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CirexNews - CRE and Investment News | ||||||||||||||||||||||||||||||||||||
![]() This Week - Notes - Search - Index - Share ...Full Story Here![]() Ralph Kamps Editor CirexNews 608.345.2880 Ken Harwood Publisher CirexNews 608.334.2174 JULY 2025 Lease Asking RatesThis Weeks Articles for 7/22/2025 ...
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... ![]() | ||||||||||||||||||||||||||||||||||||
Welcome To Halftime: 40 CRE Execs Talk Tariffs, Delays — And A Year That Hasn`t Gone To Plan | ||||||||||||||||||||||||||||||||||||
Back in January, the pregame talk echoed with bravado. Fifty-six industry titans had just told us that once the U.S. presidential election dust settled, interest rates would drift lower, capital would unfreeze and 2025 would be the year to thrive. Six months, 166 executive orders, a flurry of ever-changing tariffs, frozen interest rates and one big, beautiful bill later, the mood has clearly shifted. Everyone knows who to thank — or blame. The tariff roller coaster and ensuing economic uncertainty have replaced election anxiety as the nagging headline, interest-rate cuts are still a mirage, and the bid-ask gap has barely blinked. .. RSK: Good snapshot on what the thoughts of CRE practitioners are at halftime in 2025. ![]() | ||||||||||||||||||||||||||||||||||||
ABSTRACT Commercial Real Estate LLC | ||||||||||||||||||||||||||||||||||||
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How Madison is paying to convert urban farmland to affordable housing | ||||||||||||||||||||||||||||||||||||
![]() Twenty-five acres of farmland on Madison’s east side may soon become more than 1,000 new units of housing, including 20% for high-demand, affordable housing. But fulfilling those plans could rely on an unusual, tax-funded deal brokered this year by the property’s developer and city leaders. The city has essentially agreed to designate the Milwaukee Street property a special tax district and then buy part of the property with increased taxes generated by its development. While most of the property could turn into market-rate homes, the city’s part would be reserved for affordable units... ...Full Story Here RSK: That site has been up for development for quite some time. Good to see some progress starting to take shape. ![]() | ||||||||||||||||||||||||||||||||||||
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. ![]() | ||||||||||||||||||||||||||||||||||||
The Majority Of Fortune 100 Companies Now Mandate Full-Time Office Return | ||||||||||||||||||||||||||||||||||||
This shift is reshaping the commercial real estate landscape. Office occupancy climbed 1.3% year-over-year in April and May, and the demand for high-end office space is surging. JLL reports that trophy buildings in markets like Miami, NYC, and San Francisco are achieving record-breaking rents, with newly constructed office space averaging $92.38 per square foot. Vacancy rates remain high, though, over 22% nationally, prompting a wave of conversions and demolitions that shrank the U.S. office inventory by 700,000 square feet last quarter... RSK: I wouldn`t rule out hybrid work just yet, but it will take a lesser role. ![]() | ||||||||||||||||||||||||||||||||||||
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 608-345-2880Bakers Place | ||||||||||||||||||||||||||||||||||||
U.S. Office Sales Jump Nearly 70% As Investors Focus On Trophy Assets | ||||||||||||||||||||||||||||||||||||
![]() Trophy assets in bustling U.S. markets have become an increasingly hot commodity as investment in the office sector surges nationwide. Office sales grew 69% nationwide over the last four quarters compared to the year prior, according to a new report from Avison Young. Of the $40.8B worth of offices that changed hands, 71% were trophy or Class-A spaces.Much of that activity came in the fourth quarter, which had more than $15B of transactions, up from about $8B in Q4 2023. The increase in sales has been especially sharp in the California markets. Los Angeles and San Francisco saw $3.5B and $1.7B of sales, respectively, in the last four quarters, which represented increases of 147% and 140% from the prior year... RSK: Some investors are going all out for trophy office properties but the majority of office sales are still owner occupied. ![]() | ||||||||||||||||||||||||||||||||||||
Commercial Brokers Group | ||||||||||||||||||||||||||||||||||||
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Has The Data Center Craze Created a New Bubble? | ||||||||||||||||||||||||||||||||||||
RSK: It just might be a tad overheated. Plus, many municipalities are not keen on permitting for data centers and the huge electric power draw on the grid is still is a problem. ![]() | ||||||||||||||||||||||||||||||||||||
The Gialamas Company, Inc. | ||||||||||||||||||||||||||||||||||||
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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. ![]() | ||||||||||||||||||||||||||||||||||||
