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Ralph
Kamps
Editor CirexNews
608.345.2880
                Ken Harwood
Publisher CirexNews
608.334.2174

Lease Asking Rates March 2026

This Weeks Articles for 3/3/2026 ...

  1. Annexation throws curveball into Madison-McFarland border talks ...
  2. Surf Parks Are Entering Their First Real Test as Commercial Real Estate Assets...
  3. Moody`s: $662B In Data Center Leases Hidden From Big Tech Balance Sheets Poses Looming Risk ...
  4. REIT Earnings Halftime Report...
  5. Trump says the economy is `roaring.` Consumers aren`t convinced...
  6. Landscape Architecture Is Still Treated as Decoration — and Cities Are Paying the Price ...
  7. Madison expands third year of energy savings program for commercial buildings ...
  8. Data centers fuel $1 billion in Wisconsin business growth, but some question long-term impact...
  9. An array of stalled, or halted Milwaukee commercial developments...
  10. See photos: CARW Roundtable Forum ...
  11. Milwaukee Public Museum raises $212M for new facility but expects higher costs...

New Listings

Building for lease Active
4333 Nakoma Rd
Madison, WI 53711

Building for lease Active
Nelson Road Business Center
4005 Felland Rd, Madison, WI 53718

Building for Sale Active
Grand Teton Plaza Office Park
(22k sq ft) AVAILABLE
6601 Grand Teton Plaza, Madison, WI



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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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Annexation throws curveball into Madison-McFarland border talks


As Madison and McFarland officials seek to simplify their existing municipal border and agree on future annexation boundaries, some Blooming Grove residents are vying to join the village rather than the capital city. 

McFarland’s Village Board expects residents in the April Hills area of the town of Blooming Grove — a subdivision of roughly 150 homes and 350 people — to file an annexation petition to stave off attachment to Madison, which scheduled for Oct. 31, 2027. Other sections of the town, which is dissolving, would still attach to Madison per the terms of a 2006 agreement.

April Hills residents cited concerns about higher taxes in Madison, the proximity of McFarland’s emergency services and their stronger ties to the village at a January meeting about the general terms of a potential deal between the city and the village.


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RSK: I wonder how many people realized this when they bought their property or land.

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The Gialamas Company, Inc.


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We offer the experience, quality and service you deserve, but with the personal attention and dedication that only a family business can provide. We’re not just your landlord, we’re partners in your success.

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Surf Parks Are Entering Their First Real Test as Commercial Real Estate Assets


When the first wave pools began appearing in development plans a decade ago, they were easy to dismiss as real estate theater. Renderings showed perfect barrels curling beside apartment buildings and boutique hotels, promising to turn landlocked sites into coastal fantasies. For developers, the pitch was compelling. A surf lagoon could attract attention, accelerate leasing, and reshape the identity of an entire project. But until recently, most surf parks existed only on paper or were embedded within broader mixed use developments where their individual performance was hard to isolate. Now, as the first generation of large scale surf anchored districts opens, the real estate industry is entering a new phase. The question is no longer whether surf parks can be built. It is whether they can operate as durable commercial assets.

This shift is subtle but critical. Development risk and operating risk are not the same. Building almost anything new carries uncertainty, but once open, a property must prove it can attract consistent demand, generate reliable income, and justify its capital cost. Surf parks are expensive, as detailed in Propmodo’s earlier analysis of surf park economics...


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RSK: Can you say Wisconsin Dells?

Ken Notes: Speaking of the Dells Bethany Hamilton famously competed and practiced in Wisconsin Dells at the Kalahari Waterpark Resort in August 2004 in the FlowRider Summer Series competition. She lost her arm only one year earlier on October 31, 2003, at age 13 while surfing in Kauai, Hawaii.

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Madison Lifestyle Office Portfolio



   ...Full Story Here
The Madison Office Lifestyle Portfolio consists of 13 Class A, amenity-rich office properties ranging in size from approximately 25,000 square feet to over 300,000 square feet and is home to more than 130 tenants. The portfolio is located on the west side of Madison and Middleton, with the majority of properties situated in the Far West submarket.

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Moody`s: $662B In Data Center Leases Hidden From Big Tech Balance Sheets Poses Looming Risk


The world’s largest tech companies are vastly understating the economic risk tied to their data center leasing deals, according to a new report from Moody’s Ratings.

