CirexNews - CRE and Investment News
Click to View Online...
This Week - Notes - Search - Index - Share 
Ralph KampsJuly Lease Asking Rates
...Full Story HereRalph Kamps
Editor CirexNews
608.345.2880
Ken Harwood
Publisher CirexNews
608.334.2174
July Lease Asking Rates
This Weeks Articles for 7/23/2024 ...
- New Cottage Grove Amazon distribution facility set to break ground in September...
- Culver’s Franchise – Costs, Fees & Earning Stats...
- New Mag Mile Office-To-Residential Conversion Proposed As Chicago Accelerates Downtown Reimagining ...
- Office Visits Continue to Improve...
- Eggs Up Grill hits 80 locations with more planned for year...
- Real Estate’s Shift to EV Charging Faces Major Hurdles...
- FACT SHEET: President Biden Announces Major New Actions to Lower Housing Costs by Limiting Rent Increases and Building More Homes ...
- Tender Greens and parent company One Table Restaurant Brands file for bankruptcy...
- RSK: Not sure many people will blame him for heading to Texas....
- Vacant Office Buildings Converted Into Homes...
- Research: solar power for data centers in cold climates...
- Construction Spending Expected To Rise As Material Costs Ease and Contractors Compete for Work...
- Biden Ends Reelection Campaign Built On Legislative Agenda With Big Implications For CRE ...
New Listings
Building for lease Active
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...
New Cottage Grove Amazon distribution facility set to break ground in September
MADISON, Wis. (WMTV) - After a two year delay, a new Amazon distribution facility in Cottage Grove is breaking ground this September. The 3 million square-foot facility will be located at the intersection of highways N and TT.The distribution center is expected to generate more than $5 million in property taxes each year and will provide between 1,000 to 1,500 jobs. Amazon economic development manager Jason Vangalis said the facility will also play a part in regionalizing deliveries.
”We regionalized our network, so before when you would purchase anything from Amazon, it might come from Phoenix. It was ‘how quickly can we get it to you’? Now it’s a 6 to8 regions market, so its going to come from within a 4 to 5 state region,” said Vangalis.
Following the delays, the building agreement was amended, extending the completion deadline from 2026 to 2028...
RSK: Always delays but it is underway. We shall see how the transportation traffic affects the area. More details to come.
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 |
|
|
See All Listings Here...
...Full Story HereCulver’s Franchise – Costs, Fees & Earning Stats
Culver’s is a Wisconsin-based franchise of restaurants specializing in American comfort food, including burgers, sandwiches, salads, and frozen custard. The company was founded in 1984 by Lea and Craig Culver. Today there are hundreds of locations across the United States.When considering opening a Culver’s franchise, it’s important to be aware of the costs and fees associated with doing so. In this article, we’ll break down the franchise fee, the estimated total investment, and the potential earnings you could see as a Culver’s franchisee.
Is Culver’s a franchise or chain?
Culver’s is one of America’s favorite restaurants and what many people don’t realize is that Culver’s is actually a franchise. While the company does own some locations outright, the majority of Culver’s restaurants are independently owned and operated by franchisees. This franchise model has been successful for Culver’s, allowing them to expand slowly and still maintaining a high level of quality control...
RSK: Just about everything you want to know about starting up a Culver`s franchise....just about...
RASCW Events
RPAC Golf Outing
Thursday, August 1, 2024 (1:00 PM - 4:00 PM) (CDT)
Description
Join us at Pioneer Pointe for RPAC’s biggest fundraiser and to invest in the REALTOR® party.
RPAC enables REALTORS® to support issues that are important to their profession and livelihood.
...Shotgun start at 1:00pm. Your $100 donation goes to YOUR Direct Giver account (per golfer) and includes 13 holes of golf & cart. Teams of 2 or 4 may sign up!...
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.
