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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...
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 The city of Madison’s initial plans for the plazas at the
top of State Street feature tables, planters and programming aimed at
drawing more people to the area and addressing public safety concerns, Isthmus reports. The
design concepts come as Madison makes ongoing investments in
placemaking, a process that works to draw pedestrian traffic to
underused areas and create safe, shared spaces. In April
2024, city planners began a process to find uses for spaces that are
currently surrounded by redevelopment projects like the Wisconsin
Veterans Museum, the Wisconsin History Center and the Churchill
Building. For more than a decade, these spaces have seen increased
criminal activity compared to surrounding areas...
...Full Story Here
RSK: Might help some but that part of Mifflin rarely gets much sun nor foot traffic.
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 The Department of Workforce Development recently developed WisConomy, a new product/service that improves the way Labor Market Information (LMI) is shared and accessed. WisConomy is a new LMI web application that helps users with different experience levels explore, share, and analyze LMI data with its interactive tools. Users can access an integrated data query that can create LMI datasets; Tableau dashboards can be customized, saved, and shared; and career exploration tools can be accessed. WisConomy provides the ability for users to create an account allowing them to save their queries and dashboards. Users can also share them through multiple formats including email. WisConomy makes LMI data more accessible and easier to understand for job seekers and connects them to career exploration tools like DWD`s Skill Explorer. WisConomy can be found at WisConomy.com... New Features
Check out our interactive tools and reports
...And much more ...Full Story Here
RSK: Great website from DWD. Wisconsin is still below average for unemployment.
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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.
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 Despite office demand still recovering more than five years
since the pandemic, developers are considering the unthinkable in
the not-too-distant future: building a new office building without a
commitment from a tenant. Office vacancy across the U.S. hit a record-high 20.4% in the first quarter, according to Moody`s. But vacancy in prime buildings is less than 15%, according to CBRE. In two years, CBRE projects that rate will be cut nearly in half to 8.2% because of how little office construction has taken place since the pandemic and how coveted the top-quality buildings are. “Along with this insatiable demand that`s going into this very small cohort segment of the trophy product, it begins to make you realize that we`re going to run into a challenge,” CBRE Global Head of Occupier Research Julie Whelan said during a panel discussion at the National Association of Real Estate Editors convention in New Orleans last week. “Our best estimate is that by 2027, we`re effectively going to be out of prime trophy space,” she said. ...Full Story Here
RSK: I have a hunch they are right on...at least I am hoping so.
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 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
...Full Story Here
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 Amazon is escalating its battle to bring employees together. The tech giant is asking several thousand employees to relocate to specific locations to be closer to their teams, in some cases asking staffers to move across the country.
The rolling efforts are the latest move from CEO Andy Jassy to refocus the Amazon workforce, and this one comes just days after he wrote a memo to staff saying that artificial intelligence would shrink headcount at the firm.
The policy change will impact thousands of employees across several teams. The company had approximately 1.5 million employees at the end of 2024.
Amazon is rolling out the mandate in individual meetings and town halls rather than putting the requests in an email, sources at the company told Bloomberg, which first reported the news.
...Full Story Here
RSK: Certain industries are going to be prone to this such as Amazon, financial institutions etc. Will it contribute to more office vacancy? Probably unless the space is converted to data center needs.
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 Economic and geopolitical uncertainties are delaying some
restructuring plans, but only temporarily, as pressure to control
commercial real estate spending remains “as strong as ever,” the firm
says.Downsizing of office space has peaked, Cushman & Wakefield says, with return-to-office strategies accelerating demand for space despite uncertainty in the broader economy, according to a report it released Friday in conjunction with CoreNet Global.
Following years of footprint rationalization, pent-up demand for office space is now evident, with about an eighth of occupiers planning to expand their footprint, and average lease sizes growing 13% in the past two years, the firm said in a release. Cost continues to drive commercial real estate decisions, with pressure to reduce and control spending “remaining as strong as ever,” Cushman & Wakefield and CoreNet Global said in the report...
...Full Story Here
RSK: With AI coming on strong in the next year or two I have a feeling downsizing will remain for certain businesses for some time.
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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.
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 Apartment growth is shifting to
counties with lower population densities, according to the latest
National Association of Home Builders Home Building Geography Index for the first quarter of 2025, released earlier this month.
The market share of apartment
starts in large metro core counties continued a long-term downward
trend. In 2016, it was 45.1%. Since then, it has fallen 9.4 percentage
points to a 35.5% share, the lowest level since the HBGI’s inception... ...Full Story Here
RSK: A bit of a change in multifamily housing locations. Away from the core urban and out to the country. Most likely land costs and municipal restrictions causing this.
