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CirexNews - CRE and Investment News
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Ralph Kamps
...Full Story HereRalph Kamps
Editor CirexNews
608.345.2880
Ken Harwood
Publisher CirexNews
608.334.2174
JUNE 2025 Lease Asking Rates
This Weeks Articles for 6/10/2025 ...
- Hovde to convert downtown Madison’s 1st ‘skyscraper’ into boutique hotel ...
- The One Big Beautiful Bill: Initial Analysis of Key Provisions for the Real Estate Industry...
- `The Next Big Game`: AI Is Putting Adaptive Reuse Back In The Data Center Development Playbook ...
- Is it 2019 again? For these top-tier office towers in major cities, it’s starting to feel like it....
- AI Adoption Creating Demand For `Last-Mile` Data Centers ...
- More Than Half Of U.S. Warehouse Space Built In Q1 2025 Is Vacant ...
- Cousins Subs Holds Ribbon Cutting for New Location in Madison, Wisconsin...
- Florida’s Anti-Squatter Playbook Gains Momentum As Other States Follow...
- Major National Painting Contractor Launches DataCoat: A Division 100% Dedicated To Data Centers ...
- Legal Notes.......
- Ask the assessor...
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...
Hovde to convert downtown Madison’s 1st ‘skyscraper’ into boutique hotel
Madison’s first “skyscraper,” a nine-story, downtown building opened in 1915 and formerly known as the Churchill Building or the Gay Building for developer Leonard Gay, is set to be transformed into a boutique hotel, the Wisconsin State Journal reports. The building, at 16 N. Carroll St. on the Capitol Square, prompted the city’s first building height limits to preserve views of the state Capitol. It was later bought by Hovde Properties, its current owner, and was recently listed in the Wisconsin and U.S. registers of historic places.Hovde Properties’ plans would substantially renovate the structure, removing drop ceilings and years of wallpaper, paneling, paint and more, and reopen the Churchill Building in late 2026 as an 84-room Marriott Tribute Portfolio hotel with an early 20th century ambience.
The building’s surviving original elements, including iron railings along the staircase and mosaic entryway tiles, will be preserved throughout the renovation. Hovde Properties is working with historic preservation officials and seeking state and federal tax credits to offset the additional costs...
RSK: WIsh him all the luck....actually not a bad idea.
Ken Notes: The ultimate building conversion will be the DHFS building next to the convention center. We also need to film a Batman Movie there!
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 One Big Beautiful Bill: Initial Analysis of Key Provisions for the Real Estate Industry
On May 22, 2025, the House of Representatives passed H.R. 1, the budget reconciliation bill known as the One Big Beautiful Bill Act (the Tax Bill). The Tax Bill proposes amendments to the Internal Revenue Code (the Code) that could have significant consequences for both individuals and businesses. Below is a summary of the key changes under the Tax Bill that would impact the real estate industry and real estate funds.
The Tax Bill has now moved to the Senate for consideration, where further modifications to the tax provisions discussed below may be made. We will continue to provide updates as the bill advances through the legislative process in Congress.
I. Qualified Business Income Deduction (Code Section 199A)...
II. Deduction for Qualified Production Property...
III. Bonus Depreciation...
IV. Increased Limitation for Expensing Certain Depreciable Assets...
V. Excess Business Losses Limitation Extended...
VI. New Round of Qualified Opportunity Zones...
VII. Low-Income Housing Credit...
VIII. Revisions to REIT Asset Test...
IX. Increased Taxes, Including Withholding Obligations by Real Estate Funds, on Income Allocated to Foreign Investors From Certain Countries...
RSK: Worth reading....new deductions in depreciation for production and development properties among others.
Ken Notes: Share this article with others it is very well done...
ABSTRACT Commercial Real Estate LLC
 219 E Main St, Mount Horeb, WI |
 5955 McKee Rd, Fitchburg, WI |
 640 University Ave Madison, WI |
 704 Williamson St Madison, WI |
 5955 McKee Rd, Fitchburg, WI |
 638 University Ave Madison, WI |
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...Full Story Here`The Next Big Game`: AI Is Putting Adaptive Reuse Back In The Data Center Development Playbook
Amid this decade`s boom in data center development, conversions of existing buildings have become more rare than they were previously. But now, an emerging shift in demand for artificial intelligence computing may trigger more adaptive reuse projects.
With other CRE sectors suffering from higher vacancy, the idea of converting underperforming warehouses, offices and retail properties into data centers has been frequently floated but rarely executed.
Such adaptive reuse projects may sound intuitive, but a consensus emerged across the data center sector over the past half-decade that, with few exceptions, demolishing an existing structure and building from scratch is faster, cheaper and easier than attempting a retrofit...
Such adaptive reuse projects may sound intuitive, but a consensus emerged across the data center sector over the past half-decade that, with few exceptions, demolishing an existing structure and building from scratch is faster, cheaper and easier than attempting a retrofit...
