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Ralph Kamps
JULY 2025 Lease Asking Rates
This Weeks Articles for 7/22/2025 ...
- Welcome To Halftime: 40 CRE Execs Talk Tariffs, Delays — And A Year That Hasn`t Gone To Plan...
- How Madison is paying to convert urban farmland to affordable housing ...
- The Majority Of Fortune 100 Companies Now Mandate Full-Time Office Return...
- U.S. Office Sales Jump Nearly 70% As Investors Focus On Trophy Assets ...
- Has The Data Center Craze Created a New Bubble?...
- US tech companies renew push to own their office real estate...
- 2025 Construction Perspective...
- DOE to drop accessibility requirement for buildings receiving federal funds ...
- Why AI Will Finish The Office Sector Transformation The Pandemic Started ...
- City of Madison, UW-Madison Update Neighborhood Indicators Project Data...
- Starbucks orders some employees to relocate to headquarters, targets remote work ...
- Madison Common Council Approves Housing Proposals...
- Vacant Retail Space On The Rise As Tariffs, Closures Leave A Mark ...
- Janesville hopes to attract data center proposals for abandoned GM site...
- New Tax Law Makes Opportunity Zones Permanent, Helping Advisors Find Tax Breaks for Clients...
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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...
Welcome To Halftime: 40 CRE Execs Talk Tariffs, Delays — And A Year That Hasn`t Gone To Plan
Well, that was one hell of a first half. Back in January, the pregame talk echoed with bravado. Fifty-six industry titans had just told us that once the U.S. presidential election dust settled, interest rates would drift lower, capital would unfreeze and 2025 would be the year to thrive.
Six months, 166 executive orders, a flurry of ever-changing tariffs, frozen interest rates and one big, beautiful bill later, the mood has clearly shifted. Everyone knows who to thank — or blame.
RSK: Good snapshot on what the thoughts of CRE practitioners are at halftime in 2025.
ABSTRACT Commercial Real Estate LLC
 Rare Downtown Investment Opportunity 115 W Washington Ave, Madison, WI |
 2865 SF Office for Lease | Downtown! 119 W Washington Ave, Madison, WI |
See All Listings Here...
...Full Story HereHow Madison is paying to convert urban farmland to affordable housing
Twenty-five acres of farmland on Madison’s east side may soon become more than 1,000 new units of housing, including 20% for high-demand, affordable housing.
But fulfilling those plans could rely on an unusual, tax-funded deal brokered this year by the property’s developer and city leaders.
The city has essentially agreed to designate the Milwaukee Street property a special tax district and then buy part of the property with increased taxes generated by its development. While most of the property could turn into market-rate homes, the city’s part would be reserved for affordable units...
...Full Story Here
RSK: That site has been up for development for quite some time. Good to see some progress starting to take shape.
ARTIS REIT / Madison Lifestyle Office Portfolio
The Majority Of Fortune 100 Companies Now Mandate Full-Time Office Return
For the first time since the pandemic redefined work habits, a majority of Fortune 100 companies now require full-time office attendance, according to a new report by JLL. Hybrid models, once embraced by 78% of top firms, have plummeted to just 41%. Meanwhile, 54% now mandate full in-person work, a significant increase from just 5% two years ago.This shift is reshaping the commercial real estate landscape. Office occupancy climbed 1.3% year-over-year in April and May, and the demand for high-end office space is surging. JLL reports that trophy buildings in markets like Miami, NYC, and San Francisco are achieving record-breaking rents, with newly constructed office space averaging $92.38 per square foot.
RSK: I wouldn`t rule out hybrid work just yet, but it will take a lesser role.
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"
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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
U.S. Office Sales Jump Nearly 70% As Investors Focus On Trophy Assets
Trophy assets in bustling U.S. markets have become an increasingly hot commodity as investment in the office sector surges nationwide.
Office sales grew 69% nationwide over the last four quarters compared to the year prior, according to a new report from Avison Young. Of the $40.8B worth of offices that changed hands, 71% were trophy or Class-A spaces.Much of that activity came in the fourth quarter, which had more than $15B of transactions, up from about $8B in Q4 2023.
