CirexNews - CRE and Investment News

This Weeks Articles...

  1. Industrial Still Going Strong
  2. Flex Office Company Mindspace Locks Down $72M For Expansion In U.S., Overseas
  3. Why Companies Should Consider the ‘Hubquarters’ Model
  4. Casual dining restaurants didn’t just find their footing after a brutal 2020 — they’re also finding a new identity
  5. Inside the rise of `antiwork,` a worker`s strike that wants to turn the labor shortage into a new American Dream
  6. Work From Home Works Until You Need Time Off
  7. One retail sector that’s far from dead today? The ghost kitchen and the ghost franchise
  8. Contractors Raise Prices To Keep Up With Cost Increases, Especially To Build Warehouses: Up 13% In October
  9. Sears, Kmart could be facing their last holiday shopping season
  10. Forget reopening. The new COVID variant has `stay-at-home` stocks rebounding.
  11. building for lease 8 S. Carroll Street 8 S Carroll St, Madison, WI 53703
  12. Unprecedented Demand Fuels Record-Breaking Year For Chicago Big-Box Industrial
  13. More Investors Eye Grocery-Anchored Shopping Centers for Better Risk-Adjusted Returns
  14. building for lease THE BOULEVARD 3318 University Ave, Madison, WI
  15. building for lease 2960 Triverton Pike Dr Fitchburg, WI
  16. The trucker shortage is fueled by a misconception that the job is only for low-skilled people, who endure poor working conditions, says expert
  17. building for sale Former Pizza Hut 1424 US-51, Stoughton, WI 53589
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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...

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The death of the department store and the American middle class

The collapse of America’s middle class crushed department stores. Amazon and the pandemic are the final blows.

In a New Jersey suburb seven miles west of Midtown Manhattan, the American Dream is on shaky ground.

The Dream in question isn’t the mythological notion that upward social mobility is within reach for all hardworking Americans. It’s a $5 billion, 3 million-square-foot shopping and entertainment complex in East Rutherford featuring an indoor ski slope, an ice-skating rink, and a Nickelodeon-branded amusement park. The complex finally opened last fall, but it’s now facing huge new challenges...
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RSK: Long but good article. Half way through they discuss Madison, WI and possible redevelopment plans for East & West Towne Malls. We need to start looking at this for redevelopment which will include housing and Amazon, Walmart & Target pick-up points.

Ken Notes: I hope the middle class predictions are not true, but there is little doubt it will take an experience to bring people to any retail store.

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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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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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When dining outside isn’t really outside: Rethinking the safety of outdoor dining winter solutions

Yurts, tents and igloos are popular remedies for the cold weather outdoor dining conundrum, but their safety during the pandemic is complicated, experts say

As temperatures drop and COVID-19 rates keep rising, operators are coming up with creative ideas to avoid facing a complete shutdown, from filling parking lots with yurts or tents to buying fully enclosed private igloos and bubbles.

But just how safe are these winter dining solutions? The answer is complex and depends on how much air flow the seating area is getting, how often the outdoor dining space is sanitized and how far parties are spaced out.

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RSK: Creating the indoors outside is not the answer. You still need to circulate the air. Like a Teepee, with the vent on top and the flap to enter or a heater that takes the inside air and pushes it out bringing fresh air in. The real answer is to have a Covid test at the door that gives immediate results. Now that we have vaccines on the way how about investing in immediate testing to help open things up a bit. A 5 to 10 min results and if negative in you go.

Ken Notes: We Just need to remember, when this is over, to focus on local establishments that we devastated by the impact of Covid - McDonald`s will be OK so spend some change at a local vendor instead...

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building for lease - Verex Plaza - 150 E Gilman St, Madison, WI 53703

Lake Level Suite Available--Gorgeous Lake Vistas!

