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This Weeks Articles for 6/21/2022 ...
- I was earning 14% on a real estate investment, but all the financial advisers I interviewed wanted me to sell and invest in stocks instead. What gi
- Reports Of Office Real Estate`s Death Were Greatly Exaggerated
- The End of the Millennial Lifestyle Subsidy
- U.S. e-grocery sales trend down again in May
- How the Rate Hikes Are Impacting CRE
- building for lease 2nd Generation Restaurant 115 State St, Madison, WI
- As Some Office Workers Return, Happy Hour Sees a Wobbly Comeback
- Lego is building a $1 billion factory in Virginia to capitalize on its fast-growing US fanbase
- building for lease 316 W Washington 316 W Washington Ave, Madison, WI
- Why Out-of-Favor Asset Classes Can Maximize Returns
- building for lease 704 Williamson St 704 Williamson St, Madison, WI
- building for lease Essex Square 4274 E Towne Blvd, Madison, WI
- The California exodus continues as residents head south of the border
- building for lease 2 S Carroll St Madison, WI
- Parking Lot Power
- building for lease Churchill Building 16 N Carroll St, Madison, WI
- building for lease 426 Gammon Place 420 Gammon Pl, Madison, WI
- building for lease 517 State St Madison, WI
- A second Amazon Style apparel store is coming — here’s where
- Phoenix Investors’ Frank Crivello: How to Find a Warehouse in 2022
Cirex News is emailed weekly to over 2,000 CRE Brokers/Agents and people interested in commercial real estate. In our weekly News & Views you can promote your clients properties and your services for just $15 for new listings (If it is put into the Cirex Guide no extra charge) and $25 for a banner ad (also free to Guide advertisers). call 608-345-2880...
Rising mortgage rates did not slow down rising home prices in March.
Nationally, home prices were 20.6% higher than they were in March 2021, according to the S&P CoreLogic Case-Shiller Home Price Index. That is higher than the 20% gain in February. The index is a three-month running average ending in March.
Nationally, home prices were 20.6% higher than they were in March 2021, according to the S&P CoreLogic Case-Shiller Home Price Index. That is higher than the 20% gain in February. The index is a three-month running average ending in March.
- Nationally,
home prices were 20.6% higher than they were in March 2021, according
to the S&P CoreLogic Case-Shiller Home Price Index.
- The
Case-Shiller’s 10-city composite rose 19.5% annually in March, up from
18.7% in February. The 20-city composite saw a 21.2% year-over-year
gain, up from 20.3% in the previous month.
- The average rate on the 30-year fixed mortgage stood at 3.29% at the start of January and ended March at 4.67%, according to Mortgage News Daily.
RSK: As the Fed pushes rates up soon, the frenzy of REITS buying single family homes will slow down. Already price increases have slowed down because of the squeeze out of individuals ability to buy. What goes around will come around.
Ken Notes: What government has a difficult time realizing is that it is stability that drives the market, businesses want to plan, homeowners want job security, retail wants customers, drivers want to be comfortable filling their tank. When pieces of this stability are interrupted you get chaos. This is where we are now and to quote May West, "It`s going to be a bumpy ride".
2022 Commercial Real Estate Summit
June 23 @ 1:00 pm - 4:00 pm
Lussier Family Heritage Center
3101 Lake Farm Rd
Join us for an engaging conversation on Commercial Real Estate in Dane County, Q & A, and networking!
Presentations by:
- Cori Lamont, Senior Director of Legal and Public Affairs with the Wisconsin REALTORS Association
- Mark Eppli, Director of the James A. Graaskammp C enter for Real Estate at UW Madison
- Matt Wachter, Director of the Department of Planning, Community, and Economic Development at the City of Madison
RSK: This Seminar is free and open to anyone...plus a reception immediately following. A shout out to Capitol Bank for being a sponsor.
Reader email: I interviewed many advisors for a year from standalone people to those at big firms. All, without exception, wanted to sell the real estate and convert it to stocks (they all had different approaches but in the end this was their message to me). Since my real estate holdings were medical office buildings kicking out 14% a month (annualized) before capital gains on the buildings, that made zero sense to me. I’m sure there are people out there who actually specialize in managing these kinds of portfolios but I didn’t find one...
...Firstly, let’s address why so many advisers were pushing you to sell the real estate. “The most likely reason you ran into this issue with such prevalence is that money managers and financial advisers are often compensated based on the amount of assets that are under their management. If you sell the real estate and turn over the proceeds for them to invest, voila! They get paid on that,” says Greg McBride, chief financial analyst at Bankrate....
RSK: Usually, just follow the money....most advisors make money on stock trades and portfolios.....that simple. However, some advisors do charge a flat fee and not a percentage and are familiar with real estate investments. You need to find one of those.
Ken Notes: I`ll pitch this one more time, Ralph and I would love to do a newsletter strictly for real estate investors for one or more sponsors. Imagine being the expert / source of sound info on investing for your clients or potential investors weekly. This is very affordable marketing...
Market participants predict inflation will run at an average below 2.5 percent during the period from six to 10 years from now.
(Bloomberg Opinion) -- A consensus has formed that the Federal Reserve waited too long to start tightening money. Ben Bernanke, the former Fed chairman, has said so. Janet Yellen, another former chairman who now serves as Treasury secretary, has implicitly agreed, saying that she, like many other observers, underestimated how high inflation would run for how long.
But Fed watchers are still disagreeing about another question: Is the central bank tightening too much and too fast now?
RSK: The problem is if you curb it too fast and to hard you risk a recession.
