CIREX News & Views – November 20, 2018

Wishing all of you a safe and happy Thanksgiving from the Cirex News Staff!


The Top 20 U.S. States People Are Moving To

Which states are seeing the most inbound population movement? A report put together by long-distance moving service provider Stevens Worldwide looks at the data…

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RSK: Well, Wisconsin didn`t make the list but…wait for it…Illinois did? What the….!

Ken notes: We should be on this list, but we need an economic development policy that is fair and available to all companies. Now business, and developers look at Wisconsin, see Foxconn, and say well I can`t really compete with that.

As developers we should seek a seat at the table in the new administration and ask for an economic policy that we can offer to our potential clients. We do not have much time…


CBG NOTES: events

CBG Annual Holiday Party & Meeting

Date: Tuesday, Dec 11th from 4-7
Location: Lucille, at 101 King Street

Time: 04:00 PM

Event Details:

Save the date for our annual Holiday Cocktail Party & meeting with hors d`oeuvres and alcoholic refreshments. More details to follow. We hope you can join us from 4 p.m. to 7:00 p.m. on Tuesday, December 11. This is one of the most well attended events of the year for CBG members, affiliates, and their guests. We`ll have a short meeting and then it will be time to celebrate with your friends and colleagues. Contact Wendy with any questions at 772-0060.

Congrats Deal of the year winners…  Presentation Here!

   …more

Ken Notes: If you need to update or place an event in CirexNews or WisconsinDevelopment.com give us a call… Ken 608.334.2174

The Gialamas Company, Inc.


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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.


A Curated Collection Of Interesting Reactions To Amazon`s HQ2 Announcement

Amazon announced Long Island City in Queens, New York, and Crystal City in Arlington, Virginia, as the new sites for its second headquarters, a project it dubbed HQ2 when it announced a site search in September 2017.

Amazon says it will now invest a combined $5B into these markets and expects to create at least 50,000 jobs across the two new locations…

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RSK: This is very very interesting. Some consider themselves lucky they didn`t get the bid and can save all those tax incentives. Others, such as Toronto are looking on the bright side and have noticed an uptick in information requests for relocating to that city. What are your thoughts on this?


Building For Sale: Paoli Creamery — 6858 Paoli Rd

7.5 Acres on the Sugar River in Paoli, this 10 unit mixed-use commercial/residential bldg has 10 unique, large units many with high vaulted ceilings overlooking the Sugar River. No one unit is alike. 7.5 acres, makes room for additional units or building, C1 zoning allows many uses. Real Estate only for sale. Building is fully leased. 48-hour notice for showings 10-12 on Tues & Thurs. Proof of funds availability needed…

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Ken Notes: Now this is a destination property!


Mid-America Real Estate Group

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Mid-America Real Estate – Wisconsin, LLC offers the same high level of service in property leasing, asset management, tenant representation and investment sales for which Mid-America has become known.


Ambitious thinking: Smart cities

Job growth is happening in both the CBDs and the suburbs. But educated adults are increasingly city dwellers, seeking walkability, authenticity, and collaboration. As economic recovery and expansion continue across most sectors and regions, competition for talent is intensifying, increasing pressure on employers to differentiate based on location, amenities, and environment. Now more than ever, it`s critical that real estate investors, developers, and decision-makers understand which cities and suburbs are experiencing job growth and attracting highly-educated talent.

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RSK: Midwest seems to have the least educated professionals. But is the cause because of agriculture and industry? How about skilled labor as well? Maybe Madison is an anomaly but I can think of other cities where they have major Universities in the Midwest. Hmmm. Are we educating and then exporting? Always seems to be a problem.


NOVEMBER! 2018 – Cirex Digital Version

  • Hundreds of property listings, organized for easy browsing.
  • New properties are featured every month.
  • Property/Drive CIREX Members alphabetically listed in our extensive directory.

   …more


Hoepker Corporate Center / St, Johns Properties

St. Johns
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Hoepker Corporate Center -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


My NYC Real Estate Tech Week 2018 Summary. The Bright Lights. The Big City. And…

Well, well, well, and if you could hear my voice saying that it would sound like a gravely blues singer. Why, because it’s been a long week, to say the least, and screaming over music and noise just to talk will make your voice wear down and lower a few octaves no matter what.