New Mag Mile Office-To-Residential Conversion Proposed As Chicago Accelerates Downtown Reimagining
A largely vacant office building on the Magnificent Mile may become an apartment building as Chicago further establishes itself as a U.S. leader in office-to-residential conversions.
Commonwealth Development Partners, a Connecticut-based developer and investment firm, is aiming to convert most of 500 N. Michigan Ave. into 320 units, Crain`s Chicago Business reports. The company is under contract to purchase the 24-story building from a group of international investors that put it on the market in 2022, sources told Crain`s.
Commonwealth`s proposed project would convert floors six through 23 into residential units while adding rooftop amenities and a terrace, while the first two floors would remain retail and commercial space, Crain`s reports. Floors three through five would remain office space, and the building`s height would grow from 303 to 321 feet.
The project would be the latest in a string of conversions in Chicago as the city looks to repurpose office stock that continues to hit record levels of vacancy...
Commonwealth`s proposed project would convert floors six through 23 into residential units while adding rooftop amenities and a terrace, while the first two floors would remain retail and commercial space, Crain`s reports. Floors three through five would remain office space, and the building`s height would grow from 303 to 321 feet.
The project would be the latest in a string of conversions in Chicago as the city looks to repurpose office stock that continues to hit record levels of vacancy...
RSK: I am hoping this works. The TIF doesn`t seem to be enough to have the projects make sense, but I am sure the developers have done their due diligence. Good luck.
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
W3731 State Highway 23, Montello WI
Evergreen Office – Two Suites – 558 Grand Canyon Dr
636 S Main St, Montello WI
SEE ALL LISTINGS HERE
...Full Story Here
Office Visits Continue to Improve
How leading cities fared last month, according to the latest data from Placer.ai.
Office visits continue to creep back to prepandemic levels, according to Placer.ai, which reported that nationally, visits in June were down only 29.4 percent compared to June 2019.
Looking at markets, Miami is closest to returning to 2019 figures as its visits were down by just 9.8 percent in June compared to June 2019. In New York City, visits were down 14.2 percent, driven by strict return-to-office policies on Wall Street.
RSK: Tiny steps but encouraging. Still, the downsizing continues.
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
Eggs Up Grill hits 80 locations with more planned for year
An egg-centric fast-casual chain is planning to expand its store count in 2024.South Carolina-based Eggs Up Grill has announced the signing of four new franchise groups so far this year, and adding more than 15 commitments to its development pipeline. Eggs Up Grill has opened nine locations year-to-date, recently celebrating its 80th restaurant in Bristol, Va. The chain is on track for 14 additional openings in 2024, with more than 100 under development or committed to open this decade...
RSK: I sure miss the old "Egg and I" in the Arboretum Business Center off Todd Dr and the beltline. Perfect location for a breakfast mtg or appointment. Alas, only open for breakfast/brunch was not enough income to sustain and it closed after 5 years....I helped them price and put it on the market. Was a sad day.
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.
Real Estate’s Shift to EV Charging Faces Major Hurdles
There are significant advantages to installing electric vehicle charging
stations at commercial properties. But it isn`t always as easy as
sticking a few charging stations into the parking lot. Property owners
are discovering noteworthy barriers to adding EV charging
infrastructure, the most considerable one being limitations of the
electric grid. A survey by Xendee... ...Full Story HereRSK: This administration`s push to skip the hybrid vehicle and go full bore ahead has caused a major setback in the EV market. Toyota had it right with its hybrid models and that step will give time to get into full electric vehicles....too many problems with the grid and charging stations to name just a few as well as the batteries, mining etc...
CARW 2023 Events and Resources
CARW Golf Outing – The River Club of Mequon
August 12 @ 9:00 am - 6:00 pm
When:
Monday, August 12th, 2024
Monday, August 12th, 2024
Where:
The River Club of Mequon
12400 N Ville Du Parc Dr, Mequon, WI 53092
Agenda
9:00a.m. Registration & Boxed Lunch
11:00a.m. Shotgun Start
5:00p.m. Cocktail Reception
6:00p.m. Dinner & Awards
...Full Story Here11:00a.m. Shotgun Start
5:00p.m. Cocktail Reception
6:00p.m. Dinner & Awards
Ken Notes: Thank you Tracy Johnson President and CEO of CARW for keeping me in the loop.