At least half a trillion dollars in data center lease commitments are invisible in tech giants’ financial reporting, and the actual volume of this phantom spending is likely far higher. 

The vast sums being spent by Amazon, Microsoft, Google, Meta and Oracle on building and leasing data centers and other infrastructure to support artificial intelligence are some of the most scrutinized metrics in global finance. But according to Moody’s, hyperscalers are using accounting practices that allow them to keep the majority of their data center leasing commitments off their balance sheets and invisible to investors...


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RSK: This will rear its ugly head at a sale or when the lease expires it expires, leaving some one to explain.

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Investors Associated



See All Listings Here...

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“At Investors Associated, we make it easy for brokers to match clients with well?managed, high?quality spaces. Our team prioritizes clear communication, quick turnaround times, and a seamless leasing experience. Partner with us to provide your clients with properties backed by dependable service and long?term value.”

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REIT Earnings Halftime Report


In this report, we highlight the Halftime "Winners" and "Losers" and award each property sector a Halftime Grade, noting highlights and major themes.

Summary

  • Aided by favorable "Goldilocks" macro data trends - cooling inflation alongside "good enough" labor market data - REITs have delivered notable earnings season outperformance thus far over the S&P 500.
  • REIT results have been solid, with no major bombshells and several upside surprises. 51% of REITs reported 2025 FFO beating their full-year outlook, with better trends in underlying property-level metrics.
  • Data Center, Senior Housing, and Retail REITs have been the upside standouts. AI-fueled demand has kept data center fundamentals tight despite record new supply. Senior Housing has remained red-hot.
  • Retail REIT results have also been a pleasant upside surprise. Limited new supply has kept occupancy rates near record highs and rent spreads in double digits despite a slight demand moderation.
  • Apartment, Office, and Commercial Mortgage REITs have been the notable laggards. Multifamily rents softened in late 2025, particularly in the Sunbelt. Office REIT results showed progress at the property level but lingering headwinds on bottom-line FFO from balance sheet repair.

Report at the link...


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RSK: Plenty of options here on what to do.

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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




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Trump says the economy is `roaring.` Consumers aren`t convinced


New earnings reports and consumer confidence data show that affordability remains a major worry for Americans

President Donald Trump used his State of the Union speech Tuesday night to wave away worries about affordability, touting a “roaring” economy and a country "richer" than ever before. But the data this week suggests that cost of living concerns are still very much front and center for American households.

The Conference Board’s Consumer Confidence Index nudged up 2.2 points in February to 91.2, but that`s still well off its late-2024 peak of 112.8. The expectations component improved slightly, but when consumers wrote in their actual concerns, the answers looked the same as they have for months: prices, inflation, trade, jobs. Views of current conditions got worse, and how people feel about their own family finances? That got worse, too...

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RSK: I guess it is how you look it.......progress going up is a good sign.

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Commercial Brokers Group



Breakfast meeting and CE-4 at Vogel

    April 16, 2026
    7:15 AM
    Vogel Bros. Building Co.







   ...Full Story Here

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St. John Properties




See All Listings Here...

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Since 1971, St. John Properties has designed, developed, and managed spaces that fit every type of business. Our team anticipates and serves the needs of over 2,700 clients, including small, mid-sized, and large companies, nationwide.

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Landscape Architecture Is Still Treated as Decoration — and Cities Are Paying the Price


The judging process for Architizer`s 14th A+Awards is now underway. Subscribe to our Awards Newsletter to receive updates about Public Voting, and stay tuned — winners will be announced later this spring.  

Landscape architecture has long occupied an ambiguous position within architectural culture. In its early European lineage, landscape design was closely aligned with aristocratic display. Far from being a shared civic system or public right, formal gardens such as Versailles used landscaping as an expression of power, a microcosm of political hierarchy and territorial control. Even as public parks emerged in the nineteenth century, they were often framed as relief from the city, not as structural components of it. Buildings and roads defined urban order; the landscape was treated as an amenity, often seen as an urban tool aimed at increasing real estate value.

That hierarchy reflected the priorities of its time. Industrial expansion and rapid urbanization placed emphasis on density and construction speed, while opening the door to speculation. Architecture appeared to shape the city’s identity, while landscape simply softened its edges or added a decorative flair. The ground was something to decorate or escape to, not something that organized urban life. Today, these assumptions are increasingly untenable.