So let’s get this started with the same thing I always say. This is MY experience and these are my observations about NYC Real Estate Tech Week 2018. MINE, not YOURS. You would think at this point it would be mute but in the world we live in today…not so much.

Kicking off the week was Technology and Collaboration in the Built Environment Presented by Propmodo hosted by Convene right in the middle of Times Square….

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RSK: The Dukester`s take and rewind of CRE Tech Week NY, NY.


T. Wall Enterprises

Expect Professional Management with a Personal Touch
with every T. Wall Urban Village.

(608) 575-1018 or Contact@TWallEnterprises.com

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The Missing Ingredient Of Building Valuations. Guest Post Lauren Long

One of the largest meetups of commercial real estate professionals concluded last week in New York City. Propmodo kicked it off with “Technology and Collaboration in the Built Environment” at the beautiful 4 Times Square building followed by a packed CRE-focused agenda hosted by MIPIM PropTech and MetaPropNYC.

With over 2,000 attendees from around the world, the conversations held on stage and amidst cocktail tables did not disappoint. However, the discussions were almost without an important perspective – those who know buildings best…

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RSK: Very nicely penned!


How the Stock Market’s Wild Ride Could Affect CRE Investment

Stock market volatility may spur investors to allocate more funds to direct ownership of real estate.

The stock market’s recent rollercoaster, with October’s sharp correction followed by a post-midterm election surge, can put the investment community on edge, including commercial real estate investors.

“People who invest in real estate don’t invest in a vacuum,” says Mark Dotzour, a real estate economist who spent 18 years as chief economist of the Real Estate Center at Texas A&M University before opening a private consultancy three years ago…

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RSK: I have to agree with this. CRE prices have risen at an astronomical rate and the yields for the purchaser have plummeted.


High Point Office Park

Affordable. Versatile. Excellent visibility. A unique gem tucked alongside Madison’s West Beltline Highway 12/14…


Coworking On Track For Even More Growth Because Companies Like Its Flexibility

Coworking is moving from the likes of WeWork into the mainstream of global corporate culture, according to a new report by Knight Frank.

The company queried 120 global companies, finding that space-as-a-service is rapidly becoming a new normal, as exemplified by the growth of coworking space.

Recent estimates suggest that there are now almost 18,000 co-working spaces around the world, Knight Frank reports, accommodating almost 1.7 million workers. These totals represent staggering growth of 3,500% and 8,000%, respectively, since the early 2010s…

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RSK: Co-Working is a growing Phenom….. but for me, I still need a bit of privacy to get my work done!

Ken Notes: Remember your office space is about your work style. Do not build based on what works for others build based on what works for you and your team. One caveat, nicer office space with amenities and social space does increase productivity…


2018 Event Calendar

Opportunity Zones – What are they and how do they work?

November 28 @ 8:00 am9:30 am

Congress created the federal Qualified Opportunity Zone (“QOZ”) program in the 2017 “Tax Cuts and Jobs Act” to encourage economic growth in underserved communities through tax benefits to investors. U.S. states and territories, including Washington, DC, nominated areas (by census tract) to be designated as QOZs in 2018, and the IRS and Treasury finalized the designations that year. This program presents opportunities for real estate investment and development in distressed communities.

Join us for our program led by Husch Blackwell’s Rebecca Mitich and Hal Karas. We will be introduced to how the program works including who benefits from the program and why. We will review the zones in and around Milwaukee and the assets in those zones and discuss what investors and developers are doing with OZ funds now.

REGISTER HERE 

WHEN

Wednesday, November 28
8:00 – 9:30 AM
8:00 – 8:30 AM Registration

8:30-9:30 AM Program   …more

RSK: A list of CARW Events and CE.


Reinhart Boerner Van Deuren s.c.


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


As Demand for Office Space Moderates, Some CBD Markets May Experience Outsized Loan Losses

A new report from Moody’s warns that about 23 percent of CBD office collateral included in CMBS loans is in weaker CBD markets.

Office assets in central business districts (CBDs) have enjoyed an impressive, eight-year run of robust demand and growth in both rents and valuations and are considered a low-risk bet for capital investment.

CBD office markets have benefited from the expansion of the co-working sector and a desire by millennials to live near where their work, as well as from empty nesters relocating to the cities from the suburbs, notes Stephen Shapiro, senior managing director of the New York capital markets and investment services group with Colliers International…

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RSK: I just don`t see this happening here in our small market. Downtown is too entrenched and too much happening. The only thing that might change this is that bad transportation infrastructure we have and mass transit. Beltline is a mess at rush hour as well.