The increase in sales has been especially sharp in the California markets.
RSK: Some investors are going all out for trophy office properties but the majority of office sales are still owner occupied.
Commercial Brokers Group
28th Commercial Brokers Group Scholarship Golf Outing
Monday, August 18, 202
Make your plans now to attend the 28th Commercial Brokers Group Scholarship Golf Outing on Monday, August 18, 2025 at Bishops Bay Country Club Golf Course, Middleton. This fun-filled afternoon will include 18 holes of golf, prizes, lunch, dinner and drink tickets. You can set up your own foursome or we’ll happily assign you to one. This year, we’re offering a new purchase option which includes a 4-some and hole sponsorship!
The Golf Package Includes:
- 18 holes of golf with cart
- Box Lunch and Dinner
- Beverage tickets
- Golf goodies
- Team prizes
- Hole prizes
- Great Networking and lots of fun!...
Has The Data Center Craze Created a New Bubble?
RSK: It just might be a tad overheated. Plus, many municipalities are not keen on permitting for data centers and the huge electric power draw on the grid is still is a problem.
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.
US tech companies renew push to own their office real estate
Global tech companies` interest in expanding their national office footprints appears to have turned a post-pandemic corner.
From Silicon Valley to New York, some of the biggest names in the industry have renewed a push to operate as their own landlords as opposed to leasing space in buildings, closing some of the largest purchases so far since the pandemic and adding to the rebounding momentum for the United States office market.
Companies such as Apple, LinkedIn, Amazon and San Francisco-based financial technology firm LendingClub have in recent months collectively closed roughly $1 billion in deals, often taking advantage of the stressed office market by scooping up properties that otherwise may have been out of their financial reach...
RSK: Tech companies are going the same way as office users...owning their real estate instead of leasing
CARW 2025 Events and Resources
Ken Notes: Thank you Tracy Johnson President and CEO of CARW for keeping me in the loop.
2025 Construction Perspective
How is the construction industry faring in 2025 and how has the outlook changed? JLL`s 2025 Construction Perspective U.S. Midyear Update examines how CRE stakeholders are moving their decision making beyond reactivity, how project-specific risks are being assessed, and how we’re preparing for local impacts of national policy.
The report analyzes construction spending, material costs and changes in the construction labor force. It provides essential insights for navigating a period of extensive uncertainty.
...Full Story Here
RSK: JLL midyear synopsis on construction costs and labor....not looking pretty.
Knight Barry Title Group
MADISON: 2450 Rimrock Road, Suite 204, 608-255-2700
CAP SQUARE: 44 E. Mifflin Street, Suite 101, 608-255-2700
DOE to drop accessibility requirement for buildings receiving federal funds
The U.S. Energy Department calls a decades-old accessibility provision redundant in a rule rescission taking effect soon.
The agency on May 16 used what’s known as a direct final rule to announce it’s rescinding a rule that’s been on the books since the 1970s requiring any building receiving federal funds, whether for new construction or undergoing renovation, to be made accessible...
...Full Story Here
RSK: I would still think smart operators would have some assesabitly in their construction...it would put them heads above those that do not. Thoughts on this?
Reinhart
With the largest Real Estate Practice of any law firm in Wisconsin, Reinhart offers clients custom-tailored real estate insight.
Why AI Will Finish The Office Sector Transformation The Pandemic Started
Corporate office occupiers didn’t know it at the time, but the pandemic gave them a head start on the artificial intelligence revolution. RSK: The future trend people. If your kids are going to college make sure they get a useful degree and not just political science or sociology or underwater basket weaving. The workforce is changing.
Park 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 |
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City of Madison, UW-Madison Update Neighborhood Indicators Project Data
New data on housing, health and more in the City of Madison are now available as part of the latest update to the Neighborhood Indicators Project (NIP)(link is external).The 2024 NIP update includes several new metrics, including:
- Community Safety and Disorder Police Calls
- Median Rent
- Areas of Limited English Proficiency
- Alternative Transportation to Work
RSK: Worth a read. You can probably draw your own conclusions from the data. It does help to show the need in some areas....but just throwing money at something as discussed will not change much of the conclusions.
