold. Register today and
learn more about this fast-growing industry in Wisconsin!
When: Tuesday, April 13 at 4 PM
Commercial Real Estate Resources:.........
REALTOR CV Addendum:
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....
The major players in the New York City coworking market have buckled under the stress of the coronavirus pandemic, giving back millions of square feet, needing cash infusions or restructuring.
But Knotel, IWG and WeWork all appear poised to exist in a post-Covid landscape where workplace flexibility is expected to be key. Smaller operators — the backbone of the coworking industry — have a far less certain future. Unlike the giants of the coworking world, these entrepreneurs do not have a cash cushion or an institutional real estate name to break their falls.... ...more
RSK: A lot of downsizing and the small operator suffers the most.
Enjoy the Best of Both Worlds at 700 East. Located
between State Street and the eclectic serenity of E. Johnson. Enjoy
favorites such as Robin`s Room, Macha Tea, Salvatore Tomato Pies,
Vintage Brewery, Festival Foods, Kemet and more. Just when you thought
it couldn`t get any better, it does! Greater exposure built-in with 61
beds, a gorgeous rooftop terrace with grills, and underground parking.
Thirty high school students from Friendship Collegiate Academy and Friendship Tech Prep Academy in Washington, D.C., are completing Project Destined, a 10-week course that teaches them about opportunities in commercial and residential real estate developments... ...more
RSK: Here, here! There should also be a required economics study as well. Maybe some of the trades too like electrician, plumbing etc. so kids can have a choice if they want to go to college or to a trade school.
With the largest Real Estate Practice of any law firm in Wisconsin, Reinhart offers clients custom-tailored real estate insight.
Charming space with exposed brick, high ceiling, partial hardwood flooring, and abundant sunlight leads to a large outdoor patio. Ideal location for a breakfast operator or cafe, restaurant, or a creative design/decore firm. Enjoy density in a relaxed environment with 5:1000 parking. Co-Tenants include Lone Girl Brewing Company, Orange Shoe, Edward Jones, Knight Barry Title, Medispa and more... ...more
Consumers across the globe spent $900 billion more at online retailers in 2020 compared with the prior two-year trend, according to a report released Tuesday by the Mastercard Economics Institute.
Shoppers are heading back to restaurants and returning to stores to buy clothes and shoes in person...
- Consumers across the globe spent $900 billion more at online retailers in 2020 versus the prior two-year trend, according to report from the Mastercard Economics Institute.
- However, the significance of online sales beyond the Covid pandemic will depend on the retail sector and how consumers prefer to shop.
- Grocery and discount stores are likely to see the most dramatic and lasting shift to e-commerce beyond the pandemic, especially since online sales drove a smaller portion of their overall sales before the crisis, the report said.
RSK: You can feel the ground swell already...let`s hope it continues.
After six months of closed theaters and an
operating loss $2 billion, Regal Cinemas will be re-opening some 500
theaters beginning this month. Attendance will be capped at between 25%
and 50% of capacity, depending upon location.
The next largest chain in America after AMC, Regal
operates 7,211 locations in 42 states. After the outbreak of the
pandemic, Warner Bros. announced it would release all its 2021 films
simultaneously in theaters and on HBO. Regal’s owner, Cineworld, made an
agreement to abide by Warner’s earlier pledge and will therefore be
opening theaters and showing Warner Bros. pictures... ...more
RSK: This is a good sign for retail and hospitality.
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
Lee, the founder of Lee & Associates, died Monday night from
complications of cancer, the company announced Tuesday. Lee was 78 years old.
fostered and maintained incredibly close personal and business
relationships with Lee & Associates professionals, including his
abundant support in our efforts to continue the growth of our company in
his entrepreneurial vision,” Lee & Associates CEO Jeffrey Rinkov
said in a statement... ...more
RSK: As the song goes we lost "One Of The Good Ones"!
Developer Rick Caruso is known for his lavish outdoor malls, luxe seaside resort near Santa Barbara and stewardship of USC as chair of the board of trustees. Next up: He’s planning to make a splash in cryptocurrency.
In what may be a real estate industry first, bitcoin will now be accepted for residential and commercial rent at the Grove shopping center and other properties owned by Caruso. The Los Angeles real estate magnate is planning other digital efforts such as using blockchain technology to support a new rewards program for shoppers.... ...more
RSK: I included this because you will see more and more people jumping on the Bitcoin wagon...be ready for it.
1 - On Wednesday, the Biden administration revealed a plan to hike taxes in order to fund its $2.3 trillion infrastructure plan. One major business leader has come out in support of the plan. Who?
A Elon Musk ...more
B Jeff Bezos
C Warren Buffett
D Bill Gates
1 Car radio button ...more
5 Like some ears
6 Nervous one
7 Where Bill met Hillary
8 Betty Smith, to her student
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. ...more
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... ...more
Offering real estate services and design-build construction solutions for growth oriented clients... ...more
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.
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... ...more
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!
WRA President & CEO
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... ...more
Thanks you for sponsoring CIREX and Cirexnews.com ...more
Since 1975, Flad Development & Investment Corp. has emerged as a leader in the development of quality commercial real estate projects in Madison and Milwaukee.
The Gialamas Company`s premier development. The park has over 57 buildings containing 200+ companies, occupying over 3.0 million square feet.
Ruedebusch Development & Construction, Inc. is a highly qualified,
vertically integrated full service commercial construction, and real
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Design Build Construction
Commercial Real Estate Brokerage
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"The attention to detail, preventative maintenance, and proactive communication exhibited by MIG makes them a true business partner."
Professional Real Estate Management and Sales
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.
Expect Professional Management with a Personal Touch
with every T. Wall Urban Village.
(608) 575-1018 or Contact@TWallEnterprises.com ...more
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.
Our focus is your focus, our goals are your goals.
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
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... ...more
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
608-255-5060 or 608-255-8780 firstname.lastname@example.org ...more
Keller Real Estate Group Understands Local Business Real Estate Needs
744 Williamson St.Madison, WI53704
Sunday - Thursday 4PM - 9PM
Friday - Saturday 4PM - 10PM
130 S. Pinckney St.Madison, WI
Hours Wednesday - Sunday 4:30PM - 9:00PM
Former KFC location. Property only. Vacant. Being sold in”As Is “
Condition. Corner of Oak and E. Wash.. Drive through window. Madison
Metro stop at corner. On major E/W route to the Capital. 2nd Picture in
Attachments is as it appears today.
Co-listed with Ralph Kamps. ...more