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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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RSK: When everyone else is running because of uncertainty with the tariffs, these boys know something and that it will no doubt work itself out.

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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Some of the data centers may never even materialize, sticking ratepayers with the bill for overbuilt fossil-fuel infrastructure, advocates argue.

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RSK: SOrt of a catch 22 here. Data Centers use huge amounts of power. WHat you do not want is surges in the power stream which could ruin the lines and basically fry the grid. SO, you over power for the demands. Wind and solar are not reliable enough in my mind. The other problem is data centers are mostly automated.....few new jobs are created.

Ken Notes: 4 words, "pay as you go"...

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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.

The D.C. office market was just starting to stabilize when the federal government threw a wrench in the plan, fueling a new sense of uncertainty across the city. But the top echelon of the market is facing a vastly different reality, new data shows.

The market for trophy office space is getting tighter every quarter. With the construction pipeline nearly dry, it is only getting more constrained, and tenants vying for the limited available space are pushing rents to new highs...   ...Full Story Here

RSK: The flight to quality!

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.

The area around Amazon`s downtown Seattle headquarters is bustling, with employees lining up at restaurants and food trucks at lunchtime on a recent Wednesday.

Groups of badge-wearing workers chat as they carry bags of food back into the tech giant`s high-rise offices along Lenora Street between 6th and 7th Avenue. Some stop by the popular banana stand at the base of The Spheres — glass conservatories serving as employee and tourist hubs at the Amazon campus — where “banista” Jessamyn Reichmann hands out free fruit from a silver Airstream trailer on weekdays.

“Activity has picked up universally," Reichmann said. "There’s more foot traffic and commuters, and it’s more crowded in the buildings since January."

After three full months of Amazon`s requirement that workers come to offices five days a week, downtown Seattle foot traffic — especially in the area around its headquarters — has reached daily averages not seen since before the pandemic hit in early 2020, the latest data from the Downtown Seattle Association shows.
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RSK: A bit of conflicting reports here. Some businesses say the foot traffic is helping them while others say inflation has raised prices and people are complaining and not coming to their establishments. I would say it is a good thing.

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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Contractors are receiving price hike notices on several key inputs, complicating efforts to plan and budget new projects

Dive Brief:

• Construction input prices increased 0.5% in March, while nonresidential input prices climbed 0.6%, both unusually steep jumps, according to an analysis by Associated Builders and Contractors of U.S. Bureau of Labor Statistics data.
  
  
• Both overall and nonresidential input prices are now 0.8% higher than a year ago and sit more than 40% higher compared to February 2020, largely due to a sharp rise in natural gas, steel, copper and lumber prices.
  
  
• The price escalations across the board reflect early impacts from tariffs and mark the third straight month of price jumps, said Anirban Basu, ABC chief economist.

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RSK: This will no doubt delay many a project and the ones that are completed will need to charge higher than average rents to make them financially feasible.

Event Information
    June 10, 2025
    7am-12pm
    Ideal Builders

Please join us for our breakfast meeting and CE-2 on Tuesday, June 10th 2025 at Ideal Builders, 1406 Emil St Madison. Thanks to our presenting sponsors, Ideal Builders and Yaeger Advisors. The meeting schedule is:

    7 AM Breakfast
    8 AM Yaeger Advisors Presentation
    8:30 AM Ideal Builders Presentation
    9 AM – 12 PM CE-2

Add to your calendar June 10

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Introducing CARW Member Meet-up: A New Way to Connect with CARW
CARW is thrilled to unveil the CARW Member Meet-up, a series of gatherings designed to foster authentic connections within our community. These “meet-ups“ are a low-stress way to bring together small groups of members to share meaningful conversations over lunch, dinner, or even a cup of coffee.   ...Full Story Here

Ken Notes: Thank you Tracy Johnson President and CEO of CARW for keeping me in the loop.

The industry has resumed hiring too. After bottoming out at a 1.4% year-over-year decline in the first quarter of last year, R&D jobs in the biotechnology sector increased by more than 3% in 2024, to an all-time high in the fourth quarter of the year.
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RSK: Good news for Velocity Station on Odana Rd.

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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

The world`s largest industrial landlord was double downgraded by Scotiabank Monday, causing stocks to fall to a nearly five-year low.

Prologis has been taken from Sector Overperform to Sector Underperform, meaning the REIT’s stocks are expected to perform worse than the industrial market overall in the coming months.

Scotiabank also reduced the price target to $97 from $133.

Prologis` stock was $91.71 a share during Monday trading, down 6.6% from its previous close of $98.35, according to Seeking Alpha. As of midday Tuesday, the price remains the same.

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RSK: I wouldn`t panic yet and I don`t think the big players are either.

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With the largest Real Estate Practice of any law firm in Wisconsin, Reinhart offers clients custom-tailored real estate insight.

Two years after the failures of Silicon Valley Bank and Signature Bank touched off waves of panic over the concentration of commercial real estate loans held by regional banks, financial institutions are making a dent in their balance of bad debt.

