This Weeks Articles...
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...
A new form of affordable housing for university students is moving forward after the City Council approved an agreement with the developer earlier this week.
Now Oliv Madison, a proposed building from student housing developer Core Spaces, will go before the Plan Commission on Nov. 22.
The development, proposed for the 300 block of State Street, would make 10% of its beds available at a discounted rate through an agreement with the University of Wisconsin-Madison and the city. The building is expected to have approximately 1,100 beds...
RSK: 10 stories is quite expansive for State Street...especially that close to the Capitol.
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.
It has always seemed to me that you were either made for urban life or not. The Green Acres theme song plays in my mind that has the very stereotypical city lover, Eva Gabor, challenging her farm-loving husband: “New York is where I’d rather stay. I get allergic smelling hay. I just adore a penthouse view. Dah-ling I love you but give me Park Avenue.”
RSK: You can see this happening in our market area. People want sustainable neighborhoods and subdivisions with goods and services nearby. You will also see the office market tighten up a bit in urban business parks rather than central business district. Workers want to ditch the downtown commute and work closer to where they live...
The Gialamas Company`s premier development. The park has over 57 buildings containing 200+ companies, occupying over 3.0 million square feet.
One in four retailers is worried about the same supply chain issue as the holidays approach.
According to the “2021 State of Shipping Report” from multi-carrier e-commerce shipping software provider Shippo, shipping” was mentioned in 23% of responses from surveyed retailers to the question, “What keeps you up at night when it comes to readying your business for the 2021 holiday season?”
While the results do show that most retailers remain optimistic, more respondents expressed concern about holiday shipping than in 2020...
RSK: This is the ying and yang of online retailing vs brick and mortar in store buying. When people come to a physical store they are in a sense the delivery aspect. So, now when you rely on online shopping and delivery someone else has to do the delivery....and the supply chain wasn`t ready for it.
Heather Ewing - 608.239.4781 - Heather@ABSTRACT-CRE.com
New data shows which states saw the most people quit their jobs in September when a record 4.4 million Americans walked out of work.
Overall, the labor shortage is slowly fading. Job openings dipped to 10.4 million in September, signaling more Americans took jobs that month. But record quits signal the workers are still in an unusual state of flux, and like many aspects of the pandemic recovery, the wave of walkouts is extremely uneven...
RSK: As could be predicted, Wisconsin lies in the middle of both jobs that were people quit and job openings.
The Opus Group is developing a 279,872-square-foot speculative industrial building in the Midwest Transportation Center in Kenosha, Wisconsin.
Less than three miles from the four-way interchange of Interstate 94
and Highway 50, the industrial building will offer tenants freeway
access. In addition, the 14.6-acre site is one of very few infill
industrial sites remaining in Kenosha offering close proximity to
numerous hotels, restaurants, retail outlets and corporate users. ...
RSK: This area in Kenosha is on fire...in the good way. Warehousing is drifting in from Chicago and northern Ill to this are of Racine and Kenosha....and a spec to boot. I will try and follow this property because I believe it will occupy quick;y.
Retail Space For Lease
Floor 1, Suite 515
2,500 SF $40.00 Annual/SF
• > 2.5M Pedestrians Annually one block away
Expand your client base at this Highly Visible location that offers >2.5M annual pedestrian foot traffic and ~33,200 VPD. Ideal for an established operator looking to lease a prime location in the Heart of Downtown Madison. Suite 2 is 1889 SF (facing University Ave); Suite 3 is 880 SF (includes Mezzanine and is facing N Lake St). The space is surrounded by various mixed-use developments adding over ~4100 beds which is revenue for you! Proximate to the new Target, Mooyah, Raising Cain`s Chicken Fingers, Colectivo Coffee and other strong local, regional and national retailers. Designated #6 in the nation for Top Livability according to SmartAsset`s 2021 study. Ask about the upcoming Retail Grant.
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.
CVS Health will close 900 stores over three years and launch new formats as part of its strategic push to create health destinations in the communities it serves.
The retailer, which operates over 9,000 locations, said in a release that it has evaluated “changes in population, consumer buying patterns and future health needs to ensure it has the right kinds of stores in the right locations.” This analysis led CVS to the decision that it was overstored in some areas. The chain plans to shutter around 300 locations a year over the next three years. It will take an impairment charge in the fourth quarter of between $1 and $1.2 billion to write down associated costs.
CVS, which acquired insurance provider Aetna in 2018, has also experimented with new modes for meeting customer healthcare needs, such as telemedicine...