US tech companies renew push to own their office real estate | ||||||||||||||||||||||||||||||||||||
![]() Apple, Bet365 bolster sales volume as tenants eschew leases for big-ticket purchases Global tech companies` interest in expanding their national office footprints appears to have turned a post-pandemic corner. From Silicon Valley to New York, some of the biggest names in the industry have renewed a push to operate as their own landlords as opposed to leasing space in buildings, closing some of the largest purchases so far since the pandemic and adding to the rebounding momentum for the United States office market. Companies such as Apple, LinkedIn, Amazon and San Francisco-based financial technology firm LendingClub have in recent months collectively closed roughly $1 billion in deals, often taking advantage of the stressed office market by scooping up properties that otherwise may have been out of their financial reach... RSK: Tech companies are going the same way as office users...owning their real estate instead of leasing ![]() | ||||||||||||||||||||||||||||||||||||
CARW 2025 Events and Resources | ||||||||||||||||||||||||||||||||||||
Ken Notes: Thank you Tracy Johnson President and CEO of CARW for keeping me in the loop. ![]() | ||||||||||||||||||||||||||||||||||||
2025 Construction Perspective | ||||||||||||||||||||||||||||||||||||
How is the construction industry faring in 2025 and how has the outlook changed? JLL`s 2025 Construction Perspective U.S. Midyear Update examines how CRE stakeholders are moving their decision making beyond reactivity, how project-specific risks are being assessed, and how we’re preparing for local impacts of national policy. The report analyzes construction spending, material costs and changes in the construction labor force. It provides essential insights for navigating a period of extensive uncertainty. ...Full Story Here RSK: JLL midyear synopsis on construction costs and labor....not looking pretty. ![]() | ||||||||||||||||||||||||||||||||||||
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 ![]() | ||||||||||||||||||||||||||||||||||||
DOE to drop accessibility requirement for buildings receiving federal funds | ||||||||||||||||||||||||||||||||||||
![]() The U.S. Energy Department calls a decades-old accessibility provision redundant in a rule rescission taking effect soon.New and existing buildings receiving funds from the U.S. Department of Energy won’t have to meet accessibility requirements starting Sept. 12 in a fast-tracked rule rescission that has alarmed disability-rights advocates. The agency on May 16 used what’s known as a direct final rule to announce it’s rescinding a rule that’s been on the books since the 1970s requiring any building receiving federal funds, whether for new construction or undergoing renovation, to be made accessible... ...Full Story Here RSK: I would still think smart operators would have some assesabitly in their construction...it would put them heads above those that do not. Thoughts on this? ![]() | ||||||||||||||||||||||||||||||||||||
Reinhart | ||||||||||||||||||||||||||||||||||||
With the largest Real Estate Practice of any law firm in Wisconsin, Reinhart offers clients custom-tailored real estate insight. ![]() | ||||||||||||||||||||||||||||||||||||
Why AI Will Finish The Office Sector Transformation The Pandemic Started | ||||||||||||||||||||||||||||||||||||
![]() AI’s integration into daily workflows is pushing more occupiers into smaller, higher-quality space with a focus on collaborative environments, the same trends that have defined postpandemic office demand. The dynamic is accelerating the bifurcation of the office market as occupiers adopt a leaner operating model and adapt to a more discerning workforce... RSK: The future trend people. If your kids are going to college make sure they get a useful degree and not just political science or sociology or underwater basket weaving. The workforce is changing. ![]() | ||||||||||||||||||||||||||||||||||||
Park Towne Realty LLC | ||||||||||||||||||||||||||||||||||||
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City of Madison, UW-Madison Update Neighborhood Indicators Project Data | ||||||||||||||||||||||||||||||||||||
The NIP is a partnership between the City of Madison and the UW-Madison Applied Population Lab. The project aims to track dozens of quality of life metrics over time to provide a better understanding of trends across Madison. The data is provided for free online for everyone to access... The 2024 NIP update includes several new metrics, including:
RSK: Worth a read. You can probably draw your own conclusions from the data. It does help to show the need in some areas....but just throwing money at something as discussed will not change much of the conclusions. ![]() | ||||||||||||||||||||||||||||||||||||
Colliers|Wisconsin | ||||||||||||||||||||||||||||||||||||
![]() ![]() 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.