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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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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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 Rising temperatures and massive new data centers are providing a massive stress test for the US power grid.Before reading this, you’ll want to make sure all your devices are fully charged. Go ahead, we’ll wait.
Okay. This week’s epic heat dome has swallowed up much of the eastern half of the continental United States and is pushing the energy grid to the brink as buildings and homeowners everywhere crank up the air conditioning to stay cool. As a result: Spates of power blackouts across the country, ranging as far and wide as Queens, New York; northeast Ohio and Philadelphia, Pennsylvania. The US Department of Energy has even issued an emergency order to address and prevent potential electricity shortages in the entire southeast.
In other words, the changing climate is crunching US energy infrastructure...
RSK: Data Centers have exposed the US power grid as obsolete, which isn`t good for any CRE sector nor the private sector.
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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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 High vacancy rates have driven building owners to repurpose space, which
should help the U.S. office market’s recovery. But high costs and
incompatible structural designs remain challenges, CBRE says.Office conversions are becoming more popular across the U.S. as building owners work to repurpose vacant space amid record-high vacancies and cities seek to address housing shortages, Yardi said in its June 2025 National Office Report on Wednesday.
The average national vacancy rate remained high in May at 19.4%, down 30 basis points from April but up 160 basis points year over year, according to Yardi Matrix data...
...Full Story Here
RSK: Office conversions and demolitions have helped to lower office vacancy rates....but the cost of conversions remains high.
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 A new term has emerged in the energy world: virtual power plant. No, this isn’t some new simulation game where players get to build and run their own generation site. Virtual power plants (VPPs) are digitally controlled networks of decentralized energy resources. They are able to understand the total energy supply and demand of a building and weigh that against the needs of the local energy grid. Virtual power plants use a cloud-based control platform to forecast, schedule, and dispatch energy to help meet the needs of both the building and the grid. They can also optimize on-site energy use and production based on the time-of-use rate of energy and the current needs of the grid. If you described a virtual power plant to someone in the property industry, they would probably call it a microgrid. But virtual power plants differ from microgrids in a few important ways. Microgrids are usually created for one fixed location, like a large development or a campus of buildings. One of the defining characteristics of a microgrid is that it can create an “island” that operates off-grid if needed. To do this, microgrids rely on hardware like inverters and switches... ...Full Story Here
RSK: This is a welcome outlook on energy management. Not all energy is the same. Energy being produced by individuals and companies from solar and wind and pumped into the overall grid is oftentimes not compatible with the system. VPPs can help manage this problem for industries and power companies alike.
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 Colliers|Wisconsin is expanding its Madison, Wisconsin, office with the addition Jesse Schluter. (see article above)Colliers| Wisconsin offers clients in the Wisconsin market, expertise in every property type. Wisconsin’s Colliers office offers a comprehensive portfolio of real estate services to occupiers, owners and investors on a local, regional, national and international basis, including: Brokerage Services, Corporate Solutions, Property Management and Valuation & Advisory Services. Colliers is the third-largest commercial real estate services company in the world, with over 12,300 professionals operating out of more than 522 offices in 62 countries.
...Full Story Here
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 U.S. hotel room demand and revenue per available room made an about-face for the week of June 15-21 with both measures increasing following three weeks of decline. In similar fashion, TSA screenings over the past week also posted a year-over-year increase following three weeks of declines. Some of this turnabout stems from a later end date for U.S. schools reported by STR’s School Break Report. Demand increases were even more pronounced in the northern part of the country where summer breaks tend to start later. This further highlights the impact school calendars have on hotel performance trends. Additionally, the movement of the Juneteenth holiday from Wednesday in 2024 to Thursday this year made for easy comps early in the week and for a stronger weekend. U.S. hotel RevPAR for the week advanced 3.3%, the result of average daily rate up 2% and occupancy rising 0.9 percentage points. This was the first weekly occupancy increase since early May...
...Full Story Here
RSK: With the hot summer the Hotels and water parks in Wisconsin Dells are humming, bringing tourist dollars to all businesses.
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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.
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 Vermont’s Northeast Kingdom, just across the border from Quebec, has long depended on French-Canadian tourists to help drive its economy. But once-bustling cross-border tourist traffic has slowed to a crawl in the months since President Donald Trump imposed new tariffs and floated the idea of annexing Canada. The fallout is prompting a wave of trip cancellations, leaving hotels, restaurants and entertainment venues scrambling to make up for lost business at the start of what was already setting up to be a less-than-favorable summer season...