Ken Notes: If the governments were smart, and they are not, we could uses this market to build smaller affordable homes, spread our infrastructure rebuild over time, reduce use and produce all carbon fuels locally, stabilize interest rates, work with businesses to lower health care and other benefits, develop job skills and training, and decrease our dependence on foreign goods.
Morris Ellison of Wombie Bond Dickinson on the importance of identifying and separating tangible and intangible income components.
An acquisition of an income-producing property is often an investment in much more than land and improvements. Tangible and intangible personal property can combine with the land and buildings or improvement to produce the income stream valued by investors. Because intangible property is exempt from property tax, identifying the presence of intangible personal property and appropriately allocating values to these components offers savvy investors the opportunity to save money both in the acquisition and, in some cases, for years thereafter...
RSK: Separating tangible from intangible assets is not an easy thing to do. But if done right, it can save you real estate taxes well into the future.
Ken Notes: A good development agreement should benefit both the community and the developer.
Madison Lifestyle Office Portfolio comprises 16 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.
A new report from JLL says the onus for much of the needed work will fall on the CRE industry.
As major cities worldwide brace for climate change, a new report from JLL warns that “the policy mechanism of choice will be to put more controls in place.” In other words, CRE players should be prepared for mostly sticks, not carrots.
More than 60 percent of carbon emissions come from buildings. So as cities around the globe set ambitious carbon reduction goals, there is increasing pressure on the real estate industry to help meet those goals, writes Guy Grainger, global head of Sustainability Services and ESG for JLL...
More than 60 percent of carbon emissions come from buildings. So as cities around the globe set ambitious carbon reduction goals, there is increasing pressure on the real estate industry to help meet those goals, writes Guy Grainger, global head of Sustainability Services and ESG for JLL...
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RSK: I like how this has to be so draconian and not eased into thing, especially with inflation and building material shortages. Same with turning to electric vehicles now without going to hybrids first, so it is economically feasible to many rather than just a few and punishing them with high gas prices.
Ken Notes: Developers are in a Catch 22, they want carbon neutral buildings, but in the spec market they must be competitive - so up front costs have to be minimized...
VIEW FROM ABOVE
While companies and the economy continue to grow, the office market struggles to find its footing.
company culture and job roles.
- Vacancy 12.3%. Remained steady for 5th consecutive quarter.
- 1.7% Unemployment. Unemployment continues to remain low in Dane County.
- Large block office space and subleases remain abundant.
- Expect companies to continue to shed real estate.
RSK: Broadwing Advisors Q1 Office Vacancy Report. Some interesting statistics in this.
If you’re sick of reading articles about the pandemic’s impact on real estate, imagine how sick I am of writing them. There are only so many synonyms for “pandemic.” But the truth is that we’re all living in a reality that’s been irreversibly altered by Covid-19, and the commercial real estate market is no exception.Since the beginning of the global crisis, the perceived fate of commercial real estate (and office real estate in particular) has ranged from grim to hopeless, depending on who you asked. However, new circumstances provide a less alarmist outlook, and it appears that the sky isn’t falling after all. Essentially, reports of office real estate’s death were greatly exaggerated.
On April 4, Google began requiring its employees to work from their physical offices again (starting with three days a week) for the first time since March of 2020...
...moreRSK: Did you ever see those videos of schools of fish moving as one in the ocean? Well, that is how an office culture can work. Being separate does not help the whole....yet you need to be a separate fish in the school, or office, to make it work. People need face to face collaboration...
Ken Notes: Every company will have to evaluate what works for them. Offices, like retail and dining will need to become more user friendly and enticing.
IA Management is a full service property management company located in Madison, Wisconsin. Our objective is to be a profitable leader in both commercial and residential real estate.
(CNN)A record-setting 10.7 million 20-foot containers passed through the Port of Los Angeles in 2021, up 13% from the previous record set in 2018.
And that pace is set to continue, according to Gene Seroka, executive director of the Port of Los Angeles. "I don`t see us falling off a cliff," Seroka said. "I don`t see the American consumer changing their buying habits."
"We`re running now about 17-18 ships a day that are working in port. That`s 70-80% higher productivity than we ever had before Covid-19," Seroka said...
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RSK: Good article on why it is still a bit back logged. Also, if they slow the rate that ships can anchor off port and keep them at sea longer, the perceived back-log doesn`t look so bad...but it is still there...turning a blind eye to the problem I guess, or just slow the bleeding even though you cannot stop it.
Can you solve the puzzle
...more1 16-oz. units4 Small thicket of trees9 Rascals13 Cod or Fear, in the Atlantic15 Chef`s garment16 "Nightmare Alley" actress Rooney17 Cocktail of mostly gin and very little vermouth
RSK: This week`s crossword courtesy of the Morning Brew.
Commercial real estate has long been thought of as a hedge against inflation, but recent trends in the market are testing that theory....more
RSK: The key for residential price inflation is mainly that everyone needs a place to live...but not everyone needs to go to the office to work....nor go to a hotel for travel and leisure. But let`s be real, there is inflation in good commercial real estate.
The pandemic-era hiring boom seems to have moved too far for some US businesses.
The number of Americans with their work hours cut to part-time rose in May by 295,000 to 4.3 million, the Bureau of Labor Statistics announced Friday morning. That`s the largest uptick since February. The total number now sits at the highest point since October, and the Friday reading adds to a months-long upward trend.
The number of Americans with their work hours cut to part-time rose in May by 295,000 to 4.3 million, the Bureau of Labor Statistics announced Friday morning. That`s the largest uptick since February. The total number now sits at the highest point since October, and the Friday reading adds to a months-long upward trend.