The Gialamas Company, Inc.
 1255 Fourier Dr Madison, WI |
 8000 Excelsior Dr Madison, WI |
 918 Deming Way Madison, WI |
 8020 Excelsior Dr Madison, WI |
See All Listings Here...
...Full Story Here
The Gialamas Company`s premier development. The park has over 57 buildings containing 200+ companies, occupying over 3.0 million square feet.
FACT SHEET: President Biden Announces Major New Actions to Lower Housing Costs by Limiting Rent Increases and Building More Homes
President Biden calls on corporate landlords to cap rent increases at 5% and takes action to make more public land available for housing
President Biden is taking action to make renting more affordable for millions of Americans. Today, President Biden is announcing new actions to lower housing costs, including:
- Calling on Congress to pass legislation giving corporate landlords a choice to either cap rent increases on existing units at 5% or risk losing current valuable federal tax breaks;...
RSK: The White House rent control outlined. This is a very political move for votes, since in a recent survey, 80% of economists said no, it will not solve the problem and may even make it worse, 2% said it would help the rest not sure...
Key Commercial Real Estate, LLC
See All Listings Here...
Tender Greens and parent company One Table Restaurant Brands file for bankruptcy
Tender Greens and its parent company (which also owns Tocaya) filed for Chapter 11 protection and is considering a sale of its assets
The string of bankruptcies continues for the restaurant industry in 2024, as the Southern California-based salad and bowls concept, Tender Greens, and its parent company, One Table Restaurant Brands (also parent company to fast-casual Mexican chain, Tocaya), filed for Chapter 11 bankruptcy protection on July 17 and July 18, respectively.
Together, Tender Greens and Tocaya operate around 40 locations, mostly in California. According to bankruptcy documents, the Los Angeles-based One Table Restaurant Brands has an estimated $10 million to $50 million of liabilities, with under $50,000 of assets, and is considering a sale in the form of an auction or stalking horse bidder...
Together, Tender Greens and Tocaya operate around 40 locations, mostly in California. According to bankruptcy documents, the Los Angeles-based One Table Restaurant Brands has an estimated $10 million to $50 million of liabilities, with under $50,000 of assets, and is considering a sale in the form of an auction or stalking horse bidder...
RSK: With the price of food skyrocketing, hard to find help and the consumers staying because of this, you have to provide excellent food and experience, not just another run of the mill joint, or you will join this group of failures.
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 | |
|
|
|
|
|
See All Listings Here...
...Full Story HereRSK: Not sure many people will blame him for heading to Texas.
Two major technology companies will move their headquarters from California to Texas, according to their CEO, Elon Musk.The mercurial billionaire posted on the X social media platform he will relocate SpaceX, the private space company Musk founded in the San Francisco Bay Area in 2022, from its longtime home state.
He also revealed plans to move the social media company formerly known as Twitter to Austin.
The decision came, Musk wrote, after California Gov. Gavin Newsom signed a bill that bans schools from telling parents about students receiving gender-affirming care....
RSK: Not sure many people will blame him for heading to Texas.
Reinhart
With the largest Real Estate Practice of any law firm in Wisconsin, Reinhart offers clients custom-tailored real estate insight.