Colliers|Wisconsin
 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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...Full Story HereStarbucks orders some employees to relocate to headquarters, targets remote work
Starbucks is mandating the return of some remote workers to its headquarters and increasing the number of days that corporate employees must work in an office, the Associated Press reports. The Seattle-based company is among many reevaluating their work-from-home policies, which rose in popularity during the COVID-19 pandemic.
Brian Niccol, Starbucks chairman and CEO, said today in a letter to employees that corporate workers would be required to be in the office four days per week beginning in early October. That’s up from the current requirement of three days per week.
It also said that all corporate “people leaders” must be based in either Seattle or Toronto within 12 months — a change from February, when it required the same only from vice presidents.
While individual employees working under those leaders would not need to relocate, all hiring for future roles and lateral moves will require the workers to be based in Seattle or Toronto...
...Full Story Here
RSK: The "Back To The Office" (BTTO) continues. Good news for the office sector and those services and shops surrounding those office hubs.
Investors Associated
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...Full Story HereMadison Common Council Approves Housing Proposals
Tonight, the Madison Common Council unanimously approved three proposals designed to make it easier to build a range of homes, increase flexibility for homeownership, and make it easier to permit small and mid-sized buildings downtown.
“I want to thank my colleagues on the Common Council for collaborating on these sensible efforts to provide more housing options for Madison residents and for the community support for these proposals. By simplifying our processes and enacting forward-thinking policies, we are ensuring that everyone in our city can live and thrive in the neighborhood of their choosing,” said Mayor Satya Rhodes-Conway. “These are significant steps, but we need to continue making progress to increase housing choices in Madison. Working with the Council, we plan on introducing additional pro-housing policies this fall to continue our work on this important issue.”
The proposals approved by the Common Council include:
- Allowing more property owners(link is external) with deep residential lots to split their lots to create one or more “Backyard Lots” to support the creation of more homes.
- Allowing two units of housing(link is external) on any residentially zoned lot to support the creation of more duplexes and homeownership opportunities.
- Streamlining downtown zoning rules(link is external) to better align with other parts of the city.
...Full Story Here
RSK: Every drop in the bucket adds up.
RASCW Events
Wednesday, August 20, 2025
(1:00 PM - 5:00 PM) (CDT)
Get ready for our annual Bocce & Backpacks Tournament, held at the East Side Club in Madison! Join us for an afternoon of friendly competition, networking, and giving back to support foster care children in the RASCW area.
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 HereVacant Retail Space On The Rise As Tariffs, Closures Leave A Mark
"Store closing" sales are going to become more common in 2025 as leasing activity continues to slow and scores of retailers go out of business.Leasing has fallen 20% this year compared to this time in 2024, Cushman & Wakefield reports.
RSK: Well located strip malls are still doing well.
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.
Janesville hopes to attract data center proposals for abandoned GM site
Several interested developers contacted city officials, other uses for the site are still in the picture
Once, thousands of workers built tractors and trucks on the General Motors site in Janesville. Now, saplings grow among its concrete rubble.
In the future, at least part of the site could host a very different user — a data center.
Janesville Economic Development Director Jimsi Kuborn will ask the City Council on Monday to open a 30-day window for proposals from data center developers interested in the 240-acre site..
...Full Story HereRSK: Well, if you first don`t succeed, try, try again. It does have some potential no question but maybe not a data center site...
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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New Tax Law Makes Opportunity Zones Permanent, Helping Advisors Find Tax Breaks for Clients
Among the many provisions in the massive One Big Beautiful Bill Act passed into law this month is the permanent extension of the Opportunity Zone program, along with some tweaks to how they work. Making the program permanent and allowing investors to participate on a five-year rolling basis should make it more attractive for financial advisors looking for tax breaks for their clients, since they will no longer have to worry about an upcoming sunset date. However, in the short term, the timing of the rollout of the updates will likely mean lower demand for OZ investments, industry insiders say...
...Full Story Here
RSK: Some good news however, a lot of questions remain on implementation etc. Stay tuned on this one.
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
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