RSK: Check out the comments below the article. Didn`t think CVS was a major player? Well, guess again...they are buying Aetna Insurance.
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
Our focus is your focus, our goals are your goals.
Sublease Office Sector Inventory Declined for First Time Since Pandemic Began
The North American sublease market may have finally peaked after several quarters of increasing inventory. This timing would match a similar path to previous recessions when sublease space increased for approximately two years before hitting its highest point and then receding.
In Q3 2021, sublease office space declined in more than 50% of North American markets, including 20 markets where sublease inventory dropped quarter-over-quarter....
RSK: Finally some good news for the office sector.
CARW Holiday Party
The CARW holiday party is back. Join us for cocktails and hors d’oeuvres and holiday cheer on WEDNESDAY, December 1st.
Bradley Symphony Center
212 W Wisconsin Ave, Milwaukee, WI 53203
Wednesday, December 1st, 2021
Ken Notes: Thank you Tracy Johnson President and CEO of CARW for keeping me in the loop.
With the largest Real Estate Practice of any law firm in Wisconsin, Reinhart offers clients custom-tailored real estate insight.
However, it said it plans to announce 10 closures in January, and it will provide additional details about those locations in the near future.
RSK: No surprise here. The states that have strict covid lock-downs and procedures such as California, are where it will happen.
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
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.
Work life for many is in a mushy middle ground, and what’s at stake isn’t just who is getting talked over in meetings. It’s whether flexibility is sustainable, even with all the benefits it confers....
RSK: It seems, wherever humans are involved there is jealousy and strife. Those that rise above it will be the ones to succeed.
High Point Office Park is an 11-building, 217,418 square foot office park located in one of Madison, Wisconsin’s finest western locations.
Charming property with abundant sunlight, exposed brick, and warm atmosphere. Lease an office you are eager to get to each day! The space includes a Reception area, 3 Offices (each has a window(s), Streamlined Kitchenette, Conference room, and parking. Enjoy lunch or dinner at Lone Girl, a service at Ecco Salon or shop for the Holidays at Red Barn. Across the street are complimentary services such as Indulgence Nail Garden, the upcoming Evie & Co. Boutique, Edward Jones and more. Over 17,100 VPD and near Veridian`s new Heritage Hills development.
Prime Retail Space available
Join Anytime Fitness, Shopko Optical, Subway, and US Nails in this highly visible 1st floor retail space. Open floor plan awaiting your design.
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
As a result of growing e-commerce sales, the amount of goods transported through industrial facilities across the country has increased significantly. To capitalize on this growth and remain competitive, companies are modernizing their warehouses to increase operating efficiency and shorten delivery times. Furthermore, many industrial users are looking to automation as a tool to increase efficiency, promote warehouse employee safety and address rising labor costs due to the scarcity of warehouse workers across the country.
RSK: I think we need to have two separate categories for this article. To me industrial means some form of manufacturing and/or assembling. Warehouse is storage of those goods...kind of a Econ 201 course.
Cash sales don`t provide safeguards like title searches that mortgage companies insist on when they`re financing a deal...
A glut of repossessed and abandoned houses in Detroit has contributed to a proliferation of “fake landlord” and deed fraud scams that are not only devastating the finances of many would-be renters and buyers but also creating headaches for owners who discover they’ve got tenants they didn’t choose.
Exacerbating the situation, mortgage lenders are cautious about extending credit and home prices are so low that most deals are for cash, putting Detroit residents at greater risk of buying or renting homes from scammers who don’t actually own them....
RSK: I would like a local attorney or Title Company to chime in on this. Can this actually happen in Dane Co.?
Companies have a long tradition of offering women workplace flexibility, only to then punish them—with fewer promotions or pay raises—for taking advantage of those benefits. Has the pandemic really changed that?
I wrote about this in a piece for Politico magazine this week, and it’s something I’m thinking about a lot. Because as the anecdotes about burn out pile-up and the data about women quitting their jobs roll in, what seemed like a blessing—the ability to work remotely—increasingly feels like a curse....
RSK: Very interesting view point.
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
1 Annual New York City parade sponsor
6 Winnie-the-Pooh`s Hundred ___ Wood
14 Dot in the ocean
15 Prepare vegetables, perhaps
16 Nary ___
RSK: This week`s crossword courtesy of the Morning Brew.
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.
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:
"The attention to detail, preventative maintenance, and proactive communication exhibited by MIG makes them a true business partner."
Professional Real Estate Management and Sales
Expect Professional Management with a Personal Touch
For lease on Medical Circle - Up to 4,902 SF Available
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...
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