Class `A` office building located 3 blocks from the State Capitol Square on Lake Mendota. Offers expansive windows and 11-ft ceilings. Building features heated underground parking, lakefront terrace, lunch caf and new conference rooms. Lake level suite off adjacent to the caf & terrace is 5,348 RSF.


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Ken Notes: I loved the virtual tour of this space, really sets this space apart from the rest... Speaking of virtural tours has everyone seen the Madison Parade Of homes. This was very well done...

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Black Friday shopping in stores craters 52% during pandemic as e-commerce sales surge
Traffic at stores on Black Friday fell by 52.1% compared with last year, as Americans by and large eschewed heading to malls and queuing up in lines for shopping online, according to preliminary data from Sensormatic Solutions.

Key Points

  •     Traffic at stores on Black Friday fell by 52.1% compared with last year, according to preliminary data from Sensormatic Solutions.

  •     “Shoppers are spreading out their shopping throughout the holiday season because of concerns about social distancing and the pandemic,” said Brian Field.

  •     Online spending on Black Friday surged 21.6% to hit a new record, according to data from Adobe Analytics.
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RSK: It still will come down to the last mile crunch. Why don't mall stores become pick up spots for Amazon merchandise? You order from Amazon and it finds the closest store nearest you to go and pick it up. Just a thought. Of course stores would have to agree to Amazon's pricing but they would save on shipping...

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ABSTRACT Commercial Real Estate LLC






Heather Ewing - 608.239.4781 - Heather@ABSTRACT-CRE.com

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Diners Wait More Than Half a Day for First Bite of In-N-Out in Colorado

They must be really bored out in Colorado, because when the first two In-N-Out Burger locations opened in the state Friday, lines stretched more than 12 hours. Some diners said they waited 14.  

  • As Brew writer Jamie Wilde pointed out, the people in the back of the line might’ve gotten their Double-Double faster if they drove the 700+ miles to the In-N-Out location in Prescott, Arizona. 

The next day, the Aurora, CO, police dept. said traffic at the In-N-Out was "much improved." It was a breezy eight-hour wait at the drive-thru and an hour at the walk-up line. ..

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RSK: I have been to an In ‘n Out in CA. It is a good burger. Is it great? Hmmm. Is it worth an 8 to 12-hour wait..NO! Will we see one soon in our market...eventually possibly on campus to start. Also, I didn't realize they printed Bible verses in tiny print on all their packaging. Time to tone up on your Bible quotes.

Ken Notes: In `n Out is an experience with OK food. The most fun is to go with a local who knows how to order because none of the good stuff is on the menu. The Animal Style Fries are fun, and Ralph would love the Pup Patties, I miss my brother a true expert in the vocabulary...

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DECEMBER 2021 - 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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In Mass., mall to be replaced by distribution center
Greendale Mall in Worcester could serve as the poster child for COVID-19’s acceleration of online shopping and demand for merchandise fulfillment services.

The new owners of the 309,000-sq.-ft. mall that opened in 1987 on Neponset Street in Central Massachusetts’ largest city has filed plans to demolish it and replace it with a 121,212-sq.-ft. distribution center.

When it acquired Greendale last year for $7.1 million, Finard Properties had plans for building a new mixed-use project on the site. Now, however, increased demand for product fulfillment moved the new owner to submit an application for the DC to the Worcester Planning Board....
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RSK: This is much different than re-purposing a mall. This is buying a location and using demolishing to get the land. Then build from ground up. It must be cost-effective to do so but modern-day distribution most likely does not fit well into an existing mall structure.

Ken Notes: I am surprised zoning will allow this. I do believe Amazon will enter this market with a blended distribution / order pickup "store" as it looks for a way to sell larger products. They will need an existing retail store that owns its buildings and has national coverage like Whole Foods did for grocery. JCPenney??? Kohls???????