- Nearly 300,000 more Americans had their hours cut to part-time in May, according to new data.
- The uptick hints some firms are cutting labor costs and reversing some of their pandemic hirings.
- The increase could mark the first sign of firms settling into an economy with weaker consumer spending.
RSK: I think consumers are tightening the belt a bit here because of inflation...it costs $10 just to drive downtown, park. Then there is the inflation on goods if you are going to shop or dine. It all takes its toll.
As companies and workers continue to try to figure out where and how work will take place in a hybrid environment, the costs being spent on existing office spaces previously built around the 9-to-5, five-day workweek are being closely examined...
Key Points
- As companies navigate having both in-office and at-home workers, the role of the traditional office is being reconsidered.
- Having
less people in an office every day could mean cutting space, but those
spaces need to better suit the workforce of today, executives say.
- How that experience evolves could be the difference between workers coming back to the office smoothly or leaving their jobs.
RSK: It is not going to take less real estate to entice workers back to the office....in fact, it might take more.
Something beyond rising energy and labor costs is leading to sticker shock on once-cheap urban amenities.
Several weeks ago, I needed a ride home after some late-night drinks about two miles from my place in Washington, D.C. I pulled up the Uber app and entered my address. When the price on the screen popped up, I assumed I’d entered the wrong street, and perhaps the wrong state. I carefully retyped. But the same price appeared on the screen: $50.
That’s outrageous, I thought; $50 for a 10-minute ride? Then I kept thinking. Aren’t gas prices and inflation near half-century highs? Isn’t the labor market so tight that low-paid workers are switching jobs at historic rates? Isn’t nominal wage growth rising fastest for the kind of workers most likely to drive for Uber? Yes, yes, and yes...
RSK: This is bitter sweet funny yet so true. Read it and you will be nodding your head in agreement.
Ken Notes: We are quickly developing a warped sense of reality here, NYC teens are charging north of $50 / Hour to babysit. Service workers are asking for $70 / Hour. While supply is upside down and inflation rages on we will see this until we exit the "other world" the pandemic and economy threw us into...
CBG Afternoon Meeting/Social
Date: Wednesday, August 10th, 2022
Time: 3:45 PM
Event Details:
It`s that time of year again for our annual August afternoon meeting with hors d`oeuvres and alcoholic refreshments! Please save the date for Wednesday, August 10, 2022 from 3:45 - 6:15 p.m. Please join us for something a little different this year for a boat ride starting from the Pontoon Porch at One John Nolen Drive from 3:45 - 6:00 p.m. Please note that the boat will be leaving the pier at 4:00 p.m. There is limited seating; however, so register early!
Roughly 100 Sears Hometown locations are permanently closing in the coming weeks, representing roughly half of its remaining retail footprint...
Ken Notes: Watch this little video it is interesting Sears was the Amazon of it`s day and should have been the leader as online started to take off instead it killed them???
RSK: Looks like the end is near. No doubt selling off the real estate for its value to get some cash.
1,200-5,800 sq. ft. Retail / Restaurant Space For Lease
High profile retail / restaurant location in the heart of the mature West Towne Mall trade area. This site offers outstanding visibility and access off of both Gammon and Odana Road. Flexible space options available from 1,200-5,800 sq. ft. with patio and drive thru options. This property is also available on a Land Lease basis. Call Broker for more details....more
Turn-Key Fitness
Save time and money with a beautifully built-out fitness space! Grand visibility with an all glass frontage, inviting entrance with expansive work-out room, dressing rooms, restrooms (showers can be added), private office, and more. Enjoy business synergies with RED Sushi across the hall and various offices on the subsequent floors. Artful property as customers/clients are greeted by illuminated artwork on the property, state of the art screens in the hallway welcoming guests and sharing events, fitness room with equipment, conference room, bicycle parking for those opting for alternative transit or underground parking for your vehicle. One block from the Capitol Square......more
Tesla’s white-collar staff face a stark choice: return to the office like their colleagues on the assembly line—or start cleaning out their desks.
In a leaked email from Elon Musk sent on Tuesday titled “Remote work is no longer acceptable,” the polarizing centibillionaire said only in extreme cases where this was deemed impossible would he personally decide whether to reconsider his decree...
RSK: Well, Elon....how do you really feel about people working remotely at your company?
Layoffs come as firm seeks injunction against Instagram page
The joke seems to have been lost on CoStar’s leadership.
The real estate data giant, which has come under fire recently for its allegedly draconian managerial style that is said to have included surveilling remote workers, is now seeking an injunction to stop an ex-employee from mocking the company on social media...
The real estate data giant, which has come under fire recently for its allegedly draconian managerial style that is said to have included surveilling remote workers, is now seeking an injunction to stop an ex-employee from mocking the company on social media...
RSK: In my dealings with the company, I had an employee or two that you could tell were not happy just in their pushy attitude and condescending tone if you didn`t buy in.
Ken Notes: Remember having a local option under local control is a gift!
Rising inflation has consumers rethinking where and how they shop online for groceries, Brick Meets Click survey shows
Online grocery sales fell again on a sequential basis in May, with the month-to-month decrease nearly double the size of the decline in April, strategic advisory firm Brick Meets Click reported.
The U.S. online grocery market totaled $7.1 billion for May, down 12.3% from $8.1 billion in April, when sales had dipped 6.9% month to month, according to the latest Brick Meets Click/Mercatus Grocery Shopping Survey, released Monday. April’s total was down from $8.7 billion in March and February, which signaled an uptick following a 4.5% month-to-month decrease to $8.5 billion in January...
