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CirexNews - CRE and Investment News | ||||||||||||||||||||||||||||||||||||
This Week - Notes - Search - Index - Share ...Full Story HereRalph Kamps Editor CirexNews 608.345.2880 Ken Harwood Publisher CirexNews 608.334.2174 November Lease Asking RatesThis Weeks Articles for 11/5/2024 ...
New Listings
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... | ||||||||||||||||||||||||||||||||||||
The 50 Greatest Commercial Real Estate Books of All Time | ||||||||||||||||||||||||||||||||||||
Propmodo`s list of must-read books—curated by industry experts—reveals the essential reads that every commercial real estate professional should have on their shelfThere has long been a noticeable gap in the availability of books that thoroughly explore the complexities of the commercial real estate industry. While other sectors may offer a wealth of literature, commercial real estate often lacks a broad range of resources that professionals can rely on. Yet, the industry is filled with experts who have accumulated invaluable knowledge, and a number of key books stand out for their impact and influence. To shed light on these must-reads, we reached out to dozens of prominent figures across the commercial real estate sector and asked them to submit their top picks for the greatest books related to the industry... RSK: Check your bookshelf for the ones you missed... | ||||||||||||||||||||||||||||||||||||
The Gialamas Company, Inc. | ||||||||||||||||||||||||||||||||||||
See All Listings Here......Full Story Here The Gialamas Company`s premier development. The park has over 57 buildings containing 200+ companies, occupying over 3.0 million square feet. | ||||||||||||||||||||||||||||||||||||
`Create A Magnet, Not A Mandate`: Companies Look To New Amenities To Drive Office Workers Back | ||||||||||||||||||||||||||||||||||||
With many employees still preferring hybrid work environments more than four years after the pandemic started, companies are leaning on innovative amenities and fresh locations to make the office more of a destination for their workers. Companies that invest in their office spaces to create that destination that workers feel compelled rather than obligated to come to are having the most success, CBRE Vice Chairman Josh White said Wednesday at Bisnow`s Future of DFW Office event, held at Spectrum Center in Addison. Whether it’s having their coffee waiting when an employee walks through the door or ordering groceries to be picked up on the way out at the end of the day, Gensler Design Director Justin Bashaw said there is now technology that companies can use to make those things a reality... RSK: Hmm...the #1 amenity for people was child care on premise or close by. But I do understand these others as well. | ||||||||||||||||||||||||||||||||||||
ABSTRACT Commercial Real Estate LLC | ||||||||||||||||||||||||||||||||||||
See All Listings Here......Full Story Here | ||||||||||||||||||||||||||||||||||||
College Students Are Taking Developers Back To School On How To Design Apartments | ||||||||||||||||||||||||||||||||||||
The pandemic years were tough ones for universities and developers of student housing as closures and restrictions kept many learning remotely, taking gap years or just waiting it out at home. Over the past several years, though, the worm has turned: Student housing rents are on a robust upswing that hit an average 9% nationally this past fall. That’s great news for developers able to meet new student demand for flexible design, high-end perks and sustainability. And according to panelists at Bisnow’s Philadelphia Student Housing and Higher Ed Development, getting it right today can pay dividends tomorrow... RSK: In the case of shared common areas look no further than the Regent Apartments. with their shared living room and kitchen but private bedroom and bathrooms. Way ahead of its time. | ||||||||||||||||||||||||||||||||||||
ARTIS REIT / Madison Lifestyle Office Portfolio | ||||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||
LicensE User Guides and Videos | ||||||||||||||||||||||||||||||||||||
