This Page Contains 4 Weeks Data - Click Here For This Week

CirexNews - CRE and Investment News
Click to View Online...


This Week - Notes - Search - Index - Share Menu

Ralph
Kamps
Editor CirexNews
608.345.2880
                Ken Harwood
Publisher CirexNews
608.334.2174

November Lease Asking Rates

This Weeks Articles for 11/19/2024 ...

  1. U.S. Industrial Market Outlook Report | Q3 2024...
  2. Amazon`s enormous Cottage Grove warehouse, long delayed, finally gets going ...
  3. Brokerage Firms Ride Leasing Comeback To Surprisingly Strong Quarter ...
  4. Midwest`s tight apartment supply pushes its annual rent growth well above the US average...
  5. Another data center proposed in southeast Wisconsin...
  6. A&W planning for restaurants in Madison and Milwaukee ...
  7. Industrial Vacancy Expected To Peak In Mid-2025 As Construction Drops 50% ...
  8. Microgrids Are Changing the Energy Game for More Property Owners...
  9. Despite RTO mandates, job hunters say they still seek flexible work ...
  10. Trump’s Policies Set To Ripple Through Global CRE...
  11. Retail REITs Expect Full Stockings This Holiday Season As Fears Of Consumer Pullback Dissipate ...
  12. Strong Office Conversion Pipeline Will Boost Business-Centric Downtowns ...
  13. Hotel Stock Index rises for third consecutive month...
  14. Why 7 Out Of 10 Industrial Lease Searches Are Coming Up Empty ...
  15. United States Retail Market Dynamics...
  16. What Trump’s energy plans could mean for commercial building operators ...

New Listings

Building for lease Active
621 Williamson St
Madison, WI 53703

Office/Retail space for lease in the Iconic Machinery Row building

Data Sheet


   ...Full Story Here

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...

Social Links


U.S. Industrial Market Outlook Report | Q3 2024


Industrial vacancy beginning to plateau as new supply falls

The U.S. average vacancy rate climbed by 19 basis points, to 6.6%, during the third quarter of 2024, the smallest quarterly increase since it began to rise in late 2022. New supply totaled 76 million SF, the lowest since early 2021, and 54% below the 163 million SF delivered during the third quarter last year. Demand as measured by net absorption totaled 39 million SF, bringing the year-to-date tally to 115 million SF. Quarterly construction completions will fall further over the next few quarters, when new supply and rebuilding tenant demand will approach equilibrium, and vacancy will peak in most markets and start to fall again.   ...Full Story Here

RSK: If you are in the industrial sector this report is a must read.

Social Links


The Gialamas Company, Inc.




1200 John Q Hammons Dr
Madison, WI

8040 Excelsior Dr
Madison, WI

1255 Fourier Dr
Madison, WI

8000 Excelsior Dr
Madison, WI

8025 Excelsior Dr
Madison, WI

8030 Excelsior Dr
Madison, WI

8020 Excelsior Dr
Madison, WI

1241 John Q Hammons Dr
Madison, WI

8150 Excelsior Dr
Madison, WI

1289 Deming Way
Madison, WI

918 Deming Way
Madison, WI

See All Listings Here...


   ...Full Story Here

For over 45 years, The Gialamas Company has brought real estate development, brokerage, leasing and building management expertise to the City of Madison and the State of Wisconsin.

Social Links


Amazon`s enormous Cottage Grove warehouse, long delayed, finally gets going


After two years of delay, construction has finally begun on an Amazon fulfillment center in Cottage Grove, heralding what local officials predicted would be an economic boon not only to the village but to the surrounding region.

The transformation of 145 acres of farmland off highway TT into a shipping hub that will span more than 3 million square feet is “one of the largest economic development attraction projects in Dane County history,” Jason Vangalis, an Amazon economic development manager, said at a groundbreaking event on Wednesday.

The ecommerce giant’s five-story warehouse, slated to open in late 2026, will create up to 1,500 jobs and contribute at least $245 million in taxable value — about a fifth of the village’s total tax base — by 2028, according to local officials...

   ...Full Story Here

RSK: That will be a boost to the Villiage`s tax base. Only concern will be the heavy truck traffic 24/7/365...

Social Links


ABSTRACT Commercial Real Estate LLC











219 E Main St,
Mount Horeb, WI

5955
5955 McKee Rd,
Fitchburg, WI
640
640 University Ave
Madison, WI


704 Williamson St
Madison, WI

5955 McKee Rd, Fitchburg,
WI
638
638 University Ave
Madison, WI



See All Listings Here...

   ...Full Story Here

Social Links


Brokerage Firms Ride Leasing Comeback To Surprisingly Strong Quarter


For brokers who thrive on the daily grind of chasing deals, the past few years have been tough to say the least.