The U.S. online grocery market totaled $7.1 billion for May, down 12.3% from $8.1 billion in April, when sales had dipped 6.9% month to month, according to the latest Brick Meets Click/Mercatus Grocery Shopping Survey, released Monday. April’s total was down from $8.7 billion in March and February, which signaled an uptick following a 4.5% month-to-month decrease to $8.5 billion in January...
RSK: One major factor...higher gas prices, which means higher costs of goods and delivery = inflation. People tighten their belts....literally.
Retail/office building in a great location three
private offices on the second floor. High visibility with good traffic
counts on East Washington and easy access to/from Highway 151 and I-90.
Abundant on-site parking. Several private offices, large conference
room, open work area, breakroom/kitchen area in each office. Views of
East Towne mall. Additional nearby businesses include, Noodles and
Company, Great Clips, Moka Coffee, Concentra Health, UPS store, and
more. Ideal location for a cosmetic/beauty spa, financial firm, law
firm, graphics company and many more.
Monument and on-building signage available for tenants facing E
Washington Avenue
Highly trafficked with 38,600 AADT on E Washington Ave
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Here’s to the crazy ones, the misfits, the researchers who keep trying to give us a longer weekend. A six-month program that began in the UK on Monday will test the effects of the four-day workweek on thousands of workers across 70 companies.More than 3,300 workers will participate in the trial, making it the largest test of the four-day workweek. Several industries will be involved, including banking, health care, marketing, and retail—and through interviews, surveys, and internal productivity measures, researchers will determine if we have all been clocking in on Fridays for our whole adult lives for absolutely no reason. The results of the trial will be announced sometime in 2023...
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RSK: I like the 6 hour workday myself...however it does include a few hours of work at home on the weekend.
Ken Notes: I wish we had some flexibility in scheduling and compensation to offset downturns in the market. We are headed to recession and layoffs will, as in the past, create huge winners and losers. This is not good for our long term economy.
Economists and industry executives weigh in on the Fed’s decision to raise the benchmark rate by 75 basis points.
The Federal Reserve made its boldest move yet yesterday to tamp down inflation with a 0.75 percentage-point rate increase, the largest since 1994. Commercial real estate economists and executives say the industry has already seen impacts from earlier rate hikes, including higher cost of debt capital, tighter underwriting and collapsing deals as lenders and investors grow increasingly cautious.
“The rise in interest rates—and volatility more broadly—has led to a sharp uptick in cost of funds for both borrowers and lenders. As a result, lenders are reducing leverage, primarily out of concern for refinanceabilty,” Sabina Reeves, CBRE Investment Management chief economist, told Commercial Property Executive...
“The rise in interest rates—and volatility more broadly—has led to a sharp uptick in cost of funds for both borrowers and lenders. As a result, lenders are reducing leverage, primarily out of concern for refinanceabilty,” Sabina Reeves, CBRE Investment Management chief economist, told Commercial Property Executive...
RSK: Those in certain sectors of CRE that are poorly managed or over leverage will suffer the most.
Ken Notes: CRE will need private investors, public support, market sectors in demand, and competitive rates. This is still more stable than the stock market...
115 State Street
This property has it all! Fully Built out Kitchen and Bar, Walk-in Coolers, Terrific Visibility with over 53` of State Street Frontage with approximately 3M pedestrians passing your doorstep annually, additional cooler in the lower level with space for storage. Outdoor dining is made easy with existing patio furniture. FF&E is Negotiable. Space is sprinklered for Occupancy > 99 people....more
Since 1975, Flad Development & Investment Corp. has emerged as a leader in the development of quality commercial real estate projects in Madison and Milwaukee.
Century City and Culver City help lead the city’s commercial real estate market out of the 2020 pandemic dip, with low-rise compounds popular as companies look to "create an environment where their employees want to come back."
As L.A.’s commercial real estate market recovers from the massive blow of COVID, some areas are flourishing while others are stuck in a two-year slump,. “It’s somewhat of a tale of two cities, depending on which market we’re talking about,” says Jodie Poirier, executive managing director at Colliers...
RSK: Many people picked up a pet, especially dogs, during the pandemic. One way to entice them back is to have doggy day care at your building. That way they can monitor their pup on a web cam, go and visit during designated breaks and even take their pooch out for a walk during lunch hour visits....I`m all for that. Best perk you can have in my mind.
Even as companies struggle to coax employees back to the office, some bars report that their after-work crowds are nearing prepandemic levels. The postwork happy hour at some bars is nearing a semblance of prepandemic normalcy.
RSK: YESSS!!! That means people are heading back to the office at least a few days per week....or are commuting in for a half day just so they can go to Happy Hour.
Completed in 1915, and one of the tallest buildings in Madison`s downtown, the Churchill Building stands out at 16 North Carroll Street on the bustling Capitol Square. It provides exceptional views of the Capitol, and is located near some of State Street`s well-known restaurants and retail space. Additional amenities include conference space availability, on-site storage, responsive management, and surface and covered parking. Other modern amenities, such as men`s and women`s showers and secure indoor bike storage, make biking to the office an attractive option. The Churchill Building is home to local non-profits, law firms, and innovative start-ups....more
Amazon reportedly plans to get rid of anywhere between 10M SF and 30M SF of warehouse space, a move that represents a dramatic reversal for the company that has for years had the most voracious appetite for industrial real estate.But its about-face hasn`t chilled the hungry market for distribution space — on the contrary, companies that have been competing in a historically tight industrial market see the move as a window of opportunity that hasn`t been this open since the pandemic supercharged the need for dedicated logistics space...