RASCW Events and updates

2019 RASCW Commercial Real Estate Forecast
Wednesday, January 23, 2019

TDS Conference Center, 525 Junction Road, Madison
Registration 1:00 pm • Program 1:30 pm

Networking Reception to follow…

New Developments for Commercial Brokers 2018 Review

Adam Sayer, Director of Planning and Development, City of Verona
click here for presentation

Michael Zimmerman, Assistant City Administrator/Director of  Community & Economic Development, City of Fitchburg
click here for presentation

Mike Davis, City Administrator, City of Middleton
click here for presentation

Tax Reform, Josh Ganshert, Baker Tilly
click here for presentation

Key Legal and Regulatory Updates, Tom Larson and Cori Lamont, Wisconsin REALTORS® Association
click here for presentation

   …more

RSK: In case you missed the RASCW Commercial Update Seminar a link to the powerpoint presentations is above. Worth the time to go over it.


Knight Barry Title Group

                       608-255-2700  www.KnightBarry.com

   …more

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


Starwood CEO Barry Sternlicht: `The Endgame For Amazon Is To Wipe Out Main Streets Of America`

Starwood Capital Group CEO Barry Sternlicht was not happy about Amazon`s HQ2 decision and is sharply critical of the way fellow billionaire Jeff Bezos runs his company. The real estate executive also believes President Donald Trump`s immigration policies are hurting the U.S. economy, and he predicts a recession will come in 2020.

Sternlicht shared his strong opinions on these and other topics in a phone interview with Bisnow Thursday afternoon. The CEO will speak on Nov. 28 at Bisnow`s Multifamily Annual Conference East in Tysons, Virginia, alongside Greystar CEO Bob Faith, with whom he co-founded Starwood in 1991. Sternlicht has since grown Starwood to a global giant with over $50B in assets under management, including major holdings in multifamily, hospitality and other sectors. This interview has been edited and condensed for clarity…

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RSK: I hate to tell you this Barry, but Main Street was wiped out of retail a long time ago. Now it is Boutique shopping and restaurants. People enjoy the camaraderie and the experience…what Malls are trying to do and Amazon may never do…unless they go to Brick n Mortar.


FoodFight Restaurant Group – WELCOME


Our roster of restaurants reads like a who`s who of Madison`s favorite eateries: From Monty`s Blue Plate Diner, to The Avenue Bar, to Steenbock`s on Orchard, each is unique in its atmosphere and menu and each is the best at what it does!
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Landlords Look To Curate Tenant Mix So Companies Can Financially Benefit One Another

Office landlords need to provide more than just a roof over workers` heads. They now also need to use their real estate to impact their tenants` bottom lines.

During Bisnow`s Atlanta State of the Market event Thursday, Transwestern Senior Managing Director Clark Dean said office landlords need to start viewing their buildings as “business ecosystems that are carefully curated to create specific value” for tenants.

“Now [landlords] can start thinking about what businesses want to be part of that business ecosystem to drive value for them to where the value and business starts to transcend the rent,” Dean said…

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RSK: It would be nice to have the right tenants lined up at the door to create such an eclectic cohesive mix…but knowing Landlords… space cannot stay vacant for too long. A bird in the hand…

Ken Notes: I just said this…


Crown Commercial Real Estate/Development, LLC


Offering real estate services and design-build construction solutions for growth oriented clients…   …more


Building For Lease: 4005 Felland Rd Madison W

4005 Felland Road, Suites 100-102, Madison, WI, End Cap!, 5355 square feet, Available November 1, 2018.

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Recent sponsors below…

Thanks you for sponsoring CIREX and Cirexnews.com
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MIG Commercial Real Estate


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“The attention to detail, preventative maintenance, and proactive communication exhibited by MIG makes them a true business partner.”


Evans Properties, LLC.


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Professional Real Estate Management and Sales


ARTIS REIT / Madison Lifestyle Office Portfolio


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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.


Newmark Grubb Gialamas


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Newmark Grubb Gialamas specializes in investment sales, office, retail, industrial, land, multi-family properties and 1031 exchanges. Our knowledgeable, local brokers are subject experts in their field.