Concerns about regional banks` ability to absorb declining real estate values became pervasive despite a pullback from CRE lending in the wake of the banks’ failures.   ...Full Story Here

RSK: Some banks that have careful underwriting in our area are not in this predicament. I am thinking of Oak Bank and One Community Bank as examples.

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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Discovering land has the infrastructure to supply hundreds or thousands of megawatts of electricity is now like striking oil or hitting the jackpot.

Power infrastructure is significantly increasing the value of some property, bringing owners and developers out of the woodwork to see if their holdings can help meet the insatiable demand brought by hyperscale data centers amid an artificial intelligence boom.

The phenomenon is making a handful of landowners in Texas and other data center hot spots overnight tycoons. Others are paying big bucks to see if their properties can cash in.   ...Full Story Here

RSK: Wisconsin may miss out on the "gold rush" because of the utility companies asking for rate increases and trying to pass bills that will limited competition in the bidding process for expansion.

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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In an executive order that Trump is expected to sign on Tuesday afternoon, he will set out a number of steps by the government designed to reinvigorate the coal industry, the report said.   ...Full Story Here

RSK: Wonder if this will have some old coal power generating power like the Columbia Power Plant. Some of them have been so decommissioned that it would be virtually impossible to restart, Data centers need power, lots of power.

Coal??? Why not "Mini nuclear reactors," also known as Small Modular Reactors (SMRs) or Microreactors.

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.

2025 Milwaukee Brewers Trip
Back to Search
Wednesday, May 7, 2025
(10:00 AM - 6:00 PM) (CDT)

Join us for an exciting afternoon of baseball and networking! The 2025 Milwaukee Brewers Trip to American Family Field, will be May 7, 2025. The Brewers will be playing against the Houston Astros. Here are the details:

•     Game Day: May 7, 2025, tickets are located in the Johnsonville Party Deck
  
  
•     Game Time: 12:10pm game against the Houston Astros
  
  
•     Getting There: The bus departs at 10am. We will meet at East Towne Mall old Sears parking lot (behind Culvers). The bus will return right after game.
  
  
•     Cost: $110 per person – includes: Game Ticket & Seat, Coach Bus Transportation, Refreshments, All-You-Can-Eat Lunch Buffet, & Two Beers

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Sizable gain on trade policy reversal, but uncertainty plagues the market

President Donald Trump’s tariffs sent real estate stock prices on a rollercoaster. 

They tumbled last week amid concerns from all corners of the industry over sky-high pricing and added costs. Days later, a fake headline posted to social media platform X claiming a pause on tariffs sent stocks briefly soaring, only to tumble back down after the news was debunked...

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RSK: Residential worried about interest rates, leasing worried about build out costs and if international tenants will pull out, construction costs of building supplies and interest rates. This will all settle out in time.

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RSK: Probably a win win for Sams. If tariffs increase the cost of goods people buy then they turn to discount warehouses. If prices do not rise they still have a viable service that has more than doubled since the pandemic.

Nobody seems to want the Alliance Bank Center in St. Paul, raising questions about how the city is going to keep the tower safe.

Why it matters: With rising office vacancies and plummeting property values in downtown St. Paul, the abandoned tower highlights a problem that could be the first of more to come.

State of play: The city has condemned the 16-story Alliance Bank Center and taken over basic property management from distressed landlord Madison Equities. It`s keeping the water on for fire suppression and maintaining some skyway access to other buildings, and it says it`s also continuing to patrol the property.

Threat level: A complex this large and with this many access points presents a long-term safety risk.

• City inspectors discovered feces, urine and garbage during an April 3 inspection, which was detailed in a notice to condemn the property. There was also evidence of break-ins and broken doors and windows....

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RSK: Probably won`t happen in our market. That building is out of date. Soeone will buy it for location and dirt if nothing else, although demo will not be a small amount...

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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Question:

An agent wants to sell investment properties that are owned by an LLC of which the agent is the sole member. Can the agent list those properties? What is the best practice for doing this?

Answer:

The agent may list the properties owned by the agent`s LLC. The agent must obtain written consent and disclose that the agent has an ownership interest in the seller-LLC, per Wis. Stat. § 452.133(3)(b) and Article 4 of the REALTOR® Code of Ethics.

The following example may be used to obtain written consent in the offer to purchase:

“All parties understand licensee, __________, has an interest in the (Buyer) (Seller) [STRIKE ONE] entity or organization and consent to the licensee serving as a real estate agent for that entity or organization in this transaction.”

Wis. Stat. 452.133(3) states:

“Wis. Stat. 452.133(3) Prohibited conduct. In providing brokerage services, a licensee may not do any of the following:

(b) Act in a transaction on the licensee`s own behalf, on behalf of the licensee`s immediate family if the firm is an individual, on behalf of the licensee`s firm, or on behalf of any organization or business entity in which the licensee has an interest, without the prior written consent of all parties to the transaction. For the purpose of complying with this paragraph, a licensee shall obtain the written consent in the offer to purchase, option, lease, or other transaction contract.”

Article 4 of the Code of Ethics provides:

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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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