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Starbucks orders some employees to relocate to headquarters, targets remote work | ||||||||||||||||||||||||||||||||||||
![]() Starbucks is mandating the return of some remote workers to its headquarters and increasing the number of days that corporate employees must work in an office, the Associated Press reports. The Seattle-based company is among many reevaluating their work-from-home policies, which rose in popularity during the COVID-19 pandemic. Brian Niccol, Starbucks chairman and CEO, said today in a letter to employees that corporate workers would be required to be in the office four days per week beginning in early October. That’s up from the current requirement of three days per week. It also said that all corporate “people leaders” must be based in either Seattle or Toronto within 12 months — a change from February, when it required the same only from vice presidents. While individual employees working under those leaders would not need to relocate, all hiring for future roles and lateral moves will require the workers to be based in Seattle or Toronto... ...Full Story Here RSK: The "Back To The Office" (BTTO) continues. Good news for the office sector and those services and shops surrounding those office hubs. ![]() | ||||||||||||||||||||||||||||||||||||
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. ![]() | ||||||||||||||||||||||||||||||||||||
Madison Common Council Approves Housing Proposals | ||||||||||||||||||||||||||||||||||||
![]() Tonight, the Madison Common Council unanimously approved three proposals designed to make it easier to build a range of homes, increase flexibility for homeownership, and make it easier to permit small and mid-sized buildings downtown. “I want to thank my colleagues on the Common Council for collaborating on these sensible efforts to provide more housing options for Madison residents and for the community support for these proposals. By simplifying our processes and enacting forward-thinking policies, we are ensuring that everyone in our city can live and thrive in the neighborhood of their choosing,” said Mayor Satya Rhodes-Conway. “These are significant steps, but we need to continue making progress to increase housing choices in Madison. Working with the Council, we plan on introducing additional pro-housing policies this fall to continue our work on this important issue.” The proposals approved by the Common Council include:
...Full Story Here RSK: Every drop in the bucket adds up. ![]() | ||||||||||||||||||||||||||||||||||||
RASCW Events | ||||||||||||||||||||||||||||||||||||
![]() Bocce Ball & Backpacks Tournament Wednesday, August 20, 2025 (1:00 PM - 5:00 PM) (CDT) Get ready for our annual Bocce & Backpacks Tournament, held at the East Side Club in Madison! Join us for an afternoon of friendly competition, networking, and giving back to support foster care children in the RASCW area. ![]() | ||||||||||||||||||||||||||||||||||||
St. John Properties | ||||||||||||||||||||||||||||||||||||
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Vacant Retail Space On The Rise As Tariffs, Closures Leave A Mark | ||||||||||||||||||||||||||||||||||||
![]() Leasing has fallen 20% this year compared to this time in 2024, Cushman & Wakefield reports. Rising rent and design costs started the downward trend in activity last year, and now tariff and trade uncertainty is amplifying the pullback. Retailers are delaying decision-making until the clouds around ever-changing economic policy dissipate. ... RSK: Well located strip malls are still doing well. ![]() | ||||||||||||||||||||||||||||||||||||
Key Commercial Real Estate, LLC | ||||||||||||||||||||||||||||||||||||
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Food Fight | ||||||||||||||||||||||||||||||||||||
![]() 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... ![]() | ||||||||||||||||||||||||||||||||||||
Janesville hopes to attract data center proposals for abandoned GM site | ||||||||||||||||||||||||||||||||||||
![]() Several interested developers contacted city officials, other uses for the site are still in the pictureOnce, thousands of workers built tractors and trucks on the General Motors site in Janesville. Now, saplings grow among its concrete rubble. In the future, at least part of the site could host a very different user — a data center. Janesville Economic Development Director Jimsi Kuborn will ask the City Council on Monday to open a 30-day window for proposals from data center developers interested in the 240-acre site.. ...Full Story HereRSK: Well, if you first don`t succeed, try, try again. It does have some potential no question but maybe not a data center site... ![]() | ||||||||||||||||||||||||||||||||||||
Mullins Group LLC | ||||||||||||||||||||||||||||||||||||
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New Tax Law Makes Opportunity Zones Permanent, Helping Advisors Find Tax Breaks for Clients | ||||||||||||||||||||||||||||||||||||
![]() Among the many provisions in the massive One Big Beautiful Bill Act passed into law this month is the permanent extension of the Opportunity Zone program, along with some tweaks to how they work. Making the program permanent and allowing investors to participate on a five-year rolling basis should make it more attractive for financial advisors looking for tax breaks for their clients, since they will no longer have to worry about an upcoming sunset date. However, in the short term, the timing of the rollout of the updates will likely mean lower demand for OZ investments, industry insiders say... ...Full Story Here RSK: Some good news however, a lot of questions remain on implementation etc. Stay tuned on this one. ![]() | ||||||||||||||||||||||||||||||||||||
Properties for Lease or for Sale By Company | ||||||||||||||||||||||||||||||||||||
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Hovde & Hovde, Inc...Full Story Here ![]() | ||||||||||||||||||||||||||||||||||||
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![]() |