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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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Small-Business Owners, Here`s What You Need to Do to Reduce Your Taxes During Biden`s Presidency
Joe Biden will likely begin working on his promise to raise taxes in his first 100 days. So how can you plan now to reduce or avoid the proposed tax increases? Biden promised to avoid tax increases on anyone with less than $400,000 of income, so that amount becomes your new goal for taxable income when investing and tax planning, regardless of your actual income or cash flow.
  • Set up your business as an S corporation...
  • Consider reinvesting in your business or other tax-incentivized activities...
  • Develop a comprehensive tax strategy with a good CPA...
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RSK: Some good information here to save you tax dollars. Of course, consult your tax accountant or CPA.

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Building For Lease: The Monona Executive Bldg - 4915 Monona Dr Monona WI

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.

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Watch out Zillow, here comes CoStar

Data giant has spent $2B on resi platforms since 2014

The data giant’s $250 million purchase of Homesnap, announced Sunday, gives it a foothold in residential sales, where it will go head-to-head with Zillow, Realtor.com and others. Until now, CoStar’s focus was limited to rentals.

The deal brings CoStar’s bet on the residential sector to more than $2 billion, and represents a huge expansion opportunity for the data giant.

As CoStar CEO Andy Florance put it: “The estimated value of commercial real estate assets in the U.S. is $16 trillion.” By comparison, the residential sector has $27 trillion in assets. “With the new addition of clients and information … we are almost tripling the size of our addressable markets,” he said in a statement...

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RSK: Sometimes you just might get a bit too greedy. (Think of WeWork) Has anyone received a call from a Rep at CoStar lately or Loopnet? Maybe stick with what you are best at...not sure. Will be interesting to follow.

Ken Notes: With all sales beginning online these mega players can position themselves first in line for home searches, and then "sell" broker recommendations - We need to be very careful...

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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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Will E-Commerce Replace Physical Stores?
If COVID-19 has taught us anything, it’s how to pivot – and online retailers and e-commerce stores are no exception to this. As the world has had to rethink its public health policies, how it shops, and how people make a living, so have businesses quickly learned how to adjust.

But not all businesses have been able to adapt.

Today we are going to look at how e-commerce stores have grown and pushed to the forefront, while brick and mortar stores have also drastically transformed. Which of these two types of retailers will ultimately survive? Will the e-commerce stores replace physical stores?...
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RSK: They need each other. BOPIS is the word here. Buy Online, Pickup In-Store. It`s a win-win for both retailer and consumer.

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building for lease 4916 E Broadway Madison, WI 53716
Creative brick office building ideally situated along beltline (86,000 + VPD) in close proximity to I-90/94. Building includes reception area/lobby with stairway to the open second floor. Shared cafe with outdoor courtyard. Signage available. Multiple suites available, can be combined for larger requirements. Build out available on all suites. Carrier-neutral Data Center space available.
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CARW 2020 Events and Resources

CARW Holiday Party

December 1 @ 4:00 pm - 7:00 pm   


The CARW holiday party is back.  Join us for cocktails and hors d’oeuvres and holiday cheer on WEDNESDAY, December 1st.

Where:
Bradley Symphony Center
212 W Wisconsin Ave, Milwaukee, WI 53203

When:
Wednesday, December 1st, 2021
4:00-7:30 PM

Cost:
Members $25
Non-Members $75

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Ken Notes: Thank you Tracy Johnson President and CEO of CARW for keeping me in the loop.

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How Will Co-Living Survive the Pandemic?

The coronavirus drove vacancies up in co-living buildings, but companies are offering rent deals and flexible leases to bring demand back.

The core benefits of co-living took a big hit when the coronavirus struck New York City.

Instagram-friendly common rooms and co-working spaces sat empty last spring as residents complied with strict lockdown orders. Postage-stamp bedrooms became constant quarters. Tenants who had become accustomed to regular cleaning services suddenly had to disinfect on their own...
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RSK: I find this not to follow logic for some reason....maybe it is just NYC?

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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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What does ‘hybrid working’ mean for the CRE market?
What is hybrid working?