Vacant Office Buildings Converted Into Homes
In recent years, many former office buildings have been renovated into apartments, driven by the COVID-19 pandemic’s lasting shift to work from home. Office vacancies hit a record 20.1% in the United States in the second quarter of this year, according to a recent report from Moody’s Analytics. This is up from 19.8% in the prior quarter and is the first time the 20% barrier has been broken.With supply of homes also persistently below demand, local governments have increased incentives, including tax breaks and quicker approval processes, for office building conversion, CNN reported. In the first quarter of this year, 1.7% of total U.S. office supply was in the process of being redeveloped for other uses, according to a recent report from CBRE. Approximately 120 office-conversion projects nationwide—one-third of them to multifamily—are expected to be completed this year, compared with an annual average of 45 between 2016 and 2023. This pipeline indicates higher-than-average conversion completions during the next several years...
RSK: Empty office space lowers the value of the buildings which in turn lowers the taxes paid by the owner. This shortfall is often made up by passing it onto homeowners. Nothing good from vacant buildings. Why many municipalities offer incentives to convert those vacant buildings into a higher and better use.
Commercial Brokers Group
CBG 27th Annual Golf Event 8/19/24
August 19, 2024
10:00 a.m., 11:00 shotgun start
Bishops Bay Golf Course
10:00 a.m., 11:00 shotgun start
Bishops Bay Golf Course
Wisconsin Commercial Real Estate
 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 HereResearch: solar power for data centers in cold climates
A recent international study, conducted in Finland and northern Japan, analyzed how solar PV could be utilized to power data centers in cold climate regions, along with the utilization of the data center waste heat.The study `Potential of solar photovoltaics and waste heat utilization in cold climate data centers. Case study: Finland and northern Japan` in Renewable and Sustainable Energy Reviews assessed the potential of solar PV systems and waste heat utilization in cold climate data centers, with a case study analyzing the costs and benefits of these technologies in different sized DCs located in both Finland and northern Japan.
...Full Story Here
RSK: Be interesting to see the cost payback in a city like Minneapolis in the dead of winter. But anything to lighten the load on the grid would be helpful.
Park Towne Realty LLC
 7031 River Rd DeForest, WI |
 402 Gammon Pl Madison, WI |
 6730 Odana Rd Madison, WI |
 1117 River Rd DeForest, WI |
|
|
|
|
 6808 Odana Rd Madison, WI |
See All Listings Here...
Construction Spending Expected To Rise As Material Costs Ease and Contractors Compete for Work
JLL Predicts 2024 Spending on Construction Projects Will Be Higher Than 2023
Spending on large U.S. commercial construction projects should rise slightly through the rest of 2024 as certain building materials become more affordable and contractors cut prices to replenish depleted project pipelines.
Construction spending is expected to rise 5.5% from last year to $2.13 trillion in 2024, according to the JLL 2024 Midyear Construction Update issued on Tuesday. JLL had earlier forecasted total construction spending to be flat for 2024 but revised the estimate upward based on its indicators for building materials and general contractors’ bidding patterns...
RSK: That is one piece of the puzzle but how about another piece...interest rates?
Food Fight
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.
Food Fight gift cards make a great gift for anyone
Gift cards can be redeemed at all of our restaurants for dine-in visits or call-in carryout orders, and they never expire ...Full Story HereMullins Group LLC
 2 E Mifflin St Madison, WI |
 22 E Mifflin St Madison, WI |
 152 W Johnson St Madison, WI |
 1400 E Washington Ave, Madison, WI |
 10 W Mifflin St Madison, WI |
|
|
|
See All Listings here...
Biden Ends Reelection Campaign Built On Legislative Agenda With Big Implications For CRE
President Joe Biden has ended his reelection campaign, a historic
move that puts the Democratic ticket up in the air with less than four
months until Election Day.
Biden faced mounting pressure from Democratic leaders calling on him to step aside after his performance in a June 27 debate raised concerns about his age.
“It has been the greatest honor of my life to serve as your president,” Biden wrote in a letter posted on social media Sunday. “And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term.”...
“It has been the greatest honor of my life to serve as your president,” Biden wrote in a letter posted on social media Sunday. “And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term.”...
RSK: These programs might have contributed to inflation? They were one of the major reasons for it...
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 |
 |
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
Betty Thompson Realty
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