LicensE is your online, self-guided occupational license application platform for Health, Business, Trades, Manufactured Homes, and Unarmed Combat Sports credentials and permits. All applications for licensure and permits must be made through LicensE. ?Go to license.wi.gov to apply for a license. ?Please refer to the LicensE Applicant User Guide for assistance. Other helpful Data: LicensE User Guides and Videos page LicensE FAQs? LicensE Customer Information page Step-by-step instructions for renewing a license here? ?Third-Party Resources... ...Full Story Here RSK: Time for all of us people who hold a real estate license in the State of Wis to renew. Make sure your Continuing Ed is complete for 2023-24. | ||||||||||||||||||||||||||||||||||||
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 608-345-2880Warehouse / Office Building for SaleCommercial Space for Lease – PortageFully Leased Commercial Building for Sale | ||||||||||||||||||||||||||||||||||||
Vermilion Development to Develop 309-Unit Lock Lane Apartments in Madison, Wisconsin | ||||||||||||||||||||||||||||||||||||
MADISON, WIS. — Vermilion Development will develop Lock Lane Apartments, a 309-unit project located on an 8.5-acre site in Madison. McShane Construction Co. will construct the property. Potter Lawson is the project architect. JLL arranged equity capital through Quartz Lake Capital and Clarion Partners. CIBC is providing construction financing. Lock Lane Apartments will consist of two five-story buildings that house 289 apartments, as well as three two-story townhome buildings with 20 units. The property will also include a two-level parking garage. Planned amenities include green roof areas, fitness centers, clubrooms, coworking spaces, conference rooms, community gardens and a fenced dog run... ...Full Story Here RSK: Just in case you missed the news. | ||||||||||||||||||||||||||||||||||||
Commercial Brokers Group | ||||||||||||||||||||||||||||||||||||
Construction begins on new River Food Pantry facility in Madison | ||||||||||||||||||||||||||||||||||||
MADISON, Wis. (WMTV) - The River Food Pantry is building a new beginning as it has started construction on a new facility. After raising more than $11 million, organizers say the new building with be more than 32,000 square feet which is triple the size of the current warehouse. “The River has needed more space since I joined the organization over a decade ago,” Rhonda Adams, Executive Director of The River, said. “With demand at an all-time high in 2024, this expansion cannot come soon enough. We thank all our supporters for helping to make our dream home come true.” The new space will also include an all-electric commercial kitchen, storage areas and a drive thru... RSK: Congrats to all who helped out... | ||||||||||||||||||||||||||||||||||||
Reinhart | ||||||||||||||||||||||||||||||||||||
With the largest Real Estate Practice of any law firm in Wisconsin, Reinhart offers clients custom-tailored real estate insight. | ||||||||||||||||||||||||||||||||||||
‘A Hurricane`s Coming’: The AI Boom Is Making It Harder To Build Data Centers Quickly | ||||||||||||||||||||||||||||||||||||
The rapid pace of innovation in artificial intelligence is making it harder for developers and contractors to build new data centers as fast as their Big Tech customers demand. In a data center industry where speed to market is critically important amid unprecedented demand, builders were already struggling with yearslong supply chain and labor constraints that made costly delays difficult to avoid. Now, AI is making the situation much worse. With the computing infrastructure supporting AI evolving at a breakneck pace and tenants constantly shifting their AI adoption road maps, fundamental elements of a data center’s design are changing during development, throwing carefully orchestrated logistics into chaos... RSK: It isn`t all construction problems and logistics but also finding the power to supply these data centers since AI uses so much of it. | ||||||||||||||||||||||||||||||||||||
CARW 2023 Events and Resources | ||||||||||||||||||||||||||||||||||||
CARW Happy Hour – Ope BrewingNovember 21 @ 8:00 am - 5:00 pmJoin 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: When: Cost: Ken Notes: Thank you Tracy Johnson President and CEO of CARW for keeping me in the loop. | ||||||||||||||||||||||||||||||||||||
Von Maur’s Remarkable Makeover | ||||||||||||||||||||||||||||||||||||