...Full Story Here
RSK: If you have a good place, well run at a reasonable price, they will be back.
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 2025 Cindy Strange Memorial
Golf Outing
Monday, July 14, 2025
(10:00 AM - 6:00 PM) (CDT)
...Full Story Here
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 The industrial real estate sector, once considered a stronghold in
commercial property, is now grappling with refinancing challenges.
Despite high occupancy rates and robust demand for logistics and
warehouse spaces, landlords are facing difficulties due to rising
interest rates and tightened lending standards. The surge in borrowing
costs has eroded the financial cushion that many industrial property
owners once relied upon, making refinancing a more arduous task. In an unexpected twist, Fortress Investment Group may miss a July?15 payment deadline on a roughly $2?billion bond
tied to industrial properties—the majority leased to Amazon. Though
these assets operate in a high?demand segment of commercial real estate,
Fortress has been unable to secure refinancing on this substantial debt
load, signaling stress even in e?commerce–backed portfolios...
...Full Story Here
RSK: Even if you have the best AAA tenants such as Amazon, lenders have tightened refinance standards. But, I hardly believe any of them want to take back the properties.
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8 S Carroll St
Madison, WI
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6230 University Ave
Middleton, WI |
114 E Main St, Waunakee, WI
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822 E Washington Ave
Madison, WI |
Aventine
1958 Atwood Ave, Madison, WI
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Market No. 5
841 W Verona Ave, Verona, WI
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313 E Johnson St, Madison, WI
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401 Charmany Dr
Madison, WI
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...Full Story Here
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 Food Fight Gift Cards...
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
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 Question: The listing agent has a
seller who is a foreign national. He owns a vacant lot that he would
like to sell. The listing agent is unsure of the verbiage that should
be used in the listing contract to document that the seller will be
subject to FIRPTA withholding. Where can the listing agent find some
general information on this? Answer: Real estate agents are no longer
required or encouraged to provide the documentation for FIRPTA
compliance. Given changes to the WB offers, the seller will complete
the certification no later than closing, which means the title
company or some other entity or person serving as the qualified
substitute will likely have the seller execute the certificate at
closing. Ideally this will allow the seller to complete the
certification along with the other closing documents the seller
executes with the title company for closing. The offer provides that if the seller
is a non-foreign person, the seller provides a sworn non-foreign
status certification no later than closing. The certification may be
delivered to the buyer or a qualified substitute. If the seller works
with the title company as a qualified substitute, the title company
should provide the buyer with a statement confirming the title
company’s receipt of the document. The title company may provide
this to the buyer along with any other closing documents. The real
estate firm is not required to obtain or maintain copies of the
FIRPTA certification forms. Additionally, the Vacant Land
Disclosure Report (VLDR) asks whether the owner of the property is a
foreign person as defined by the Internal Revenue Code. As such, the
seller may use the VLDR to disclose that FIRPTA may apply. Item F10 on the VLDR provides: “Is the owner a foreign person, as
defined in 26 USC 1445 (f)? (E.g. a nonresident alien individual,
foreign corporation, foreign partnership, foreign trust, or foreign
estate.) Section 1445 of the Internal Revenue
Code (26 USC 1445), also known as the Foreign Investment In Real
Property Tax Act or FIRPTA, provides that a transferee (buyer) of a
U.S. real property interest must be notified in writing and must
withhold tax if the transferor (seller) is a foreign person, unless
an exception under FIRPTA applies to the transfer.” The WRA-VLD Vacant Land Disclosure
Report can be found at Transactions (zipForm edition) and the WRA
Forms Library.
...Full Story Here
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ABSTRACT Commercial Real Estate LLC
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The Gialamas Company, Inc.
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Artis Reit
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Key Commercial Real Estate, LLC
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Madison Commercial Real Estate LLC
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St. John Properties
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IA Management, LLC
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Wisconsin Commercial Real Estate
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Park Towne Realty LLC
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Mullins Group, LLC
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Flad Development & Investment Corp.
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Evans Properties, LLC
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Keller Real Estate Group
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MIG Commercial Real Estate, LLC
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First Weber Group, Inc - West Towne
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Opitz Realty, Inc.
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First Weber Group, Inc - Prairie Du Sac
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Peterson Management Company Inc.
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The Lenhart Company, Inc
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Scott Faust & Associates
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Shamrock Real Estate Services, LLC
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Targa, Inc
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Stark Commercial - East
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Urban Land Interests
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Slinde Realty Company
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Berkshire Hathaway Home Services Matson Real Estate
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Artisan Graham Real Estate
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...Full Story Here
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 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
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