At its simplest, hybrid working means that some employees work from a central office and others work from home or at another location. But it may not be the same ones working in the office all the time, or the same ones outside the office. Every employee can, potentially, do some of both. McKinsey has a continuum of six distinct models ranging from ‘limited remote work, large HQ’ at one end of the spectrum to ‘mostly remote work, no office sites’ at the other.

Boston Consulting Group concurs. “At the corporate level, no single policy or programme is likely to fit all circumstances and combinations of remote and on-site work,” it says. “Employers must experiment with a range of solutions to address these diverse needs and concerns.”
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RSK: The Hub n Spoke method will help to keep suburban office parks full. The Hubs may be a bit smaller than the spokes...but there will be more spokes to even it all out in my mind. Will this save companies money on occupancy costs. If they rent most likely since downtown hub space is usually much more costly than suburban spokes would be.

Ken Notes: The key to any of this will be a working outcome based evaluation system.

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Commercial Brokers Group
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


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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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High Point Office Park

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High Point Office Park is an 11-building, 217,418 square foot office park located in one of Madison, Wisconsin’s finest western locations.

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Pandemic takes drastic toll on dry cleaners

In work-from-home era, 1 in 6 has closed or gone bankrupt

At J’s Cleaners, business had clawed up to 40 percent of pre-pandemic levels last month. But now, with Covid-19 soaring again, that number is expected to plummet.

“If this thing keeps dragging, many small businesses will close. Maybe I could be one of them,” owner Albert Lee, who plans to permanently shutter four of his 15 locations, told Bloomberg. He is losing $1,000 to $2,000 monthly per store....
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RSK: Is nothing sacred. Honestly, with people wearing sweats and casual clothes since the work from home, this isn`t unexpected.

Ken Noes: I`ll put in a "Thank You!" for the 35th annual Koats for Kids drive! Klinke is still generous in a very difficult time...

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building for lease N4365 WI-73 Columbus, WI 53925

Columbus - Industrial/Flex available near Hwy. 151

7,000 S/F of versatile industrial/flex space conveniently located on Highway 73, just a quarter-mile from Highway 151. Includes over 300 s/f of mezzanine office, breakroom, private bath, and wash-bay...

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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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Optical illusions don’t “trick the eye” nor “fool the brain”, nor reveal that “our brain sucks”, … but are fascinating!
They also teach us about our visual perception, and its limitations. My selection emphazises beauty and interactive experiments; I also attempt explanations of the underlying visual mechanisms where possible. This huge collection of non-scary optical illusions and fascinating visual phenomena emphasizes interactive exploration, beauty, and scientific explanation....   ...more

RSK: If you have some time on your hands this is absolutely outstanding!

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FoodFight Restaurant Group - WELCOME


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Building For Lease: 2000 Atwood Ave Madsion WI

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.

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building for Sale / lease 4245 W Beltline Hwy Madison, WI 53711
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...
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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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Building For Lease: 2017 Winnebago St Madison WI

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.

Also:

Building For Lease: 2015 Winnebago St 101 Madison WI

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Building For Lease: 1310 & 1320 Mendota St Madison WI

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...

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About CirexNews.com
Ralph Kamps
Editor CirexNews
608.345.2880

Ken Harwood
Publisher CirexNews
608.334.2174

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

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Professional Real Estate Management and Sales

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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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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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NAI Madison

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...

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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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Compass Properties

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Fiore Companies, Inc.






608-255-5060 or 608-255-8780  info@fiorecompanies.com
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Keller Real Estate Group

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Keller Real Estate Group Understands Local Business Real Estate Needs

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Eldorado Grill

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744 Williamson St.Madison, WI53704 608.280.9378 Hours Sunday - Thursday 4PM - 9PM Friday - Saturday 4PM - 10PM

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Johnny Delmonico`s


130 S. Pinckney St.Madison, WI
608.257.8325
Hours Wednesday - Sunday 4:30PM - 9:00PM


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