Von Maur embarks on a $100 million renovation plan to redefine its department stores for a new generation — and reinvest in the 152-year-old company’s signature customer service.Von Maur is a classic American department store, currently embarking on an extensive, multi-phased renovation of its nearly 40 brick-and-mortar locations over the next five years. The 152-year-old retailer will invest more than $100 million to showcase an entirely new interior aesthetic, with renovations underway in Wichita, Kansas; Fort Wayne, Indiana; Omaha, Nebraska; Livonia, Michigan; Louisville, Kentucky; Overland Park, Kansas; and Forsyth, Illinois. But that’s not all — Dry Goods, a Von Maur subsidiary launched in 2010, will open five new stores this year, including its first in Delaware, New Jersey and Virginia. Once these new stores are open, Dry Goods will have 84 locations in 24 states. Shopping Center Business recently interviewed Melody Wright, chief operating officer of Von Maur, to see what’s next for the incomparable, ever-evolving, high-end department store known for its dedication to quality over quantity — and to the customer experience — for more than 150 years. ...Full Story Here RSK: Since they moved into the old Boston Store Space at West Towne a few years ago, you can catch a glimpse of what the remodels will look like there. | ||||||||||||||||||||||||||||||||||||
Knight Barry Title Group | ||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||
Mullins Group LLC | ||||||||||||||||||||||||||||||||||||
See All Listings here... | ||||||||||||||||||||||||||||||||||||
‘People Aren’t Traveling The Way They Used To’: Hotel Industry Seeks New Normal As Leisure Travel Slows | ||||||||||||||||||||||||||||||||||||
Leisure travel was the first to recover from coronavirus lockdowns, surging well above 2019 levels as cooped-up consumers rushed to spread their wings and fly literally anywhere else. Now, though, leisure travel is normalizing, corporate and group travel have yet to catch up to prepandemic levels and demand in the U.S. hotel market is cooling faster than some expected... RSK: The lodging industry has to find a way to book more people in the high travel times. One idea is to have bunk beds in some of the rooms... | ||||||||||||||||||||||||||||||||||||
St. John Properties | ||||||||||||||||||||||||||||||||||||
See All Listings Here......Full Story Here | ||||||||||||||||||||||||||||||||||||
What if Architects Could Replicate Historic Buildings? | ||||||||||||||||||||||||||||||||||||
Architizer`s 13th A+Awards features a suite of sustainability-focused categories that recognizing designers that are building a green industry — and a better future. Start your entry to receive global recognition for your work! Architectural heritage has always been romanticized. Large conservation sites, cultural landmarks and even smaller historic buildings offer a gateway to the past, which admittedly cannot be reproduced through contemporary architecture. Mass production, quick and cheap construction and the need to cope with urban expansion and population growth have removed one key ingredient that heritage structures have: craftsmanship. Handcrafted elements, the attention to detail, and the slow process of constructing these buildings and sites have almost entirely faded in today’s (on-demand) architectural practice... RSK: What if for sure. | ||||||||||||||||||||||||||||||||||||
Wisconsin Commercial Real Estate | ||||||||||||||||||||||||||||||||||||
See All Listings Here......Full Story Here | ||||||||||||||||||||||||||||||||||||
Tech Giants, Developers And Utilities Team Up On `Flexible` Data Center Projects | ||||||||||||||||||||||||||||||||||||
A new consortium of the largest players in the data center and power sectors plans to build a series of “test hubs” across the U.S. to turn data centers from a threat to regional power grids into a tool for strengthening them. An unprecedented wave of electricity demand from data centers is straining regional power grids, slowing the pace of new data center development, creating financial and reliability problems for utilities, and limiting the adoption of renewable energy. RSK: The demand for power for data centers is just going to keep accelerating especially with the growth on speed of computing chips. Small nuclear generators may help in the short run but there must be some answer on the computer end to manage the demand. Also, location to the power source will be critical. As in all real estate...location is the key. | ||||||||||||||||||||||||||||||||||||
Investors Associated | ||||||||||||||||||||||||||||||||||||
See All Listings Here......Full Story HereOne 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. | ||||||||||||||||||||||||||||||||||||
Wendy’s announces it will close down 140 locations as CEO blames downfall on ‘outdated’ areas | ||||||||||||||||||||||||||||||||||||