Last year, while interest rates were rising and transactions were frozen, brokerage giants reported negative cash flows and were forced to make painful budget cuts. To stem losses, many stopped hiring or laid off employees.

But the past few months have seen a seismic shift.

   ...Full Story Here

RSK: Finally some good news thanks to retail, Industrial and even office leasing.

Social Links


ARTIS REIT / Madison Lifestyle Office Portfolio



See All Listings Here...

   ...Full Story Here
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.

Social Links


Midwest`s tight apartment supply pushes its annual rent growth well above the US average


Chicago’s historically tight vacancy and build rates should preserve its rent growth momentum into 2025

With historically low vacancy and less supply-side pressure than its peers across the country, Chicago’s multifamily market should maintain its standing on the asking-rent-growth leaderboard into 2025.

Likewise, the Midwest’s muted multifamily construction pipeline — especially compared with the Sun Belt markets — keeps its collective vacancy rate low and its year-over-year asking rent growth above the national norm...

   ...Full Story Here

RSK: If you throw the Madison Market in this you would see numbers off the chart...unless they are already included in the Milwaukee SMSA which I doubt.

Social Links


Madison Commercial Real Estate LLC



Need to sublet extra office space? 

Let our years of experience help you find relief from this excess space and help your bottom line" 

Call Ralph Kamps 608-345-2880


SEE ALL LISTINGS HERE




   ...Full Story Here

Social Links


Another data center proposed in southeast Wisconsin


Kenosha plan would include 4 data centers several miles from ongoing Microsoft project

Another large data center development could be coming to southeast Wisconsin.

The city of Kenosha’s plan commission will review a proposal from a developer for a four-building data center campus northwest of Interstate 94 and Highway 142 in Kenosha County. The site is about 6 miles south of a $3.3 billion Microsoft data center campus under construction in Mount Pleasant...

   ...Full Story Here

RSK: You knew it wouldn`t be long before someone took over the Foxconn land and what better than 4 data centers...Wisconsin and this location in SE Wisconsin has the power and the water to facilitate the centers.

Ken Notes: Of course when Russia looks for a US target.....

Social Links


Commercial Brokers Group


2024 Annual CBG/CCIM
Holiday Party

 December 11, 2024
    4pm-7pm
    Network222

   ...Full Story Here

Social Links


A&W planning for restaurants in Madison and Milwaukee


The A&W restaurant chain plans to expand the brand’s presence in Wisconsin through the Milwaukee and Madison markets with the help of existing and new franchisees.

On Thursday, the company said the brand plans to open two to four restaurants in Madison and three to five locations in Milwaukee in the next five years.

   ...Full Story Here

RSK: Have a good location or site for A&W I`d contact them.

Social Links


Reinhart



Milwaukee: 414.298.1000
Madison: 608.229.2200
Waukesha: 262.951.4500
   ...Full Story Here

With the largest Real Estate Practice of any law firm in Wisconsin, Reinhart offers clients custom-tailored real estate insight.

Social Links


Industrial Vacancy Expected To Peak In Mid-2025 As Construction Drops 50%


The industrial sector has struggled to regain confidence, but there may be a silver lining coming in 2025.

The vacancy rate in the U.S. industrial market rose to 6.6% in the third quarter of 2024, but it grew at the slowest pace since 2022, according to a report by Colliers. Although vacancy is expected to keep ticking up, Colliers projects it to peak in mid-2025 at about 6.8%, then start to decline.

Following the pandemic boom, the industry has struggled to keep up with the record pace of construction, but the pipeline has shrunk dramatically. 

After hitting a record 711M SF in 2022, total space under construction has dropped by 53%, now sitting at 331M SF, according to the report. New supply delivered in Q3 totaled 76M SF, 54% below the 163M SF that delivered in the same quarter last year...

   ...Full Story Here

RSK: This is very interesting....a slow down in construction but rates remain steady with a 2-7% increase. Tenants just are not inking leases at this time...but I am betting the new regime in the White House may change all that. BE A CONTRARIAN?

Social Links


CARW 2023 Events and Resources


CARW Happy Hour – Ope Brewing

November 21 @ 8:00 am - 5:00 pm

Join CARW for a Broker Happy Hour on November 21st!

Ope is a dog friendly establishment.  Feel free to bring your furry four legged friend as long as they are friendly!

