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Cirex News is emailed weekly to over 2,000 CRE Brokers/Agents and people interested in commercial real estate. Email Ralph or call 608-345-2880 to feature your business or properties in CirexNews...

Each 26.2 mile race is really over 500 miles with training. On this path, I encounter the aspects of myself where I feel strong, powerful and those where I feel I am crawling. We have all been there! The beauty is that in each moment, training run, race prep and the big day itself, I get to consciously choose how I will feel.

Triumphant.

The Boston Marathon is the World`s Oldest Annual Marathon. It`s both a mental and physical marathon over the months and especially as it nears. Keeping yourself relaxed and "in check" is crucial.

There were various check points throughout the process to make your way to the start line. We were one of about 20 buses that took a 1-hour ride (on the highway) to drop us off at the start line. It`s intimidating. You need to set your mindset from the start to then run 26.2 miles to the finish on Boylston.

Crossing the finish line in Boston has never been more challenging and rewarding. Years ago, my sister-in-law, Ruth, and good friend Petra Kilian saw something in me that I had not yet realized.

We all have a gift, a spark and through it, dreams are awakened. For me, this was Boston. It materialized in 2019 and I`ve worked hard to get here. Over the years, I`ve adjusted my nutrition, post-run habits, and how I frame it (training when you don`t want to). It truly is a journey and the actual marathon itself takes you across a new finish line in life. It closes the loop with celebration. The entire process is held deeply in my mind, body, spirit.

The same is true of commercial realestate. A simple conversation led to the proverbial knocking on door, I took action and the right door opened. Again, utilizing a disciplined approach and consistency led to an elevated way of showing up for myself and others, adjusting and adopting new beliefs, habits, and creating a platform to Live Fully while in service of others.

A final gratitude to my Sponsors for your belief in Dreams Materialized: myVA Rocks, Underground Printing, AGH & Associates, LINK, ABSTRACT Commercial Real Estate, Angus-Young, Cirex/Madsion Commercial Real Estate and Supreme Structures Inc.

Which marathon is next? More to come....
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Ken Notes: So impressive, I want a broker that can literally run a marathon...

219 E Main St, Mount Horeb, WI	5955 McKee Rd, Fitchburg, WI	640 University Ave Madison, WI	704 Williamson St Madison, WI
5955 McKee Rd, Fitchburg, WI	638 University Ave Madison, WI

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A Madison developer is proposing a roughly $40 million, 12-story housing and commercial project — with condominiums — on a big chunk of the 100 block of State Street that’s largely been a vacant eyesore for the better part of a decade.

JD McCormick Properties is proposing to redevelop five buildings from 118 to 132 State St. that were emptied by other owners in the mid-2010s in anticipation of constructing a nine-story boutique hotel that stalled amid financial challenges in 2019.

In 2022, McCormick acquired buildings from 122 to 132 State on the block next to Capitol Square and kitty-corner from Overture Center. The developer is negotiating to buy 118 State St.
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RSK: This would be a welcome development in my estimation...plus there is a need for more condominiums downtown. This would help clean upm that corner of State and Mifflin Street.

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Madison Lifestyle Office Portfolio comprises 14 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.

Oak Bank founder recognized by Wisconsin Banking Association

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RSK: Oak Bank has been a good source of funds for the Commmercial Real Estate Industry in our metro marklet.

8150 Excelsior Dr Madison, WI	8040 Excelsior Dr Madison, WI	1289 Deming Way Madison, WI
8025 Excelsior Dr Madison, WI	8030 Excelsior Dr Madison, WI	1200 John Q Hammons Dr Madison, WI	1241 John Q Hammons Dr Madison, WI

1255 Fourier Dr Madison, WI

8000 Excelsior Dr Madison, WI

918 Deming Way Madison, WI

8020 Excelsior Dr Madison, WI

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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.

While the U.S. economy remains resilient, the commercial real estate market’s performance during the first month of 2024 shows a nuanced landscape with sector–specific challenges and opportunities. The normalization of hybrid working arrangements continues to negatively impact office demand, increasing the market`s unoccupied office spaces. However, the fundamentals of the multifamily, retail, and industrial sectors remain robust, indicating a varied performance across the CRE market.

Below is a summary of the performance across various commercial real estate sectors at the outset of 2024.
Multifamily Properties

Commercial Real Estate Market Insights

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RSK: The oocie sector still struggling...all others holding the own.

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Whole Foods Market is going small with a new concept for dense metro areas.

The natural and organic foods grocer is launching a “quick-shop” store format that’s designed to provide customers in urban neighborhoods a quick and convenient shopping experience. Dubbed “Whole Foods Market Daily Shop,” the stores will range between 7,000 sq. ft. to 14,000 sq. ft., which is about a quarter to half the footprint of an average 40,000-sq.-ft. Whole Foods location...

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RSK: I could see one of these close to UW Campus or even in a mall for that matter.

Ken Notes: It is not just size, Aldi`s and Trader Joe`s have created a grocery "experience" and it is a winning formula.

Good Schools,
Good Neighborhoods:
a critical conversation
about fair housing

Description

Join RASCW and Own It: Building Black Wealth for a transformative seminar that redefines the conventional understanding of Fair Housing. 

Designed for real estate professionals seeking to deepen their understanding beyond surface-level discussions, this seminar offers a unique exploration of Fair Housing through the lens of how history has shaped the current day disparities in homeownership and generational wealth and offers ways we can do better now. 

