Madison is pursuing a future for the sprawling East Towne Mall area with much more housing, denser retail, high-rise office buildings, new streets and, maybe one day, replacing some or all of the mall.
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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...
Madison is pursuing a future for the sprawling East Towne Mall area with much more housing, denser retail, high-rise office buildings, new streets and, maybe one day, replacing some or all of the mall.
The emerging Greater East Towne Area Plan, covering an area roughly the size of the Isthmus, will provide guidance on future land use, housing, economic development, parks and open space, transportation and more with the intent to shape a complete new neighborhood.
RSK: Good to see that Madison is planning for the future around these Malls....lots of land and empty buildings to work with. The problem is can developers make it work cost-effectively? Right now with construction materials at an obscene high....not sure they can. This may be a bit too ambitious...but at least it is a start.
Ken Notes: Sounds like a destination to me....
MONONA - Norman David “Norm” Flynn, age 79, of Monona, died unexpectedly at home on Friday, June 4, 2021. Norman was born on July 19, 1941, in La Crosse, Wis., to Irene (Polodna) and Percy Flynn. He attended La Crosse Aquinas High School, the University of Wisconsin-La Crosse and the University of Wisconsin-Madison. On June 6, 1964, he and Susan Ann Romanski were married in Wisconsin Rapids, Wis. They both worked as English teachers at La Crosse Aquinas High School early in their careers. They moved to Madison, Wis., in 1967, and Norm was a speech teacher and award-winning debate coach at Monona Grove High School. In 1970, Norm left teaching to enter the real estate profession joining Munz Investment Real Estate in Madison.
Norm was involved in the development, marketing and management of investment properties from 1970 through the present. In 1978, he founded Norman D. Flynn Associates, Inc., an investment real estate firm located in Madison. Norm has been recognized by the real estate community as Madison’s Realtor of the Year in 1975 and State Realtor of the Year in 1984. He served as President of the Greater Madison Board of Realtors, President of the Wisconsin Realtors Association and in 1990, as President of the National Association of Realtors (NAR). He was a founding member, President and CEO of the International Real Property Foundation which is based in Chicago, Ill., in 1992. ......more
RSK: We lost another of the Good Ones!. Norm, a past President of the National Association of Realtors was a champion for real estate ownership. He was also a friend of mine and a racquetball partner for many years. Norm always had a smile to light up the room and willing to counsel anyone on real estate matters...at no cost. He will be missed on and off the court.
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.
High Point Office Park is an 11-building, 217,418 square foot office park located in one of Madison, Wisconsin’s finest western locations.
Big regional malls are usually located at major highway crossroads, also a good spot for distribution centers. So it’s no surprise that three warehouses might be going up on the former site of the Burlington Center Mall in New Jersey.
Plans for 1.9 million sq. ft. of warehouse space will be put before the Burlington Township planning board on June 3 by an affiliate of Lion Heart Industrial Trust, a Maryland-based real estate investment trust, according to a report in the Burlington County Times.
Also in the plans for what’s being called The Crossings is 100,000 sq. ft. of retail to include shops, restaurants, and medical offices in eight buildings that would range in size from 2,850 sq. ft. to 55,655 sq. ft......more
RSK: You will see more and more of this. Amazon has already purchased 6 malls for distribution.
Ken Notes: I also see Amazon creating hybrid facilities with showroom and delivery pickup for larger items and warehouse distribution for other items. Sears had it right in the 60`s...
A few years ago, I had a pretty good scam going that got me a co-working space for a cut rate. I paid $35 a month for an app that gave me access to various co-working spaces that relied on an honor system for users logging their hours — sometimes I logged my hours accurately, sometimes I did not, and sometimes I “forgot” to log them altogether. In my defense, I was a struggling freelancer living paycheck to paycheck in New York, barely making rent, and it was difficult for me to see it as anything other than a victimless crime. The space I was “stealing” was luxurious, almost certainly flush with VC money, and never more than half-full; I didn’t feel guilty for sitting in a chair that otherwise would have been empty, quietly typing away on my laptop. Besides, paying to work is something of a scam to begin with — a scam that now, in a post-pandemic world where many are disillusioned with work full stop, feels particularly grating.
RSK: I guess if you are a freelance person you can dictate where and how you work. Many others cannot and need the human interaction in person. Pay to work? You work from home you are paying your rent, paying your mortgage taxes and utilities or someone else is paying for your space so that argument thought cut is not looking at the whole picture of work.
Ken Notes: I see the "new" co-working space being much more that space. I see partnerships or proximity to hotels, gyms, coffee, dining, mail, meeting space and office supplies. Again destination is key, a place you would rather be than home. I also think office space will need to think about these amenities as well. EPIC has been doing this for over a decade now...
Heather Ewing - 608.239.4781 - Heather@ABSTRACT-CRE.com
The last year and a half has been anything but normal for college students coping with remote learning, Covid and dire economic prospects. But for those looking to get into commercial real estate, the rapid shifts in the industry and overall economic picture this spring portend better chances for landing jobs, albeit it during an unprecedented time of flux....more
RSK: UW Madison is one of the few in the USA that offers a degree in Real Estate...thanks to Grasskamp.