Where:
Ope Brewery

When:
Thursday, November 21st, 2024
4:00 – 6:00 PM

Cost:
Free to Members
Non-Members $50

   ...Full Story Here

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

Social Links


Knight Barry Title Group



                       608-255-2700  www.KnightBarry.com
   ...Full Story Here
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

Social Links


Microgrids Are Changing the Energy Game for More Property Owners


Commercial property owners face many energy challenges today. The rising cost of energy is adding to the pain of high interest rates. Many cities across the country are starting to require buildings to report on energy usage, with some now levying fines for those that use more than their fare share. To add to all of this, extreme weather conditions and more frequent natural disasters are increasing the risk of power outages. As buildings strive for energy resilience and efficiency, there’s a critical need for solutions beyond traditional centralized power systems. That’s where microgrids come into play.

America’s aging energy infrastructure is buckling under the growing demand for cities and industries ramping up electrification efforts. Meanwhile, the voracious energy appetite of data centers is another factor pressuring power utilities. Utility expansion backlogs and increased extreme weather exacerbate price volatility and power disruptions, leading to an unprecedented microgrid market. Traditionally used to provide resilient energy where local grids are unreliable, microgrids are increasingly building a presence nationwide, even in urban settings.

A microgrid is essentially a localized power grid that can operate independently or in conjunction with the main grid....

   ...Full Story Here

RSK: Great idea about micro-grids....but solar will probably not be a good reliable source in the frozen tundra of Wisconsin or the upper Midwest.

Social Links


Mullins Group LLC




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



See All Listings here...



   ...Full Story Here

Social Links


Despite RTO mandates, job hunters say they still seek flexible work


While 59% of job seekers said they preferred “fully remote” roles, only 2% of job postings advertised such an arrangement, Flexa said.

Widespread return-to-office mandates aren’t discouraging job seekers from looking for flexible work, according to a report released Nov. 12 by Flexa, a remote and flexible job site.

The site saw the “highest number of flexible job hunters ever recorded” last quarter, it said in a statement announcing the data. The number of seekers looking specifically for flexible roles more than doubled in number from the previous quarter, Flexa said, with 22,014 job hunters signing up between July and September 2024...


   ...Full Story Here

RSK: I do think work can be done remotely...but collaboration and new ideas and methods cannot or at best a poor imitation of in person.

Social Links


St. John Properties





6504 Ronald Reagan Ave, Madison, WI


Madison East Business Center
4602 S Biltmore Ln, Madison, WI


4602 S Biltmore Ln
Madison, WI





See All Listings Here...

   ...Full Story Here

Social Links


Trump’s Policies Set To Ripple Through Global CRE


When the American economy sneezes, the world catches a cold.

When a new president gives it a boost via tax cuts and imposes tariffs on imports, real estate markets around the globe weigh the possibility of higher interest rates, altered investment flows and changing patterns of corporate occupation.

Real estate investors from the UK to China via the Middle East are trying to work out whether President-Elect Donald Trump’s policies will match his campaign rhetoric and to what degree America’s economy might suck in real estate investment from other markets while pushing up global inflation and instigating higher-for-longer interest rates...
   ...Full Story Here

RSK: Interesting article. Most of it saying that who really knows how markets and people will react. Time will tell.

Social Links


Wisconsin Commercial Real Estate




75 Gasser Rd
Wisconsin Dells, WI

4711 Farwell St
McFarland, WI

808 Industry Rd
Sauk City, WI

426 Gammon Pl
Madison, WI

See All Listings Here...

   ...Full Story Here

Social Links


Retail REITs Expect Full Stockings This Holiday Season As Fears Of Consumer Pullback Dissipate


Retail landlords could be in for a very happy holiday, with revenues and occupancies up, shopping center traffic on the rebound and consumers loosening the purse strings ahead of the most important shopping quarter of the year.

Many of the country’s largest publicly traded owners of retail real estate were optimistic enough to boost their full-year guidance in the third quarter, anticipating stronger earnings than previously expected and a better pay-off for investors to ring in the new year.

   ...Full Story Here

RSK: Retail remains a hot sector. Even though many have declared bankruptcy, its not the real estate but the product line...same with the restaurant groups that went down.

Social Links


Investors Associated



p1
4901 Eastpark Blvd

p2
2323 Crossroads Dr

p3
2310 Crossroads Dr

p4
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

See All Listings Here...

   ...Full Story Here
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.

Social Links


Strong Office Conversion Pipeline Will Boost Business-Centric Downtowns


Office conversions have had a banner year to date in 2024, with 73 of them already completed and another 30 scheduled for delivery by year-end—the most since CBRE began tracking conversion projects in 2016.

Much of this activity is being driven by historically high office vacancy rates and falling asset values, prompting public/private partnerships that are incentivizing conversions. The pipeline of office conversions is expected to grow as cities offer more incentives and sellers of troubled assets further discount prices, particularly for older buildings.