IA Management


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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.


Wisconsin Commercial Real Estate


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Our focus is your focus, our goals are your goals.


Madison Commercial

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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Masters-hall Appraisal


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Ruedebusch Development & Construction

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

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CIREX News & Views – November 13, 2018

Madison Area Lease Rates

Asking rates Office from 11/01/12 – 11/30/18

Office Rates | East: $12.72 | Central:$18.26 | West: $14.71

Asking rates Office Warehouse from 11/01/12 – 11/30/18

Office/Whse Rates | East: $6.13 | Central: $8.31 | West: $6.69

Asking rates Retail from 11/01/12 – 11/30/18

Retail Rates | East: $12.36 | Central: $21.09 | West: $16.15

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RSK: Courtesy of Cirex & Property Drive…


CBG NOTES: events

CBG Annual Holiday Party & Meeting

Date: Tuesday, Dec 11th from 4-7
Location: Lucille, at 101 King Street

Time: 04:00 PM

Event Details:

Save the date for our annual Holiday Cocktail Party & meeting with hors d`oeuvres and alcoholic refreshments. More details to follow. We hope you can join us from 4 p.m. to 7:00 p.m. on Tuesday, December 11. This is one of the most well attended events of the year for CBG members, affiliates, and their guests. We`ll have a short meeting and then it will be time to celebrate with your friends and colleagues. Contact Wendy with any questions at 772-0060.

Congrats Deal of the year winners…  Presentation Here!

   …more

Ken Notes: If you need to update or place an event in CirexNews or WisconsinDevelopment.com give us a call… Ken 608.334.2174


Landlords And Developers: Chill, You Don`t Need The Most Advanced Smart Buildings

You could forgive office owners and developers for having sensor envy. Given the hype around smart buildings and the way that technology will change the workplace, and hence offices, it would be easy to think you need to have the smartest, most technologically advanced building to have any chance of finding a tenant in the future.
Actually, just chill and don’t overdo it was the message from one of the world’s biggest professional services firms and office occupiers and other members of a panel on smart buildings and flexible working at Bisnow’s London State of the Market event…

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RSK: I agree…unless you can afford it. Guess it is like getting the latest iPhone…do you really need it?


The Gialamas Company, Inc.


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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.


Facebook opens small business pop-ups in nine Macy`s stores

Facebook is bringing around 100 digital-native brands and small businesses that have found success on the social network and Instagram to physical retail locations. It`s opening pop-ups at nine Macy`s stores as the holiday shopping season gets underway.

The Facebook Small Business Pop-ups opened Monday in New York City, Pittsburgh, Atlanta, Fort Lauderdale, San Antonio, Las Vegas, Los Angeles, San Francisco and Seattle, and they will be available until early February. The brands featured at the pop-ups include Love Your Melon, an apparel brand that`s helping the fight against pediatric cancer; Charleston Gourmet Burger Company, which sells a burger marinade; and Two Blind Brothers, a clothing company that donates all of its profits to research for a blindness cure.

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RSK: One of the stanchions of internet-based marketing going brick n mortar? Yes!

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Breathing new life into Madison’s most distressed areas

Private investment into economically disadvantaged “Opportunity Zones” could be the key to new growth in Greater Madison.

Thanks to a new economic development tool created under the 2017 Tax Cuts and Jobs Act, Greater Madison could soon see some changes to some of the region’s most economically challenged areas.

The Opportunity Zones program is designed to spur private investment in distressed communities by allowing private investment through tax incentives that are designed to accelerate economic growth and job creation.

In March 2018, 120 areas of Wisconsin were deemed eligible for the program based in part on the number of low-income households in each area, including 11 in Dane County.

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RSK: Great article by In Business Mag on this subject…definitely worth the read.


Building For Sale: Paoli Creamery — 6858 Paoli Rd

7.5 Acres on the Sugar River in Paoli, this 10 unit mixed-use commercial/residential bldg has 10 unique, large units many with high vaulted ceilings overlooking the Sugar River. No one unit is alike. 7.5 acres, makes room for additional units or building, C1 zoning allows many uses. Real Estate only for sale. Building is fully leased. 48-hour notice for showings 10-12 on Tues & Thurs. Proof of funds availability needed…

   …more

Ken Notes: Now this is a destination property!


