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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...
One result of the coronavirus pandemic could be as many as 25,000 store closures announced by retailers this year, as the crisis takes a toll on many businesses, and already has pushed some over the brink and into bankruptcy.
U.S. retailers could announce between 20,000 and 25,000 closures in 2020, according to a tracking by Coresight Research, with 55% to 60% of those situated in America’s malls. That would also mark a record — which was previously the more than 9,300 locations in 2019.
RSK: Some big numbers here and landlords will be scrambling to find new tenants or re purposes their properties. Values will fall even more.
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.
Two new surveys of people forced to go remote show productivity up, yet burnout close behind.
Two new surveys show that teams forced into remote work during the pandemic are split on whether they want to continue working remotely going forward. However, in those same surveys, many business leaders responsible for the bottom line are planning to make remote work permanent....more
Whereby, a company that provides video collaboration, surveyed 1,500 British professionals who began working from home following stay-at-home orders....
RSK: I still do not think the need for office space will shrink that much. Employees will need more separation between each other hence even if some workers work remotely; those who are not will require more space. Interesting to see how this plays out...
High Point Office Park is an 11-building, 217,418 square foot office park located in one of Madison, Wisconsin’s finest western locations.
Macy’s sounded a confident note in its preliminary sales and earnings results for the first quarter as COVID-19 restrictions loosen and customers start to return to its stores.
As of June 1, the department store giant had reopened approximately 450 locations, with the majority reopened in their full format. The stores are performing better than anticipated, according to Macy’s chairman and CEO Jeff Gennette, who also said the retailer receiving positive feedback on its curbside pickup service and its efforts to create a safe shopping environment....
RSK: Some good news or is it just that people have been bored being shut down at home with Covid fears and just wanted to get out?
The effects of the pandemic are being applied unevenly across property types, geographies, tenancy, and other influences.
When the commercial real estate market is in turmoil, valuations are needed. And when the market is stable, valuations are needed. Either way, a professional valuation is not guided by a magic crystal ball—the process is both art and science....more
North Texas had been humming along thanks to an 11-year long bull run. The region was leading the country in job growth. The prospects for relocating companies to the area from out of state fueled a seemingly ever-robust office market. Businesses saw record profits and income close to historical highs at the end of 2019. Meanwhile, the DFW real estate market paced the country in multifamily and industrial construction. That all came to an abrupt stop with COVID-19...
RSK: There will be some interesting appraisals to say the least until the Covid subsides and the protest unrest resolves itself.
Heather Ewing - 608.239.4781 - Heather@ABSTRACT-CRE.com
The economic downturn prompted by the viral outbreak put a huge dent in millennials’ savings, which will make it harder to gather the resources to purchase a home
Millennials may not be as vulnerable to serious health complications from COVID-19 as other generations, but they will still feel the effects pandemic’s economic fallout, according to a new report from Realtor.com...more
The rapid rise in unemployment and broader economic downturn prompted by the coronavirus outbreak has forced millions of Americans to dip into their savings to cover routine expenses. But while the coronavirus-fueled economic slump happened quickly, it will take a long time to recoup those funds...
RSK: If both people are working I believe many lenders would find a way for a couple or duo to purchase a home.
Great turnkey business opportunity in Sun Prairie! Charming coffee bar/restaurant/gift shop, in business for 10 years. Seats 52 and includes drive up window. All equipment, inventory, merchandise, recipes and training included. Seller financing available! Co-listed with Barbara St John 608-320-1240
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.
A third of America’s malls are going to shut permanently by 2021, according to one former department store executive, as their demise is accelerated due to the coronavirus pandemic.
“The mall has been losing ground for a long time, now it’s losing ground faster,” said Jan Kniffen, a current retail consultant and former exec at The May Department Stores, which was eventually folded into Macy’s.
RSK: Malls need to re-purpose....all that land and buildings can be used for other purposes such as housing, medical etc.
Ken Notes: I would add destination retail, dining and recreation to the mix...
?In the context of the coronavirus pandemic, this report assesses the outlook for physical retail in the US over the remainder of 2020.
We discuss the following key topics:
Click here to read the original US Store Closures 2020 Outlook, published on March 24, 2020.
Click here to read Coresight Research’s ongoing coverage of the coronavirus pandemic, and visit our Coronavirus Tracker for more information on temporary store closures and key developments.
RSK: This is really a tragedy since most of the closures will be small retailers and ma and pop businesses. Covid isn`t the only reason I am sure.
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 firstname.lastname@example.org.
24th Commercial Brokers Group Golf Outing
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.
KENT, Wash. — After months of being embattled over its response to the coronavirus, Amazon is working to convince the public that its workplaces — specifically, the warehouses where it stores everything from toys to hand sanitizer — are safe during the pandemic.
The giant internet retailer has started running television ads that show that its warehouse and delivery employees have masks and other protective gear. It has pushed out segments to local news stations touting its safety improvements. It has asked journalists to visit its warehouses to see for themselves.
RSK: If you ever have a chance to visit an Amazon warehouse operation do so....it is amazing!
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....
The medical office and traditional office will align in several ways going forward, says Cushman & Wakefield`s Healthcare Advisory Group executive director.
