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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...

Schluter shared his career insights with In Business Madison this month.

What are the most challenging and rewarding parts of your job?

As a contingent fee business, time management is one of the most challenging aspects in commercial real estate brokerage. You can be super busy in this industry but not productive. Effective time management and a laser focus on high impact activities is critical. 

Commercial real estate is 100% a people business. The most rewarding part of being a broker is forming long-term relationships with clients and helping them grow their business or investment portfolio.

Who do you admire in business and why? 

Craig Culver. Craig and his family started Culver’s in 1984 and have grown the brand to over 1,000 restaurants throughout the country. I’ve been fortunate to represent Culver’s corporate and several Culver’s franchisees with site acquisitions over the years. They are a people-focused company from the top down and have experienced tremendous success yet maintain small town Wisconsin values. 

I sat in a meeting with Craig years ago and will never forget his advice: “Surround yourself with people that say please and thank you.”

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RSK: In case you missed it. Knowing Jesse for a long time , he is a true professional and outstanding person. Get to know him. Your life will be a bit richer in more ways than one.

Ken Notes: The answer to the last question must be, "Being the lead story in Cirex news!" congrats...

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

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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.

On Monday, Google announced in a blog post that it has signed demand response agreements with Indiana Michigan Power and Tennessee Valley Authority, major utilities that together serve more than 10 million customers across nine states.

Rather than simply consuming hundreds of megawatts of electricity, some Google data centers will now become “flexible loads” capable of curbing their power consumption on command when utilities determine that excessive demand is pushing the grid toward failure.

The hyperscale cloud provider will cut power when needed by curtailing machine learning workloads, a type of AI computing. Google has provided few details regarding the financial terms of the deal or the participating data centers, although Monday’s announcement specifically mentions the company’s $2B Project Zodiac development underway in Fort Wayne, Indiana.

Executives at Google and the utilities touted the demand response efforts as a critical tool that will expedite access to massive blocks of power for data center firms amid an AI-fueled building boom while helping mitigate increasingly dire reliability risks and rising costs for utilities...   ...Full Story Here

RSK: You will begin to see more and more of this. I`m almost certain the new data center near DeForest will use this method.

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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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RSK: Midwest still has rising prices but the rate of growth is falling. Same is happening in multifamily.....even with less construction in that sector, this means higher rents which will eventually make construction profitable.

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

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RSK: Hopefully the 3rd quarter which includes summer months, will show a much better outlook.

28th Commercial Brokers Group Scholarship Golf Outing
Monday, August 18, 202

Make your plans now to attend the 28th Commercial Brokers Group Scholarship Golf Outing on Monday, August 18, 2025 at Bishops Bay Country Club Golf Course, Middleton. This fun-filled afternoon will include 18 holes of golf, prizes, lunch, dinner and drink tickets. You can set up your own foursome or we’ll happily assign you to one. This year, we’re offering a new purchase option which includes a 4-some and hole sponsorship!

The Golf Package Includes:

• 18 holes of golf with cart
• Box Lunch and Dinner
• Beverage tickets
• Golf goodies
• Team prizes
• Hole prizes
• Great Networking and lots of fun!...

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Earnings Call Insights: Peakstone Realty Trust (PKST) Q2 2025

Management View

• Michael J. Escalante, CEO, highlighted ongoing advancement in the company’s transformation to an industrial REIT, with the industrial outdoor storage (IOS) subsector as a central focus. He stated, "We expanded our IOS portfolio with 2 acquisitions totaling approximately $52 million" and described a 27-acre Atlanta property and a 9.2-acre Port Charlotte, Florida, acquisition, both fully leased with long-term contracts and annual rent escalations. Escalante further emphasized, "We have increased our IOS ABR by over 25% since the beginning of the year."
• Office asset monetization has accelerated, with Escalante reporting, "Through quarter end, we sold 7 office properties for $158 million. Subsequent to quarter end, we closed on 2 additional sales...totaling $24 million, bringing our year-to-date office sales to 11 properties totaling $216 million."
• A noncash impairment of approximately $286 million was recognized, with Escalante explaining this reflects "shortened anticipated hold periods and updated expectations for sale pricing, consistent with our strategy to sell all of our office assets in the coming quarters."
• Javier F. Bitar, CFO, reported, "For the quarter ended June 30, total revenue was approximately $54 million and cash NOI was approximately $43 million. Net loss attributable to common shareholders was approximately $265 million or $7.22 per share, inclusive of noncash impairments of approximately $286 million recorded during the quarter."