As of Q3 2024, 71 million sq. ft. or 1.7% of U.S. office inventory was planned for or already undergoing conversion. This is the same amount of conversion activity as in Q1 2024, despite the completion of 45 projects totaling 7 million sq. ft. since then—an indication that the conversion pipeline is replenishing as projects are finished.

   ...Full Story Here

RSK: I suppose you are thinking that the most successful conversions would be where other services for living such as grocery stores, health services etc, are located. But those retail and other services have a way of finding where people live. So if you convert, chances are these services will find you and locate you.

Social Links


RASCW Events


Tax Reduction Strategies for the Real Estate Professional

Wednesday, November 13, 2024 (9:30 AM - 12:00 PM) (CST)

Description


   ...Full Story Here

Social Links


Hotel Stock Index rises for third consecutive month


Public hotel brand companies set the tone for stock performance in October

Hotel brands continue to deliver strong results for the broader hotel industry based on the latest stock performance report.

The Baird Hotel Stock Index — which comprises 20 of the largest hotel brand companies and real estate investment trusts publicly traded on a U.S. stock exchange by market capitalization — rose 1.9% in October.

   ...Full Story Here

RSK: Most hotels are doing well but there are some bottom feeders.

Social Links


Park Towne Realty LLC




   ...Full Story Here

Social Links


Why 7 Out Of 10 Industrial Lease Searches Are Coming Up Empty


Industrial tenants are keeping commercial real estate brokers busy with property tours and lease negotiations. But in today’s market, only 30% of potential deals even have the possibility of turning into a signed lease, according to a JLL report.

An uncertain macroeconomic picture — and an incoming U.S. president who has promised to upend global trade policy — is partially to blame for the lackluster conversion rate. But industrial users are also shifting their logistics strategies, often opting to outsource rather than execute a lease...

   ...Full Story Here

RSK: Many industrial and warehouse users are letting third-party companies do their storage and distribution, making leases a bit of a problem.

Social Links


Key Commercial Real Estate, LLC


   ...Full Story Here

Social Links


United States Retail Market Dynamics


Retailers turn to second-generation space for expansion opportunities

Executive summary

• Net absorption remained positive for the 15th straight quarter, totaling 4.5 million square feet at the end of September. The availability rate remains tight, at 4.7% and vacancy has remained unchanged throughout 2024 at 4.1%.

• Retail construction costs have soared since the pandemic, thanks to surges in inflation, cost of capital, labor and material prices. While 5-year rent spreads are also up by double-digits, in many cities rent spreads are still trailing construction costs....

   ...Full Story Here

RSK: Not much retail development plus old leases renewing at much higher rates is a win for retail investors and owners for now.

Social Links


Food Fight


HOLIDAY GIFT CARD SALE
Buy $100 in gift cards & get a FREE $25 bonus card*

Offer runs November 1 - December 31st

Food Fight is a locally owned and operated restaurant group with an ever-growing family of unique and diverse restaurants in the greater Madison area. Founded in 1994 by Monty Schiro of Monty’s Blue Plate Diner and local real estate investor Peder Moren, Food Fight Restaurant Group combined their creative vision and business sense with a mission of providing the best possible service and experiences for the greater community.

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

Social Links


What Trump’s energy plans could mean for commercial building operators


Building operators using IRA tax incentives “will be talking with their senators and representatives to express the need to keep these in place,” a U.S. Green Building Council official said.

With President-elect Donald Trump set to take office and Republicans to gain control of the U.S. Senate in January, building owners and operators wonder whether the incoming administration’s emphasis on fossil fuels could stall recent progress in building energy efficiency and sustainability. 

While organizations like the U.S. Green Building Council have pushed for expanded tax credits for energy-efficient building retrofits, Trump’s Agenda 47 and the Heritage Foundation-led Project 2025 prioritize fossil fuel support, potentially at the expense of clean energy incentives...

   ...Full Story Here

RSK: Some of the Bidens energy policies actually made sense while most others set this country back and helped increase inflation. There has to be a middle of the road policy and not an all at once shift...we need to go into these things gradually. Somewhat like hybrid vehicles that run on gas and battery...not a paradigm shift to all electric at once....that creates push-back and disfavor...

Social Links


Properties for Lease or for Sale By Company



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

Targa, Inc

Executive Management, Inc



Stark Commercial - East

Urban Land Interests

Slinde Realty Company

Assist-2-Sell/Pohlkamp & Associates




Berkshire Hathaway Home Services Matson Real Estate


Artisan Graham Real Estate





Hovde & Hovde, Inc


   ...Full Story Here

Social Links


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
call 608-345-2880 for details...
   ...Full Story Here

Social Links


Start Week: 46 - Query String:SELECT * FROM cirex WHERE `issue` > 46 and volume = 24 OR `issue` > 90 ORDER BY sortorder