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RSK : If only projects had the money and municipalities would let landscape architects plan this way. But cities want it to be there all at once.

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CARW 2025 Events and Resources
























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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

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Madison expands third year of energy savings program for commercial buildings


MADISON, Wis. — The City of Madison is launching the third year of its Building Energy Savings Program, expanding requirements to commercial buildings over 25,000 square feet.

Owners must benchmark energy use by June 30, and buildings over 100,000 square feet must complete tune-ups by Oct. 30.

City leaders say the program is already seeing strong compliance and could significantly cut energy costs and carbon emissions as it enters its final phase.


   ...Full Story Here

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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.

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Data centers fuel $1 billion in Wisconsin business growth, but some question long-term impact


Many companies don’t publicly report details on data center business they do, so it’s impossible to tally total economic impact in Wisconsin. But there are other examples.

Trane Technologies is manufacturing cooling systems for data centers in La Crosse, where it was founded in 1913, and says data centers are a strong part of its business. In November 2023, Excellerate opened a 385,000-square-foot plant in Little Chute, primarily to manufacture “modular electrical buildings” for data centers. Maysteel, a Washington County manufacturer, opened a data center hub in November 2024 and announced in February it is expanding the operation.

The sheer demand to outfit data centers has meant that some business has trickled down from larger companies to smaller ones.


   ...Full Story Here

Ken Notes: Two words, development agreements...

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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.



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

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An array of stalled, or halted Milwaukee commercial developments


  • Downtown Milwaukee`s halted Edison apartment high-rise site at 1005 N. Edison St. in Milwaukee.

  • The former Harri Hoffmann Co. building and its adjacent vacant lot in the 125-129 N. Water St. block has been proposed to be redeveloped as a Marriott Tribute Portfolio hotel in Milwaukee.

  • A vacant lot at 234 S. Water St. is proposed to be redeveloped as Admiral`s Wharf apartments in Milwaukee, Wisconsin.

  • 610 E. Summerfest Place (upper center-left), a site planned for small condo townhouse development in Milwaukee on Jan. 28, 2026.

  • A building at 790 N. Jackson St., is proposed to be converted into a boutique hotel in Milwaukee.

  • The former Humphrey Scottish Rite Masonic Center, at 790 N. Van Buren St.,is proposed to be converted into apartments in Milwaukee.

  • A vacant lot at 1504 E. North Ave. is proposed to be redeveloped as apartments in Milwaukee.
more... 
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Park Towne Realty LLC



   ...Full Story Here
Park Towne is a family run Madison-based real estate company serving southern Wisconsin for over 50 years. Led by second generation brothers Mike, Jim and Joe Ring, Park Towne has a portfolio of for-lease commercial properties and offers development, management and brokerage services.

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See photos: CARW Roundtable Forum



The Commercial Association of Realtors Wisconsin recently held its annual Commercial Real Estate Roundtable Forum at the Wisconsin Club in downtown Milwaukee.

During four 20-minute roundtable discussions, attendees heard from experts on a range of topics including data center development, tax changes, financing, and multifamily, retail and office market updates...


   ...Full Story Here

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RASCW Events


ABR Designation Course 
with Lynn Madison


Thursday, March 12, 2026 9:00 AM
Friday, March 13, 2026 4:00 PM (CDT)

Description

The Accredited Buyer`s Representative (ABR®) Designation is for real estate buyer`s agents who focus on working directly with buyer-clients at every stage of the home-buying process. With this designation you will receive specialized training, prove your experience, learn advanced strategies to identify buyer needs and preferences, clearly communicate your value, and gain a competitive edge. This course is the first step in earning your designation, the last two steps can be found here: abr.realtor/how-to-earn-your-abr/.

   ...Full Story Here

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Key Commercial Real Estate, LLC


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Milwaukee Public Museum raises $212M for new facility but expects higher costs


The Nature & Culture Museum of Wisconsin, the new name for the Milwaukee Public Museum, has raised $212 million toward its $240 million goal, but inflation and tariffs are pushing the final project cost higher...   ...Full Story Here

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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...

   ...Full Story Here

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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...



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Properties for Lease or for Sale By Company



          


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

ABSTRACT Commercial Real Estate LLC




   ...Full Story Here

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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...
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