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RSK: This is only a drop in the bucket in the whole scheme of things and no doubt will be snapped up by others. Still, it is a sign that things have slowed a bit at Amazon. Last Mile isn`t as crucial as it was before since they have little or no competition other than Walmart.
Ken Notes: I think Amazon is looking for another buy, Kohl`s comes to mind.
Lunch & Learn – Fundamentals of working with SBA loans for brokers
Join CARW for a Lunch & Learn on the Fundamentals of working with SBA loans for brokers. Attendees will learn: Common misconceptions about SBA loans What types of projects qualify for SBA loans How to anticipate common objections from lenders How SBA loans can be useful funding tools for a capital stack How you can help your clients be better equipped for success when applying for SBA loans Panelists Include: Moderated by: David Kircher – WEDA / Phoenix Advisors Introduced…
...moreKen Notes: Thank you Tracy Johnson President and CEO of CARW for keeping me in the loop.
Nancy Ruddy of CetraRuddy Architecture on reimagining office properties.
As offices begin to reopen around the country, leaders in the commercial real estate community recognize that employee expectations have fundamentally shifted, and that the workplace of the future needs to evolve to embrace and celebrate the value of coming to the office.
But recognizing the need for change is one thing; figuring out what this shift looks like is another task entirely. The starting point is already clear: The office building is no longer just a place to work. It can also encourage wellbeing and it can provide a balance in the live/work ratio of our lives. In fact, the new office must be an environment that is even better than working from home, providing opportunities for collaboration, creativity and community while also offering services and amenities that generate valuable opportunities and experiences...
But recognizing the need for change is one thing; figuring out what this shift looks like is another task entirely. The starting point is already clear: The office building is no longer just a place to work. It can also encourage wellbeing and it can provide a balance in the live/work ratio of our lives. In fact, the new office must be an environment that is even better than working from home, providing opportunities for collaboration, creativity and community while also offering services and amenities that generate valuable opportunities and experiences...
RSK: A lot of wishful thinking here but typical of dreamers for solutions...the often times forget the money aspect of their dreams. Beyond that, I do not think the office is a city within a city but more of a neighborhood within the city. They are all great ideas but some are unrealistic money wise.
Lego Group plans to build a US factory in Chesterfield County, Virginia, to better supply one of its biggest markets.
The $1 billion investment will create almost 1,800 jobs, the Danish company said.
Sales for the world`s largest toy maker jumped by more than a third for the 12 months to September last year, Insider reported, while operating profits more than doubled...
The $1 billion investment will create almost 1,800 jobs, the Danish company said.
Sales for the world`s largest toy maker jumped by more than a third for the 12 months to September last year, Insider reported, while operating profits more than doubled...
- Lego Group, the world`s largest toymaker, is building a US factory in Virginia.
- The Danish company will spend $1 billion on the plant, which it says will be carbon-neutral.
- The new factory will employ almost 1,800 workers.
RSK: That`s one way to beat the supply chain problem. I think more companies need to open factories in the USA from their foreign counterparts.
Turn-Key Fitness & Former Massage Studio
Downtown Visibility AND Parking. Suite 125 is a turn-key Fitness Studio. 3249 SF, $25-28/SF. Expansive work-out room, dressing rooms, restrooms (showers can be added), private office, and more. Suite 175 is a turn-key Massage Studio. 2130 SF, $20-25/SF with kitchen and private rooms. Enjoy business synergies with RED Sushi across the hall and various offices on the subsequent floors. Artful property as customers/clients are greeted by illuminated artwork on the property, state of the art screens in the hallway welcoming guests and sharing events, fitness room with equipment, conference room, bicycle parking for those opting for alternative transit or underground parking for your vehicle. One block from the Capitol Square...
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With the largest Real Estate Practice of any law firm in Wisconsin, Reinhart offers clients custom-tailored real estate insight.
With cases of the omicron variant on a downswing and mask mandates lifting, companies that delayed bringing workers back to the office for two long years are starting to bite the bullet. And nowhere has been more successful in bringing employees back to their desks than the Lone Star State, where major cities in the Texas Triangle — Austin, Dallas and Houston — lead the nation in office returnees, offering some lessons learned and a look into the crystal ball about how things might shake out for the rest of the country.
The short version: Things will likely level out at a 55%-65% return rate and only on some days, the claim the office must be a more appealing place than home is not hype, and friendly design and culture will be more than buzzwords going forward...
...moreRSK: Another good case of being flexible and using hybrid work, Those that want to go to the office daily can, those that wish to work from home for a few days can. It will work itself out as most things do.
BENTONVILLE, Arkansas — Walmart’s cavernous stores are known for aisles of low-priced groceries, paper towels and apparel.
Now, those big boxes are hubs for its e-commerce business, serving as launch pads for delivery drones, automated warehouses for online grocery orders and departure locations for direct-to-fridge drop-offs. Eventually, they will help pack and ship goods for individuals and independent companies that sell on Walmart’s website through its third-party marketplace....
Now, those big boxes are hubs for its e-commerce business, serving as launch pads for delivery drones, automated warehouses for online grocery orders and departure locations for direct-to-fridge drop-offs. Eventually, they will help pack and ship goods for individuals and independent companies that sell on Walmart’s website through its third-party marketplace....
Key Points
- Walmart is increasingly relying on its vast network of stores to build out its e-commerce business.
- “The
store is becoming a shoppable fulfillment center,” Tom Ward, chief
e-commerce officer for Walmart U.S., said in his first interview since
stepping into the role.