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4901 Eastpark Blvd	2323 Crossroads Dr	2310 Crossroads Dr	2418 Crossroads Dr
5201 Eastpark Blvd Madison, WI	5325 Wall St Madison, WI	2128 City View Dr Madison, WI	5310 Wall St Madison, WI
2801 Crossroads Dr Madison, WI		5315 Wall St Madison, WI

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One area of expertise for Investors Associated is first class property management. To keep our properties running smoothly, we focus on the little things with the big picture in mind. Our team is comprised of a group of individuals that oversees the day-to-day operations such tenant retention, lease negotiations and property maintenance costs. Bottom line, if you’re not happy, we’re not happy! Check out our properties today and see why you should lease with us.

Organizations need to ‘earn the commute’ and show there is value in physical work spaces

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RSK: One way to earn the commute is child and pet day care in or nearby the work location.

CARW Wisconsin
Retail Conference

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

2 E Mifflin St Madison, WI	22 E Mifflin St Madison, WI	152 W Johnson St Madison, WI	1400 E Washington Ave, Madison, WI
10 W Mifflin St Madison, WI

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Hybrid work specialist IWG has reported a slightly larger pretax loss for 2023 despite its highest-ever revenues and restarting dividend payouts.

The flexible office provider`s pretax losses from continuing operations widened to £189M for the year, up from a deficit of £105M the previous year, according to its preliminary results. The loss was related to one-off costs from closing locations and write-offs to do with a telephone system.

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RSK: Almost an advertorial but showing the trend of hybrid workspace is still a viable option.

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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

The White House is launching new efforts to help build more residential units and lower housing costs.

The new actions from the Biden-Harris administration aim to boost supply and affordability of manufactured homes and promote a more transparent rental market, according to a press release.

"President Biden believes that every American deserves access to a quality and affordable home," the release says. "His Administration is pursuing an all-of-government approach to build more housing and lower housing costs."...
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RSK: So, are we talking trailer parks here?

6504 Ronald Reagan Ave, Madison, WI	Madison East Business Center 4602 S Biltmore Ln, Madison, WI	4602 S Biltmore Ln Madison, WI

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One year after Amazon began moving thousands of employees into its second headquarters in Northern Virginia, the company is welcoming two big new neighbors.

A pair of 300-foot-tall apartment towers, The Grace and Reva, began moving in residents last month. Developed by Amazon partner JBG Smith, the buildings exemplify the real estate investment trust`s push to go all-in on Arlington`s National Landing neighborhood and double down on its residential portfolio.
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RSK: Talk about being in the right place at the right time...next to a new Amazon HQ? Perfect timing as Amazon is requiring employees to be in the office at least 3 days per week and maybe 4.

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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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RSK: Good for Austin...more cities need to do this to facilitate housing.

75 Gasser Rd Wisconsin Dells, WI	4711 Farwell St McFarland, WI	808 Industry Rd Sauk City, WI	426 Gammon Pl Madison, WI

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RSK: Demand for industrial will remain resilient but muted according to this report.

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Vestiges of the pandemic continue to grip the office market, and four years later, hopes are fading for a return to normal. In a state where higher-than-average vacancy rates are accepted as the cost of doing business — and build, build, build is the norm — a Texas-sized threat now looms over three of its largest metros.

The Lone Star State’s economy was one of the first to reopen after the onset of the pandemic, and its leaders were quick to trumpet a big comeback a year later. Office occupancy rates rose swiftly, and the state continued its streak of piling up corporate relocations.

But the self-proclaimed leader of the return-to-work movement is now staring down some of the emptiest office buildings in the country. Houston, Dallas and Austin are the first-, second- and third-most-vacant office markets among the nation’s largest 50 metros, according to Moody’s Analytics...
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RSK: Milwaukee has the 5th highest Office Vacancy Rate, but I believe that is changing.

Gift cards can be redeemed at all of our restaurants for dine-in visits or call-in carryout orders, and they never expire   ...Full Story Here

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RSK: Is it just me or every time a Democratic run city has problems they raise taxes....i.e. Chicago, NYC, LA, DC, Madison etc...

building for lease Active 2415 N Pleasant View Rd Middleton, WI 53562	building for lease Active 316 W Washington Ave Madison, WI 53703
land for sale Active 4703 Terminal Dr McFarland, WI 53558	Building for sale Active 732 Lois Dr Sun Prairie, WI

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New tenants are taking over former WeWorks as the coworking company`s bankruptcy proceedings accelerate a trend of move-outs that began in 2020 after its failed IPO in 2019.

Since 2016, WeWork has vacated 8.9M SF of office space across the country, according to an analysis by CoStar. Of that, about 3M has been re-leased, often to coworking competitors.

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RSK: Well...that leaves 2/3 empty...not good but a start. Just keep Adam out of it.

ABSTRACT Commercial Real Estate LLC	The Gialamas Company, Inc.	Artis Reit	Key Commercial Real Estate, LLC
Madison Commercial Real Estate LLC	St. John Properties	IA Management, LLC	Wisconsin Commercial Real Estate
Park Towne Realty LLC	Mullins Group, LLC	Crown Commercial	Flad Development & Investment Corp.
Evans Properties, LLC	Keller Real Estate Group		MIG Commercial Real Estate, LLC
First Weber Group, Inc - West Towne	Opitz Realty, Inc.	First Weber Group, Inc - Prairie Du Sac	Peterson Management Company Inc.
The Lenhart Company, Inc	Scott Faust & Associates	Shamrock Real Estate Services, LLC	Slinde Realty Company
Executive Management, Inc	Stark Commercial - East	Urban Land Interests	Artisan Graham Real Estate
Assist-2-Sell/Pohlkamp & Associates	Berkshire Hathaway Home Services Matson Real Estate

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