PACE programs are now operating in nearly half the states in the U.S. and only 14 have not passed legislation enabling the financing structure.
C-PACE financing has been gaining in popularity and new legislation set to take effect in New York City is expected to further catapult the use of the structure in retrofits and ground-up construction projects.
Commercial Property Assessed Clean Energy (C-PACE) financing has been on a sharp upward trajectory over the past several years with the cumulative amount of capital invested jumping from $111.2 million in 2014 to $2.07 billion through 2020. “It’s no longer accurate to say that C-PACE is poised for explosive growth. That growth is happening,” says Colin Bishopp, executive director of PACENation, a non-profit organization that works to expand access to residential and commercial PACE. “We’re in the early stages of really rapid growth for Commercial PACE.”...
RSK: The link to which counties in Wisconsin have C PACE programs. Dane is one.
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.
The multifamily space survived the 2020 coronavirus pandemic mostly unscathed despite fears over tenants` ability to pay. That has boosted its appeal as an investment target, but a provision in President Joe Biden`s tax plan could stymie deal flow and could even trickle down to fewer renovations to older properties and a deterioration of the housing stock.
The White House has proposed a tax and spending plan that would end tax deferments on most 1031 exchange transactions effective Dec. 31, 2021.
A study from Ernst & Young estimates the 1031 exchange program drives $4.4B in investments and related consumer spending, and firms participating in or supplying like-kind deals support 568,000 American jobs and $27.5B in wages and benefits. All told, E&Y estimates the existing 1031 exchange rules generate $55.3B in economic impact...
RSK:P A lot of mom and pop property owners could also suffer from this for their retirement, not just the elite 1%.
President Joe Biden offered a series of concessions to Senate Republicans this week, the White House said, as he negotiates passage of his $1 trillion infrastructure deal — a plan that would have huge implications for the real estate industry.
In an Oval Office meeting, Biden proposed new corporate version of the alternative minimum tax, set at 15 percent, rather than raising corporate tax rates to 28 percent from 21 percent to pay for the package, the Washington Post reported. The original funding plan was rejected by Republicans, who oppose the reversal of former President Donald Trump’s 2017 tax cuts.
RSK: Looks like it holds more for the construction industry than real estate.
The company still sees half its workforce working remotely within 10 years, though
Facebook is in the building.
As one of the most valuable companies in the world, Facebook has indisputable influence on modern workplace strategy — even before considering its animating concept is based on transferring physical life onto a digital platform. But, after a shocking work-from-home phenomenon made the world question its office space needs, one of Facebook’s top real estate executives told Commercial Observer that it has no plans to pull back on an expanding global footprint.
John Tenanes, vice president of global facilities and real estate at Facebook, said the physical workplace remains an important part of the company’s future....
RSK: This makes absolute sense to me. FB understands the worker and that collaboration is important as well. They will Hybrid their office/workforce to do just that.
NEW Mixed-Use Development, BTS with venting chase in place, patio space, > 17,100 VPD, 10:1 Parking Ratio (with 3 access points). Built-In Customers, new Veridian neighborhood (over 650 homes) directly behind. Top Tier demographic beckons stand-out retailers such as Lone Girl Brewery, Buttercup Beauty, Anytime Fitness, Dunkin Donuts and convenience around the corner with Kwik Trip and Walgreens...
In its proposed fiscal year 2022 U.S. federal budget, the White House allocated $600B in funds to support the creation of U.S.-based manufacturing jobs. The administration intends to support the initiative by establishing stronger product sourcing requirements to compel companies to build and source their materials in the U.S.
The plan includes funding for the Made in America office, created by executive order in January, which will work with other federal agencies to ensure allocated funds are spent in the U.S. While it`s unknown how much more demand this provision will create for industrial space, commercial real estate experts say any focus on reshoring manufacturing has the potential to further heighten industrial space demand......more
RSK: This may put a strain on the current inventory in this sector. Good time to be in it, however.
Ken Notes: We need to focus on two thing one demand for American products, Two trade balance with the countries with whom we do business.
Member Meeting & CE-1 Wisconsin Listing Contracts
Date: Wednesday, June 9th, 2021Time: 7:15 AM
We are planning on offering this breakfast meeting and CE-1 on Wednesday, June 9, 2021 (COVID regulations permitting). The breakfast meeting schedule is:
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 email@example.com.
24th Commercial Brokers Group Golf Outing
Right now, anyone willing to work in a restaurant in the United States could probably pick a city, style of food and price of the cuisine, and a job would be waiting. But upward of 1 million of those positions are going begging, leading to a bitter debate over the reasons.
Business owners point to the extra $300 a week in jobless benefits that are part of the American Rescue Plan for a covid-ravaged economy. The implication is that the benefit has allowed those who worked in restaurants before the pandemic and were thrown out of work to basically freeload on federal assistance even though businesses are reopening across the country.