- Walmart is using its stores as launch
pads for delivery drones and departure locations for direct-to-fridge
drop-offs, and it will soon start packing and shipping third-party
sellers’ goods from stores.
- The retailer faces a stiff challenge in e-commerce, as Amazon dominates with nearly 40% market share and inflation pushes shoppers to spend more on less-profitable gas and food.
RSK: Speaking of Walmart, they may have a leg up on Amazon with their thousands of stores nationwide that can serve as eCommerce sites.
Ken Notes: Unless Amazon buys a retail outlet???
Office food has always been a “can’t miss” amenity, whether from a vending machine, or if you’re a Google employee, a gourmet cafeteria.The fight to bring workers back to the office continues.
Many companies, wary of destroying culture and suffocating creativity by having a predominantly...
...moreRSK: This might be a good idea for large companies with many employees, but the smaller ones may have to adapt to other means. Looks like a way to lure employees is about food? One other factor, many restaurants couldn`t survive the loss of customers when covid hit. So, if employees do return to the office, especially in CBD`s, there are less places to go. Lines may be long and staff shortages abound and make the 1 hour lunch more of a 1.5 hour lunch. To me, that is where employers can help..a longer lunch hour.
Pundits in financial-related markets often look in the rear-view mirror and use those statistics to project future performance. Real estate is no different. But, per the old cliche, previous history doesn’t predict future performance. An example of how the herd mentality didn’t work out might be New York City apartments, which were considered invincible until the rent regulation law change a few years ago. This shattered projections that were based on those apartments all going from rent stabilization to market-rate rents upon turnover...
RSK: One person`s opinion. Depends on where you or the property are located. You may have to venture out of your area and your comfort zone.
State Street location!
Former Five Guys space coming available October 1, 2022 on State Street.
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U L T I M A T E FRONTAGE
Enjoy the sunrise over Lake Monona with > 90` of Frontage at this newer BTS Mixed-Use development. Parking is made easy with both Covered Parking and an additional parking lot or access the Bike Path on the same block! This space bridges E. Washington, Williamson/Atwood and the First Settlement District which is ideal for pedestrian traffic and >28,500 VPD. Enjoy Built-In Customers with 55 Beds at the property. Design the space to fit your needs. Ask me about the $10,000 grant!...more
Second Floor Office/Retail Space for Lease
Retail/office building in a great location three private offices on the second floor. High visibility with good traffic counts on East Washington and easy access to/from Highway 151 and I-90. Abundant on-site parking. Several private offices, large conference room, open work area, breakroom/kitchen area in each office. Views of East Towne mall. Additional nearby businesses include, Noodles and Company, Great Clips, Moka Coffee, Concentra Health, UPS store, and more. Ideal location for a cosmetic/beauty spa, financial firm, law firm, graphics company and many more. Monument and on-building signage available for tenants facing E Washington Avenue Highly trafficked with 38,600 AADT on E Washington Ave...more
High Point Office Park is an 11-building, 217,418 square foot office park located in one of Madison, Wisconsin’s finest western locations.
E-commerce is shaking up the upper ranks of the top retailers in the United States.Amazon will overtake Walmart to become the largest retailer in the United States by 2024, and add more than $294 billion in U.S. sales between 2021 and 2026, according to an annual report by Edge by Ascential.
The report predicts that the top three retailers in the United States by 2026 will be Amazon, Walmart and Costco, with 14.9%, 12.7% and 4.4% of the retailer market share, respectively. The Home Depot and The Kroger Co. round out the top five....
RSK: I am not totally convinced of this. I think it will be closer than their data suggests.
Amazon was the first to announce plans to sublet warehouse space, but other Fortune 500 retailers are expected to return space to the market as well.
Over the last decade, first-mile warehouses have evolved from traditional, 31-ft.-clear-height facilities with 500,000 to 1 million square feet into 60-foot clear-height, automated, artificial intelligence-managed behemoths of well over 3 million sq. ft. spread over three mezzanine levels. ..
RSK: The supposed real story behind Amazon shedding warehouse space. The like the newer more efficient buildings and are shedding the oldest in duplicated markets. We shall see, but the author at this juncture doesn`t see it as a warning but a watch if you relate it to weather terms.
More than 360,000 people left California in 2021, in what some are calling “The California Exodus” — many leaving for states like Texas, Arizona and Washington.And a rising number of former Californians are migrating out of the country altogether and are instead heading south of the border. Many are seeking a more relaxed and affordable lifestyle in Mexico...
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RSK: Moving to Mexico? Did I miss something?
Amazon Style is officially open.The approximate 30,000-sq.-ft., two-level store — Amazon’s first brick-and-mortar location dedicated to apparel and accessories — is located at The Americana at Brand, an upscale lifestyle center in Glendale, Calif. Featuring a sleek, modern design, Amazon Style offers men’s and women’s apparel from a wide assortment of popular and premium brands that range from Calvin Klein and Levi’s to Vince, Equipment and Theory. The selection also includes brands never before featured in a physical store, such as CRZ Yoga, and top Amazon brands including Amazon Essentials, The Drop, Amazon Aware and more....
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RSK: Even the ultimate on-line retailer is going to brick n mortar again proving that physical presence not dead.
Ken Notes: I still think Amazon will make a play for Kohl`s...
Retro Schenks Corner Office/Retail
Great space in Schenks Corners. Suite redone. Kitchenette, conference room one private office. Basement of 1,400 sf. 2 off street parking spaces....more
Market Street Diner/Bakery
Turn Key Restaurant building with drive thru and complete bakery in lower level, w/ locker rooms and bathrooms. Each floor has over 5490 sq. ft plus elevator. Adjacent Municipal parking lot plus 7 on site stalls. Patio. Building could be converted to other uses such as legal or accounting offices. Plans available. Agent has small interest in property...