RSK: You will be seeing more and more of this. It all makes sense for the delivery of last mile data tech and AI. That office building next to you may be housing a data center soon.
The Gialamas Company, Inc.
 8150 Excelsior Dr Madison, WI |
 1289 Deming Way Madison, WI |
 918 Deming Way Madison, WI |
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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.
Is it 2019 again? For these top-tier office towers in major cities, it’s starting to feel like it.
Use of trophy properties is back near pre-pandemic levels on peak days, report shows
Owners of trophy office towers in big U.S. cities may have reason to feel like it’s 2019, the pre-pandemic time when workers pushed through crowded lobbies and elevators to log in for the day.
Class A+ buildings in major markets are exceeding 90% of pre-pandemic use on peak days, according to a midyear report from building security firm Kastle Systems. That use reaches 94% on Tuesdays, the top day for in-person work.
The report offers hope for landlords throughout the country that have struggled to overcome historically low demand for corporate space as remote and hybrid work habits have persisted more than five years since the onset of COVID-19.
It also highlights wide gaps between top-tier properties in the largest cities and the broader U.S. office market...
Class A+ buildings in major markets are exceeding 90% of pre-pandemic use on peak days, according to a midyear report from building security firm Kastle Systems. That use reaches 94% on Tuesdays, the top day for in-person work.
The report offers hope for landlords throughout the country that have struggled to overcome historically low demand for corporate space as remote and hybrid work habits have persisted more than five years since the onset of COVID-19.
It also highlights wide gaps between top-tier properties in the largest cities and the broader U.S. office market...
...Full Story Here
RSK: This trend is national. Top tier office space is leasing up. It may make sense to build or remodel buildings in the near future as rents are driven up...
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
Bakers Place
849 E Washington Ave, Madison, WI
Merchant Place
6706 Odana Rd, Madison, WI
219 S Main St
Cottage Grove, WI
SEE ALL LISTINGS HERE
...Full Story Here
AI Adoption Creating Demand For `Last-Mile` Data Centers
Artificial intelligence computing demand is shifting as more people use the technology, and it is expected to push data centers closer to population centers.
Big Tech’s AI arms race has sparked a data center megacampus boom — a wave of planned projects with hundreds of megawatts of capacity, built primarily to provide the computing power for “training” new AI models.
Now, as corporations and consumers increasingly embrace AI products and services, this adoption is driving a surge in demand for the computing through which users interact with these models — known as inference.
In the months ahead, the need for AI inference computing is expected to account for a higher share of data center demand than ever before. The demand shift from training to inference is already underway, and industry leaders at Bisnow’s DICE: National event last month said it will fundamentally transform the data center development landscape.
Now, as corporations and consumers increasingly embrace AI products and services, this adoption is driving a surge in demand for the computing through which users interact with these models — known as inference.
In the months ahead, the need for AI inference computing is expected to account for a higher share of data center demand than ever before. The demand shift from training to inference is already underway, and industry leaders at Bisnow’s DICE: National event last month said it will fundamentally transform the data center development landscape.
...Full Story Here
RSK: Some new terms in this story with the major one being inference What this all comes down to is ai data centers are going the way of Amazon distribution or the "last mile". Small data centers will be located close to where the end users are. Much easier to construct and a much lower profile. Read on to get the whole story and reason why.
Commercial Brokers Group
Event Information
July 16, 2025
3:30 to 6:30 PM
Memorial Union Terrace
CARW 2025 Events and Resources
Ken Notes: Thank you Tracy Johnson President and CEO of CARW for keeping me in the loop.
More Than Half Of U.S. Warehouse Space Built In Q1 2025 Is Vacant
The U.S. industrial sector can`t seem to shake the effects of the pandemic-era wave of warehouse development.Speculative development accounted for 71% of the 73M SF of industrial space that delivered in the first quarter, according to Cushman & Wakefield. Roughly 45M SF of spec space came online vacant, nudging vacancy up 30 basis points to 7%. ...Full Story Here
RSK: A slight dip in absorption. We shall see what happens as the tariff questions are finally resolved.
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
MADISON: 2450 Rimrock Road, Suite 204, 608-255-2700
CAP SQUARE: 44 E. Mifflin Street, Suite 101, 608-255-2700
Cousins Subs Holds Ribbon Cutting for New Location in Madison, Wisconsin
Cousins Subs marked the grand opening of its newest location in Madison, Wis., with a ribbon cutting ceremony alongside the Greater Madison Chamber of Commerce and Bucky Badger. Located at 1 N. Park St., the restaurant reestablishes the brand’s presence near the University of Wisconsin–Madison campus.
“This location is a full-circle moment for our brand,” said Christine Specht, CEO of Cousins Subs. “We’re proud to bring our deli fresh food back to downtown Madison and serve the vibrant student community and city residents in this iconic spot.”...