Digital meets physical in the retail experience of the future

The future of retail isn’t robots, lasers and holograms — it’s experiences, service and speed, all powered by subtle technologies that the customer barely sees. With a background that includes innovations like the interactive mirrors found at Rebecca Minkoff and Ralph Lauren, ZIVELO CEO Healey Cypher is helping create the behind-the-scenes tech that brings the best of the online world into physical retail…   …more
RSK: Brick n mortar retail and on-line shopping keep morphing…love it. Not quite there yet, however.

Ken Notes: I delivered a Keynote for an Illinois chamber dinner titled It is no longer Location, Location, Location it is Destination, Destination, Destination and the experience when you get there! – The new retail…


Mid-America Real Estate Group

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Mid-America Real Estate – Wisconsin, LLC offers the same high level of service in property leasing, asset management, tenant representation and investment sales for which Mid-America has become known.

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Blistering Demand For Industrial Space Drives Up National Occupancies, Sets Off A Wave Of Development

U.S. industrial absorption is on track to finish 2018 with its third-strongest net occupancy growth this cycle, behind only 2016 and 2014, according to Cushman & Wakefield`s Q3 2018 report on the industrial market. That finding agrees with other recent assessments of the market…Moreover, the outlook is bright for more occupancy growth across all classes of industrial product. The combination of limited new product and high utilization rates for existing footprints will mean strong performance for Class-A product, but also improved performance for Class-B and C product. ..

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RSK: I would assume this is because one sector cannibalizes another.


NOVEMBER! 2018 – Cirex Digital Version

  • Hundreds of property listings, organized for easy browsing.
  • New properties are featured every month.
  • Property/Drive CIREX Members alphabetically listed in our extensive directory.

   …more


From Gentrification To Lack Of Guidance, Investors Express Concerns With Opportunity Zone Program

Commercial real estate owners, developers, brokers and investment managers have a variety of concerns about the new Opportunity Zone program that gives a tax break to investors who invest through an opportunity fund into a designated opportunity zone. More than 200 of them shared those concerns in Bisnow`s recent survey about the program.

One survey participant called the program “gentrification on steroids.” 

Another respondent said the nuances of the program — even with a new round of guidance from the U.S. Department of the Treasury — are still confusing and may turn off investors…

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RSK: The National look at Opportunity Zones….in other words, it is still in its infancy and not much guidance out there at the moment.


Hoepker Corporate Center / St, Johns Properties

St. Johns
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Hoepker Corporate Center -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


Focus: Ahold ups stakes in U.S. grocery war with mini-“robot supermarkets”

EINDHOVEN, Netherlands/NEW YORK (Reuters) – Grocery group Ahold Delhaize will roll out small, automated warehouses to speed order picking and cut delivery times, Reuters has learned, as it revamps its ecommerce business in response to rising competition in a fast-growing sector.    …more
RSK: Wonder if this would work here. I assume it might with careful planning and locations.


The Unisphere: Largest Commercial Net Zero Building in the United States

United Therapeutics (UT) is a publicly traded biotech company with a mission to develop treatments for rare diseases. UT has an overarching commitment to environmental sustainability, which is reflected in the design and operations of our facilities. It strives to create practical, beautiful and inspiring spaces for employees to do their incredibly important work. UT views its buildings as physical manifestations of its values, and there is no better such example than the Unisphere. It is designed to be site net zero energy, meaning that the building generates enough renewable energy onsite to offset 100% of the energy that it consumes over the course of the year. At 135,000 square feet, it is the largest commercial net zero building in the United States. 

To achieve the net zero goal, the facility includes various sustainable features including 3,000 photovoltaic panels, geo-exchange wells, a high-performance curtainwall with electrochromic glazing, an earth-coupled heating/cooling system, an automated natural ventilation system, daylight harvesting, and a thermal pool. Other features include green roof terraces that help reduce rainwater run-off, electric car charging stations, and eco-friendly furniture.

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RSK: Wow!


T. Wall Enterprises

Expect Professional Management with a Personal Touch
with every T. Wall Urban Village.

(608) 575-1018 or Contact@TWallEnterprises.com

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Starbucks To Open 2,100 New Locations In 2019 After Strong Quarter

Just four months after announcing it was pumping the brakes, Starbucks is back to ramping up its footprint with an aggressive expansion plan.