RSK: I think this article and op-ed hits home. So many restaurant workers are treated poorly not only by patrons but by other staff and management. Many have found other types of employment where their work is better compensated. These people are the front line and the marketing part of the restaurant. They have to wear many hats and it isn`t easy to wear them all with some patrons. Management needs to recognize this. People often judge a restaurant by the service more so than the food.
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....more
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.
Amazon is opening its first-ever Disaster Relief Hub in an effort to more quickly aid natural disaster response.
The e-tail giant is operating the facility near Atlanta. Amazon selected this location because it is 310 miles from the Gulf Coast, 734 miles from the Bahamas, and within 1,535 miles of Puerto Rico and other Caribbean islands—areas that experience the most active hurricane season.
The hub will stock over 500,000 Amazon-donated relief supplies in 10,000 cubic feet of fulfillment center space. There will be enough supplies to fill an Amazon Air 767 cargo plane and immediately provide critical supplies when a natural disaster strikes across the southeastern U.S., the Caribbean, and Central America.......more
RSK: Good for Amazon seeing there will be more natural disasters in the next coming years.
Ken Notes: Great Idea, but pretty small in the grand scheme of things. This on a much larger scale would be a great public private partnership....
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)
*times vary by location
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....
Demise to 1500 SF OR Co-Working Space
Start small! Demise to 1500 SF or utilize space as a Co-Working Hub for 8 Businesses. Plenty of Parking with bike access via Seminole and ease of west/east travel via Hwy. 12/18 with the new Verona Road interchange. Walk out your door and enjoy various lunch options such as Barriques, Subway or Funk`s Bar & Grill. Visit Hy-Vee, Target, The Healthy Place-Apple Wellness for essentials on your drive home. Over 40,000 VPD with great visibility and signage opportunities....more
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.
With the largest Real Estate Practice of any law firm in Wisconsin, Reinhart offers clients custom-tailored real estate insight.
A six-minute meeting drove Portia Twidt to quit her job.
She’d taken the position as a research compliance specialist in February, enticed by promises of remote work. Then came the prodding to go into the office. Meeting invites piled up.
The final straw came a few weeks ago: the request for an in-person gathering, scheduled for all of 360 seconds. Twidt got dressed, dropped her two kids at daycare, drove to the office, had the brief chat and decided she was done...
RSK: Here is why many employees want more flexible work between office and home. Commuting being the highest priority. I assume when the unemployment benefits end this too will diminish somewhat. Of course, it is all on supply and demand of employees available, needing to and willing to work....that pool seems small at the moment.
For decades, anthropologists have been telling us that it’s often the informal, unplanned interactions and rituals that matter most in any work environment. So how much are we missing by giving them up?
In the summer of 2020, Daniel Beunza, a voluble Spanish social scientist who taught at Cass business school in London, organised a stream of video calls with a dozen senior bankers in the US and Europe. Beunza wanted to know how they had run a trading desk while working from home. Did finance require flesh-and-blood humans?
RSK: Some reasons companies want and need employees back to the physical workplace.
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.
Apple employees will return to the office three days a week starting in early September, the company confirmed to CNBC.
“For all that we’ve been able to achieve while many of us have been separated, the truth is that there has been something essential missing from this past year: each other,” CEO Tim Cook said in an email to employees that was obtained by The Verge. “Video conference calling has narrowed the distance between us, to be sure, but there are things it simply cannot replicate.”
RSK: Interesting seeing how these companies plan on the new work environment and who, when and how often employees will need to head to the office...
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...
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
Hybrid work may seem like a step into the future for the American workforce, but it looks to be turning back the clock on population movement.
Across the country, individuals and families have moved away from urban cores to less dense areas within their home markets, empowered to do so by the prospect of not commuting every day but not free to move to another metropolitan area altogether, a new working paper released by the National Bureau of Economic Research on Tuesday found.
"Overall, this finding suggests that the rise of so-called `Zoom towns,` smaller cities across America that have been marketed as remote work hubs, may not represent a broader long-term trend," wrote the authors, Stanford University economists Arjun Ramani and Nicholas Bloom.
RSK: If you live in the suburbs, this is probably true. You may have even moved to the "Burbs" for this particular reason. But the high price of a single-family home is making this a bit prohibitive and negates some of the value in moving there and thinking you will save some time and money.
1 New England NFL team, informally
5 Sugar substitute
10 Minor deviation
14 Group voting together, perhaps
15 Official UCLA mascot Joe
Ken Notes: Re #1 not enough spaces for what I was thinking...
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.
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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.
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 estate development company located in Madison, Wisconsin which offers:
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Our focus is your focus, our goals are your goals.
For lease on Medical Circle - Up to 4,902 SF Available
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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...
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
130 S. Pinckney St.Madison, WI
Hours Wednesday - Sunday 4:30PM - 9:00PM