Imagine the last time you went to the doctor. You likely rode up an elevator and sat in a lobby or waiting room, elbow-to-elbow with other patients. You probably filled out paperwork, either with a pen and paper or maybe a touch screen device. Unless you were sick, you probably didn’t wear a mask.
The next time you go to the doctor, the experience is likely to be quite different. As a result of COVID-19, how medical office space—and office space in general—is used is going to change.
RSK: This is so true...why are we put in close contact with other sick people? Never made sense to me. You can register on line or with your phone and they can text you when it is time to come in.
Best practices for safely resuming office occupancy have far-reaching implications for new leases and renewals.
As businesses nationwide pursue phased reopening, a key issue for commercial real estate owners and managers is how to safely resume the use of office space. The Centers for Disease Control added significantly to the conversation late last month by producing an exhaustive list of guidelines for employers, building owners and property managers....more
Highlights of CDC’s recommendations include ensuring that HVAC systems are working properly; bringing in fresh air where possible; implementing employee screening, social distancing and other administrative controls; and rearranging workstations, reception areas, and meeting or break rooms to promote the separation of employees...
RSK: Until we have a vaccine or herd immunity, things will be very different in office buildings...but people will slowly drift back and probably want more space between co-workers. Work from home will increase. Elevators will be the problem.
With the largest Real Estate Practice of any law firm in Wisconsin, Reinhart offers clients custom-tailored real estate insight.
Armando Codina is an unhappy New Yorker. So unhappy, in fact, he created a website about it to find more like minds. Now, no longer alone, he is a very happy Floridian.
“New Yorkers used to come to Florida to buy a second home. Now they are coming down here to live,” he says.
It’s simple, really. Money. You can save more money in Florida...
RSK: Where people congregate so do their problems. I guess the "money sucking midtown high rises" are losing the battle after covid. I still think it is an NYC thing.
Former Pier 1 Imports space available on an end cap facing East Washington Ave. Excellent visibility, great signage. Available in 60 days.
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.
Governments forced many non-essential businesses to close to help slow the spread of the COVID-19 outbreak, including fitness centers. That caused significant financial strain for many gyms. Because of that, several are turning toward bankruptcy to help ease their financial burdens. Gold`s Gym has already filed, while 24 Hour Fitness is preparing to do so.
One of the financial weights that fitness centers are hoping to lift in bankruptcy is their lease obligations. That`s already starting to have a significant impact on commercial real estate companies that lease space to these fitness center operators......more
RSK: I know my health club (small locally owned) is nowhere near back to normal...no showers, outdoor classes indoor ones have maybe 5 people and try to do a workout inside with a mask...almost impossible. You go in and maybe 5 people in the whole place...including workers. They have even cut their monthly dues in half which I will gladly pay to help keep them afloat. For the large chains...it may be a bit tougher.
7,530 sf 3 tenant shopping center on University Avenue at the Entry of Middleton`s busy retail strip. One 1,600 sf vacant space available for owner occupant. Other Tenants have been there for many years. $690,000. Marty Rifken; 608-575-9562...more
Bankruptcy looms over some retailers who paid zero percent in May
About 40 percent of national retail chains once again skimped on their rent in May, according to the latest monthly report on collection rates....more
Among those are 24 Hour Fitness, AMC Theaters and Pier One, all of which have either announced potential bankruptcy or plans to liquidate assets...
RSK: This is going to be a problem and many will take advantage of it.
Prime Middleton Industrial Park Office/Warehouse space available NOW. 9,000 sq ft 6,000 warehouse, 3,000 quality office space, loading dock and drive-in overhead doors Signage on Hwy 14 and 18 parking spaces. Mezzanine is a bonus $8.50 sq ft NNN call for appt today...more
Former Firehouse Sub location, new building, underground parking for businesses, 40 surface parking stalls for clients. Very visible from University Avenue, lots of signage available. Multi-family units 2nd through 5th floor - customers built right in....more
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
Bay Area diners may be excited by the news that San Francisco restaurants can finally reopen for outdoor dining Friday — but most restaurants won’t be ready right away, and many won’t bother at all.
Jamie Boatner was excited to hear San Francisco would allow restaurants like his Hazel Southern Bar & Kitchen in Mid-Market to take over the sidewalk and parking spaces as part of its Shared Spaces program. But once he stood outside and looked around, he realized it wasn’t going to happen.
RSK: This is sad in more ways than one...but for now it will be the new normal in some areas.
3002 square feet flex space with 1752 square feet of
office/showroom, 1250 square feet of warehouse with 10` x 12` drive-in
1 "West Side Story" cry
6 Offspring: Abbr.
10 So-so grades
14 Suffix with diet
15 ___ cake (apply frosting)
16 Hardly handsome
RSK: This week’s crossword courtesy of the Morning Brew.
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).
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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:
"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
Our focus is your focus, our goals are your goals.
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 email@example.com...more
Keller Real Estate Group Understands Local Business Real Estate Needs
130 S. Pinckney St.Madison, WI
Hours Wednesday - Sunday 4:30PM - 9:00PM