The coffee giant plans to open 2,100 net new stores in the United States and China in the 2019 fiscal year, UPI reports. The new growth plan is driven by a strong quarter, the results of which the company released on Thursday

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RSK: That is very aggressive on expansion. As my Mother used to say, “Not for all the tea in China” I guess it is “…for all the coffee in China” now.

Ken Notes: Did I mention destination retail is about the experience????


How Offices Will Look In 2025

The world of work is constantly changing and new trends emerge every month. How will the digital age impact offices? And what will they look like come 2025?

Our turbulent relationship with the office is on a downturn — we just don’t love it right now. Increasingly, we are led to reimagine unconventional spaces that enable us to work in a more flexible, less restricted manner. In an effort to appeal to the largest segment of the workforce, traditional offices are being dismissed as millennials enforce their combined work and leisure values, and thrive in open spaces…

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RSK: Interesting about high-end restaurants opening their doors during the day for co-working space….hmmm.


High Point Office Park

Affordable. Versatile. Excellent visibility. A unique gem tucked alongside Madison’s West Beltline Highway 12/14…


After A Cautious Start, Dollar General Poised To Invade Cities With Its DGX Concept

As a budget chain, Dollar General has had its best success in rural and suburban markets, but now the chain is looking to make deeper inroads into cities, even into gentrifying urban cores better known for hipster boutiques. The chain has rolled out a new concept to do so: DGX.

So far there are only three DGX stores nationwide, compared with about 15,000 standard locations. But Dollar General Corp. CEO Todd Vasos wants to open another 13,000 stores in the coming years.

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RSK: 13,000 new DGX stores? I thought Starbucks was being aggressive!

Ken Notes: Living in Albany, DG is the ONLY store and the experience is pretty good. Like our Kwik Trip, I see a market for these. In fact I would love to know how the Madison Kwik Trip is doing…


Building For Lease: Waunakee Business Center – 204 Moravian Valley Rd C-E Waunakee WI

Waunakee Business Center consists of four office-warehouse buildings totaling more than 156,000 sq. ft., located 10 minutes north of the City of Madison, in Dane County, WI. The business center is located on Hwy 19 one-mile west of the Hwy 19 & Hwy 113 Intersection, just 10 minutes from Dane County Airport and Middleton, WI.

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2018 Event Calendar

Wisconsin New Developments in Commercial Real Estate (Course 3)

November 15 @ 8:00 am11:30 am

Course highlights new commercial legislation and revised forms and focuses on pending and proposed legislative and regulatory changes, as well as other potential changes to licensing regulations for commercial real estate.

Dates: November 15 | Time: 8:00-11:30 a.m.
Instructor: Cori Lamont, Wisconsin REALTORS® Association (WRA)

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RSK: A list of CARW Events and CE.


Reinhart Boerner Van Deuren s.c.


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


PointGuard. Building Analytics With Real Empowermant, Real Performance, Real Profits.

Abundant Power is proud to announce the launch of PointGuard, their rebranded analytics arm. Abundant Power started in 2009 as a specialty finance firm for funding energy efficiency projects. Through that endeavor, the company was looking to find transparency and business case data for those projects — leading to the creation and development of an analytics platform in 2015.

The platform offers powerful analytic tools to help improve building performance, by capturing all the points coming from BMS data and using customized algorithms to turn it into meaningful information. The platform is used by facility teams, mechanical controls contractors, and building portfolio owners…

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RSK: If you are in property management or an owner for that matter….read this.


RASCW Events and updates

Save the Date
2019 RASCW Commercial Real Estate Forecast
Wednesday, January 23, 2019

TDS Conference Center, 525 Junction Road, Madison
Registration 1:00 pm • Program 1:30 pm

Networking Reception to follow…

Annual Membership Meeting 2018

November 15 @ 8:00 am10:30 am

Sheraton Madison Hotel – 706 John Nolen Dr

Please join us for our Annual Membership Meeting. You will hear from our RASCW and SCWMLS Presidents as they share their state of the organizations. Our guest speaker is Mike Theo, WRA President and CEO.  Recognition and awards will also take place.  Registration deadline is November 7.

Please see the event flyer for all the details.