...Full Story Here
RSK: Excellent location for them. Student dorms close by, Kohl Center a block away, 2 hospitals in walking distance and of course those football Saturdays...
Reinhart
With the largest Real Estate Practice of any law firm in Wisconsin, Reinhart offers clients custom-tailored real estate insight.
Florida’s Anti-Squatter Playbook Gains Momentum As Other States Follow
New law lets police remove nonpaying hotel guests too
Florida property owners will soon have new tools to combat unauthorized occupants, this time beyond the residential sector. On Monday, Governor Ron DeSantis signed two new measures aimed at helping commercial landlords and hotel operators more quickly remove “squatters” from their properties.One of the new laws, SB 322, allows commercial property owners to request police assistance in removing unauthorized individuals, provided that the occupants have been asked to leave first. Those removed retain the right to file a lawsuit for wrongful removal. The measure is intended to provide landlords with a faster path to reclaiming control of their spaces. ...Full Story Here
RSK: I`m not sure if Wisconsin has such laws but if they do not, it`s probably time we did.
St. John Properties
 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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...Full Story HereMajor National Painting Contractor Launches DataCoat: A Division 100% Dedicated To Data Centers
Data centers have become one of the fastest-growing types of construction projects, booming like warehouses did a few years ago. With demand for artificial intelligence and data storage skyrocketing, the number of data centers worldwide is expected to jump from about 5,200 in 2024 to over 7,600 by 2030 — creating a major pipeline of work for contractors and trades skilled in complex builds. While much attention is given to data centers once they’re up and running, there is an entire industry focused on the complex and highly specialized work that goes into building them. Graydaze Contracting has been performing the painting and sealants scope on new construction data center projects for over 10 years. To further their specialization, Graydaze launched DataCoat, the first nationwide commercial painting division exclusively focused on data centers...
RSK: I love it. Find a need or a niche and fill it. Just shows there is always opportunity out there.
Colliers|Wisconsin
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.
 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 HereLegal Notes....
Question:
A firm had a property listed. An agent from the listing firm showed the property to a buyer. The buyer subsequently signed a buyer agency agreement with a different firm. The buyer used the offer to purchase to ask the seller to pay the buyer`s firm`s fee, which the seller accepted. The agent with the listing firm who showed the property now claims procuring cause. There was no firm-to-firm compensation agreement. Is procuring cause even relevant anymore?
Answer:
If there was a firm-to-firm compensation agreement and the firm`s indicated procuring cause was the standard of performance, then the firms could arbitrate which firm was procuring cause, like when there used to be an MLS offer of compensation. Without a firm-to-firm compensation agreement dictating procuring cause as the standard of performance, arbitrating procuring cause is only relevant in a few limited situations with specific facts. As applicable to the facts indicated here, for the listing firm to be able to file arbitration and claim procuring cause, they would have to fit the scenario identified in Standard of Practice 17-4(5).Standard of Practice 17-4(5) identifies a scenario where a buyer`s firm is compensated by the seller and the listing firm reduces the commission owed by the seller but the listing firm claims to be procuring cause. In this instance, the arbitration shall be between the listing firm and the buyer`s firm and the amount in dispute shall be the amount of reduction the listing firm agreed to with the seller.
The various scenarios where procuring cause is still applicable are found in the Standards of Practice for Article 17, which can be found on page 14 of NAR’S Code of Ethics & Arbitration Manual.
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.
RASCW Events
Description
Pop-Up Networking Happy Hour
On the Patio at Vintage Brewing
Expand your circle, strengthen your connections, and unwind with fellow real estate pros at this laid-back networking event. There’s no agenda - just real conversations, potential referrals, and the chance to connect with others who understand the business.
...Full Story HerePark Towne Realty LLC
 7031 River Rd DeForest, WI |
 402 Gammon Pl Madison, WI |
 6730 Odana Rd Madison, WI |
 1117 River Rd DeForest, WI |
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 6808 Odana Rd Madison, WI |
See All Listings Here...
Ask the assessor
Property assessments went public on May 16. You had questions and Isthmus got answers...
What Madison homeowner doesn’t have questions after receiving their latest property assessment from the city? A $50,000 increase on a one-bathroom house? What????
City assessors mailed property assessments on May 16; appeals were due June 2. Isthmus sat down over a video call with City Assessor Michelle Drea and Megan Lukens, business systems manager, to answer frequently asked questions, some submitted by readers.
How does Madison’s property assessment process work?....
...Full Story Here
Key Commercial Real Estate, LLC
See All Listings Here...
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...
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 |
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See All Listings here...
Properties for Lease or for Sale By Company
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 |
Flad Development & Investment Corp. |
Evans Properties, LLC |
Keller Real Estate Group |
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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  |
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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