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* Large conference room
* Furniture negotiable
* Easy access for bike and bus traffic
* Close proximity to State Street and local restaurants and retailers
* Sublease expiration 2/28/2024
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The Atwater
Presenting The Atwater, McFarland`s newest retail / restaurant development anchored by Grace Coffee. Up to 8,500 sq. ft. (divisible) available in the spring of 2023. Outstanding visibility and access from Farwell St.(two blocks from the McFarland High School). Large outdoor patio space along Farwell Street. Call broker for more details...
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Like the hybrid Prius, the hybrid event rose to fame, but now faces an uncertain future.In-person events seem to be making a strong comeback among brands and event planners, even with Covid cases rising in certain places. This year’s SXSW, as well as the IAB upfronts and NewFronts, were held as hybrid events.
As in-person events become normalized again, some experts predict the term “hybrid” will fall by the wayside. But that doesn’t mean the option to attend virtually is going anywhere...
RSK: I agree...people are moving back to attending in person, but having it virtual is still a good thing and on demand may be even better.
Canopied parking lots fitted with solar panels could anchor vehicle charging stations and microgrids.
You slog under a hot sun across an unending asphalt parking on a simple quest to pick up a jug of milk at your local big-box store. Now, ask yourself: How much solar electricity could that huge lot generate?
The short answer is a lot, if the sun were captured by the large canopies that now sprawl across parking lots to protect shoppers from rain, snow, and heat...
...moreThe short answer is a lot, if the sun were captured by the large canopies that now sprawl across parking lots to protect shoppers from rain, snow, and heat...
RSK: You could also set up panels on the top of parking ramps and other places. But what I like about this is baby steps, then walk with it unlike pushing everyone into EV`s or else as is the current administrations program is.
Ken Notes: It is frustrating that the path of least resistance in farm fields for solar arrays, when roof tops and parking lots actually benefit from the cover...
TORONTO — When the COVID-19 pandemic struck and many abandoned in-person shopping and dining out, brick-and-mortar retail became one of the most undesirable assets in Canada.But now, as many Canadians no longer fear congregating and vaccine passports have been dropped, real estate firms say retail and restaurant chains are scrambling to pick up space again.
"There`s been a fairly ugly period brought on by COVID, where there was a lot of uncertainty surrounding where physical retail fits within the consumer landscape, and even before COVID ... because of e-commerce," said Jonathan Gitlin, chief executive of RioCan Real Estate Investment Trust...
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RSK: Our neighbors to the North are on a good brick and mortar track.
* Large conference room * Furniture negotiable * Easy access for bike and bus traffic * Close proximity to State Street and local restaurants and retailers * Sublease expiration 2/28/2024...more
Completed in 1915, and one of the tallest buildings in Madison`s downtown, the Churchill Building stands out at 16 North Carroll Street on the bustling Capitol Square. It provides exceptional views of the Capitol, and is located near some of State Street`s well-known restaurants and retail space. Additional amenities include conference space availability, on-site storage, responsive management, and surface and covered parking. Other modern amenities, such as men`s and women`s showers and secure indoor bike storage, make biking to the office an attractive option. The Churchill Building is home to local non-profits, law firms, and innovative start-ups...
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
Tourists, office workers and New Yorkers from other neighborhoods are returning to — and enjoying — the heart of the city....more
RSK: Well, this is good news if it can last. The same is happening in downtown Madison and State Street, albeit to a much lesser degree....but the vibe is coming back.
Placer.ai adds new markets to remote work metrics...
Placer.ai is expanding into the increasingly in-demand space of tracking office usage — or, as some wags might say, office emptiness.
The data analytics firm started publishing data on San Francisco and Chicago this month, and has plans to expand to other markets in the near future. It had previously tracked only New York City.
The data analytics firm started publishing data on San Francisco and Chicago this month, and has plans to expand to other markets in the near future. It had previously tracked only New York City.
Of the three markets tracked, year-over-three-year monthly total visits to office buildings in San Francisco were down by 67.8 percent in May, while the drop-off in New York and Chicago was less pronounced at 40.6 percent and 45.7 percent, respectively. The markets did show improvement from earlier in the year. Office foot traffic in Chicago increased each month between February and May, and New York City improved each month between February and April. San Francisco’s office usage declined during April...
RSK: Too bad the author doesn`t have some suggestions of what the new office normal might be,.
426 Gammon Place
Former 2,000 sq. ft. Profile By Sanford space for lease. Outstanding visibility from Gammon Road and Mineral Point Road in the shadow of the West Towne Mall. Beautifully built out space with high end finishes. The space is currently laid out perfectly for a vet clinic, chiropractor, dentist or specialty medical user. 7.75 / 1000 parking ratio with low parking co-tenants....more
Across from Golf Course on newly revamped Monona Dr. Many suite sizes available from 100 sf up to 2,300 sf. Spaces can be combined for smaller/larger suites. Plenty of parking and new improvements going in. Rates from $10-$12 per sf. Common Conference room. 3 floors with elevator. Easy access to beltline and interstate, downtown.
...moreState Street location!
Former Five Guys space coming available October 1, 2022 on State Street....more
The second Amazon Style store is slated to open in fall 2022.The newest location for the Amazon Style concept, which is designed to combine the personalization of e-commerce with the immediacy of brick-and-mortar shopping, will be at Easton Town Center in Columbus, Ohio. Amazon opened the first Amazon Style store in May 2022 at The Americana at Brand, an upscale lifestyle center in Glendale, Calif.