Outlook

• Management reiterated its commitment to accelerating the shift to an industrial REIT. Escalante noted, "We`re reshaping the portfolio with intention, simplifying the platform, reallocating capital to higher-growth IOS opportunities and strengthening the balance sheet."...

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RSK: Just curious at what discount did they selll these offices and what price did they pay for the industrial and storge properties? Sounds like a major offload of office properties.

CARW Member Meet-Up with Jeff Collom (Matco) Broken Bat Brewing

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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

A burst of optimism rippled through the construction world last week when copper prices plunged nearly 22%.

President Donald Trump had just spared raw copper from tariffs, surprising markets that had been bracing for broader restrictions.

For a moment, real estate developers exhaled. Then came the fine print.

On Friday, the White House slapped a 50% tariff on finished copper goods — the pipes, wires and fittings critical to U.S. construction...   ...Full Story Here

RSK: Construction costs just became a bit more expensive. I`m still not sure how these tariffs will help the basic US consumer.

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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: Most of us are independent contractors in the CRE business. Watch this to make sure you cover all your bases with the IRS.

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Columbus - Known for being the home of The Ohio State University and the renowned COSI museum, Columbus serves as the “Buckeye” state capital and its cosmopolitan center. The city benefits from a robust, diversified economy with bustling neighborhoods, ranging from the Short North Arts District to the German Village. A combination of business, tourism, and higher education attracted over 51 million visitors during 2023, setting a record for the city.?

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RSK: Madison, though a much smaller market, has seen this same growth on a smaller scale. Why Columbus? The State is business friendly. Could it be that it is run by a conservative Governor and legislature? Hard to say.

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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Property sales for some footprints collapsed as fast casual formats grew, leaving landlords with few buyers and costly renovations

While brands like Texas Roadhouse and Olive Garden continue to thrive, many casual dining chains have halted expansion, closed stores or filed for bankruptcy, leaving a glut of former restaurant properties with few buyers.

Casual dining real estate is in a major slowdown, as property sale success rates have plummeted from 72% in 2021 to just 37% in 2024, according to data from Northmarq, a commercial real estate firm. This decline is primarily driven by fundamental mismatches between available properties and the changing needs of restaurants, which make it increasingly challenging to repurpose former casual dining locations.

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RSK: I can say from a first hands basis that this is so true.

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

The multifamily real estate sector sends mixed signals as we cross the halfway mark of 2025. Activity has slowed but not stopped, and market conditions are neither recessionary nor red-hot. It’s a year of recalibration, not retreat.

For developers, investors, and capital partners, this is a moment to reassess and not react impulsively but plan strategically for what comes next. While economic uncertainty and capital constraints persist, the long-term outlook for multifamily remains sound. The fundamentals haven’t changed, but the playbook has...

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RSK: Multi-family in a chill hold mainly waiting for interest rates to make a move.

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.   ...Full Story 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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Another housing developer is advancing plans to build apartments on land once used by the former Oscar Mayer plant.

The Annex Group, of Fishers, Indiana, would replace a vast parking lot and a small house and tavern at the intersection of Packers and Commercial avenues with a five-story building containing about 241 lower-cost units. It would be the company’s first project in Madison.

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RSK: Not sure what to say about this...I just they don`t load up on too much work force housing....you need a good mix to make this successful.

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The Borough Beer Co. & Kitchen, which opened in July 2022 on Park Street where Rockhound Brewing Company used to be, is closing.

“It’s with sad news that we share that The Borough will be closing,” read a post on the business’s Instagram Friday. “Thank you for all the support these past few years.”

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RSK: Something doesn`t add up here. You cannot get a brewery license if you own commercial real estate? If someone knows the real "rest of the story" please let me know.

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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Madhatter...
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RSK: Just a fun read. I know I`m dating myself but I worked at 2 of those fine establishments in my college days.

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

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Rare Downtown Investment Opportunity 115 W Washington Ave, Madison, WI

2865 SF Office for Lease | Downtown! 119 W Washington Ave, Madison, WI

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