A POPULAR restaurant chain is poised to shut down 140 outdated stores in under-performing areas in a bid to strengthen profit forecasts. Wendy’s CEO Kirk Tanner revealed in an earnings call on Thursday that the chain would shut over 100 stores across the country this quarter. The restaurant closures will be offset by new restaurant openings, making net unit growth about flat according to the company’s CFO Gunther Plosch. RSK: Under performing stores mostly. Should be a few prime locations available. Most expansion will be outside of the US. | ||||||||||||||||||||||||||||||||||||
RASCW Events | ||||||||||||||||||||||||||||||||||||
Tax Reduction Strategies for the Real Estate ProfessionalWednesday, November 13, 2024 (9:30 AM - 12:00 PM) (CST)Description...Full Story Here | ||||||||||||||||||||||||||||||||||||
Hopes Fade For Another Extra-Large Rate Cut At Federal Reserve`s Next Meeting | ||||||||||||||||||||||||||||||||||||
After the Federal Reserve lowered interest rates for the first time since 2020 at its last meeting with a 50-point cut, its follow-up is looking likelier to be more muted. Economic activity has remained resilient despite ongoing fears over a possible recession, with 98.9% of Fed watchers predicting the Federal Open Market Committee will cut the benchmark interest rate by 25 basis points on Nov. 7, from the current 4.75%-5% range to 4.50%-4.75%, according to CME Group’s FedWatch tool. That would follow the 50-basis-point cut the Fed enacted in September, which prompted a wave of optimism in the embattled commercial real estate sector. Some, including J.P. Morgan, predicted at the time that there would be another 50-point cut in November... RSK: I have to agree with them but with this caveat....the election may change this. | ||||||||||||||||||||||||||||||||||||
Park Towne Realty LLC | ||||||||||||||||||||||||||||||||||||
See All Listings Here... | ||||||||||||||||||||||||||||||||||||
TGI Fridays` closings could make some prime real estate available in tight retail market | ||||||||||||||||||||||||||||||||||||
Fast-casual restaurant chain TGI Fridays Inc. has closed about 50 of its U.S. locations in the past week as the nation`s dining industry grapples with inflation and customers trimming their spending. The Dallas-based chain`s number of eateries has diminished on its website`s restaurant locator from 213 about a week ago to 163 locations as of Tuesday. Fridays had 270 U.S. locations at the beginning of 2024 when the company announced plans to close 36 "underperforming" locations and sell eight of its corporate-owned restaurants to former CEO Ray Blanchette as it streamlined operations... See Also: TGI Fridays files for Chapter 11 bankruptcyRSK: Good prime locations which may help them get out of Bankruptcy. I think you are going to see more and more fast casual chains going down this route. The pandemic and inflation along with employee shortages has taken a disastrous tole. | ||||||||||||||||||||||||||||||||||||
Amazon opens more warehouses to speed up deliveries, cut costs | ||||||||||||||||||||||||||||||||||||
E-commerce giant launches 3.4 million-square-foot warehouse in Louisiana as firm spreads out across the USAmazon, one of the world`s largest users of industrial real estate, is opening more fulfillment and delivery centers as the online retailer looks to further cuts transportation costs and speed up shipments during the upcoming holiday shopping season. The Seattle-based e-commerce giant opened 15 fulfillment centers and made "hundreds of changes to our U.S. inbound network" in recent months, CEO Andy Jassy told investors during the company’s earnings call on Thursday. The expansion comes as Amazon reported a $15.3 billion profit in the third quarter... RSK: I believe the facility in Cottage Grove, WI is one of these....and there will be more. The only problem is the local continuous traffic generated by on going 24/7 trucking. | ||||||||||||||||||||||||||||||||||||
Key Commercial Real Estate, LLC | ||||||||||||||||||||||||||||||||||||
See All Listings Here... | ||||||||||||||||||||||||||||||||||||
Food Fight | ||||||||||||||||||||||||||||||||||||
HOLIDAY GIFT CARD SALE 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... | ||||||||||||||||||||||||||||||||||||
Properties for Lease or for Sale By Company | ||||||||||||||||||||||||||||||||||||
Hovde & Hovde, IncBetty Thompson Realty | ||||||||||||||||||||||||||||||||||||
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 |