How it works
Amazon Style distinguishes itself from traditional clothing stores with high-tech flourishes. Most of the clothing is out of sight and kept in the back of the store, with only one sample of each item displayed on the sales floor. The format allows Amazon Style to offer more than double the number of products offered for sale in a fashion store of its size...
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RSK: I called this a few weeks ago.....don`t be surprised if you see more college towns open up a Brick n Mortar Amazon.
Ken Notes: My crystal ball says Amazon will buy a brick and mortar giant (Kohl`s???) when they figure out what works....
Chalk one up for the good guys – a multimillion dollar retail theft operation in New York City has been busted.As the result of a three-year joint investigation conducted by the New York Office of the Attorney General’s (OAG) Organized Crime Task Force (OCTF) and the New York City police department’s Grand Larceny Division, an organized crime operation that stole and resold millions of dollars in goods is shut down...
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RSK: This is just a drop in the bucket for smash and grabs....but it sends a signal.... finally!
Supply chain issues continue to consume the U.S., but while many struggle to adapt, a relatively new company is finding original approaches in manufacturing and distribution.Bill Thayer and Rob Caucci founded Fillogic in 2018. Described as a provider of localized logistics and a logistics-as-a-service platform for retail, Fillogic takes underutilized spaces in retail centers, primarily shopping malls, and converts them into tech-enabled micro-distribution hubs. ...
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RSK: I never heard of this company but what a great niche. They had growth over 9,000%!
The following tips will help you find the storage space you need in a tight market.
Warehouse vacancy in the U.S. reached 4.1 percent in the first quarter of 2022 and is even lower in major markets and near ports.
With industrial real estate demand expected to far outweigh supply for a few more years at a minimum, finding new warehouse space can feel pretty intimidating.
The following tips will help you find the storage space you need in a tight market.
With industrial real estate demand expected to far outweigh supply for a few more years at a minimum, finding new warehouse space can feel pretty intimidating.
The following tips will help you find the storage space you need in a tight market.
4 Tips for Finding a Warehouse in a Low-Vacancy Market..,
Tip #1: Look at options off the beaten pathTip #2: Commission a new constructionTip #3: Use a third-party logistics providerTip #4: Work with an experienced industrial real estate broker
RSK: Fairly basic but yes, by all means, if you do not use any other hint be sure to find a good industrial broker...
Sponsor
Offering real estate services and design-build construction solutions for growth oriented clients... ...more
Eclectic Schenks Corners. A bit of old and new mixed in the build out. Up to 2 bays remain 940 sf &1,680 sf. 1,680 sf is perfect for a coffee shop with old brick & beams exposed. Spaces can be combined. Tenant pays utilities. Exposed brick, heating, wood, skylights and more. 2 Units have basement for use.
Also:
Building For Lease: 2015 Winnebago St 101 Madison WI
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“It’s slow progress, but retailers’ interest in urban corridors is returning and deal volume is inching up, while shoppers, workers, travelers and diners return to city life,” according to a new report from real estate services firm JLL. Are they right?The report finds more workers heading into the office, although well below pre-pandemic rates. Since March, the average occupancy rate for security firm Kastle Systems’ 10-city average has hovered at around 43 percent of their pre-pandemic occupancy level, up from 17.5 percent at the start of the year. Recent analysis by The Wall Street Journal found cities with longer commutes have taken the biggest economic hit, while urban areas where people live closer to work have a higher return-to-office rate...
RSK: It is slowly progressing but I do not think it will be back to pre-pandemic speed for a long time, if ever.
Just off E. Washington behind the new Hy-Vee. Many suite options ranging from 150 sf to 1,880 sf with rates from $10.00 to $14 gross, depending on size term and TI`s. Landlord pays all. On bus line. Great for non profits, small office/service reps. Interstate and airport a minute away. Agent interest. Controlled storage also available for pharmaceutical reps, suppliers etc...
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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 for just $15 for new listings (If it is put into the Cirex Guide no extra charge) and $25 for a banner ad (also free to Guide advertisers).
call 608-345-2880...
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The Gialamas Company`s premier development. The park has over 57 buildings containing 200+ companies, occupying over 3.0 million square feet.
Ruedebusch Development & Construction, Inc. is a highly qualified, vertically integrated full service commercial construction, and real estate development company located in Madison, Wisconsin which offers:
- Commercial Real Estate Development
- Design Build Construction
- Commercial Real Estate Brokerage
- Economic Development, Commercial Real Estate, and Facility Consulting
"The attention to detail, preventative maintenance, and proactive communication exhibited by MIG makes them a true business partner."
Professional Real Estate Management and Sales
Expect Professional Management with a Personal Touch
with every T. Wall Urban Village.
(608) 575-1018 or Contact@TWallEnterprises.com
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Our focus is your focus, our goals are your goals.
For lease on Medical Circle - Up to 4,902 SF Available
- Currently being remodeled with new elevator
- Open floor plans
- Under new ownership
- Beltline visibility & monument signage
- Plenty of parking
call Mike Herl
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NAI Global is a leading global commercial real estate brokerage firm with over 400 offices worldwide and annually completes more than $20 billion in property-related transactions...
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Five flex/R&D buildings - 138,000+ sq. ft. - Hwy 51 and Hoepker Road - High End Image - Affordable and Flexible Floor Plans - Warehouse - R&D, Light Manufacturing - Showroom
Keller Real Estate Group Understands Local Business Real Estate Needs