Annual Membership Meeting 2018

New Developments for Commercial Brokers 2018 Review

Adam Sayer, Director of Planning and Development, City of Verona
click here for presentation

Michael Zimmerman, Assistant City Administrator/Director of  Community & Economic Development, City of Fitchburg
click here for presentation

Mike Davis, City Administrator, City of Middleton
click here for presentation

Tax Reform, Josh Ganshert, Baker Tilly
click here for presentation

Key Legal and Regulatory Updates, Tom Larson and Cori Lamont, Wisconsin REALTORS® Association
click here for presentation

   …more

RSK: In case you missed the RASCW Commercial Update Seminar a link to the powerpoint presentations is above. Worth the time to go over it.


Knight Barry Title Group

                       608-255-2700  www.KnightBarry.com

   …more

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


Opportunity Zones PDF

This document contains proposed regulations under section 1400Z-2 of the Code that amend the Income Tax Regulations (26 CFR Part 1). Section 13823 of the Tax Cuts and Jobs Act, Pub. L. No. 115-97, 131 Stat. 2054, 2184 (2017) (TCJA), amended the Code to add sections 1400Z-1 and 1400Z-2. Section 1400Z-1 provides procedural rules for designating qualified opportunity zones and related definitions. Section 1400Z-2 allows a taxpayer to elect to defer certain gains to the extent that corresponding amounts are timely invested in a QOF.
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RSK: The government`s viewpoint on Opportunity Zones rules and regs.


Building For Lease: Waunakee Business Center Moravian Valley Rd & Frank H St Waunakee WI

“New Construction” flex building available for lease Fall 2018, space available 2,525-40,733 square feet, build-to-suit offices, dock & drive-in loading, 16` clear ceiling height, wet sprinkler.

   …more


FoodFight Restaurant Group – WELCOME


Our roster of restaurants reads like a who`s who of Madison`s favorite eateries: From Monty`s Blue Plate Diner, to The Avenue Bar, to Steenbock`s on Orchard, each is unique in its atmosphere and menu and each is the best at what it does!
   …more


Qualified Opportunity Zones

What are they?

Congress created the federal Qualified Opportunity Zone (“QOZ”) program in the 2017 “Tax Cuts and Jobs Act” to encourage economic growth in underserved communities through tax benefits to investors. U.S. states and territories, including Washington, DC, nominated areas (by census tract) to be designated as QOZs in 2018, and the IRS and Treasury finalized the designations that year. This program presents opportunities for real estate investment and development in distressed communities.

How does the program work?

Forming an Opportunity Fund:

Fulfilling the “90% Assets” Requirement:

QOZ Business Property Requirements:

What are the tax benefits?

For capital gains reinvested into an O Fund:

For future capital gains on investments accrued while in an O Fund:

   …more

RSK National Realtors look at Opportunity Zones.


Building For Lease: Waunakee Business Center 204 Moravian Valley Rd Waunakee W

Suite C-E, 2400 square feet of warehouse with 3 dock doors. 6600 square feet of open concept with 16` ceiling and AC for light production, showroom or office use.

   …more


Crown Commercial Real Estate/Development, LLC


Offering real estate services and design-build construction solutions for growth oriented clients…   …more


Building For Lease: Waunakee Business Center II 201 Moravian Valley Rd Suite D-E Waunakee W

201 Moravian Valley Rd. Ste. D-E Waunakee, WI. 6,000 SF total with 1,200 SF Office & 4,800 SF Warehouse. Dock Door and Drive-in ramp, 16 foot clear ceiling height.

   …more


Recent sponsors below…

Thanks you for sponsoring CIREX and Cirexnews.com
   …more


MIG Commercial Real Estate


   …more
“The attention to detail, preventative maintenance, and proactive communication exhibited by MIG makes them a true business partner.”


Evans Properties, LLC.


   …more
Professional Real Estate Management and Sales


ARTIS REIT / Madison Lifestyle Office Portfolio


   …more

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.


Newmark Grubb Gialamas


   …more
Newmark Grubb Gialamas specializes in investment sales, office, retail, industrial, land, multi-family properties and 1031 exchanges. Our knowledgeable, local brokers are subject experts in their field.

idstr=870′


IA Management


   …more
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.

idstr=1509′


Wisconsin Commercial Real Estate


   …more
Our focus is your focus, our goals are your goals.


Madison Commercial

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

   …more


Masters-hall Appraisal


   …more


Ruedebusch Development & Construction

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

   …more

CIREX News & Views – November 7, 2018

The US`s biggest mall operator says the mall of the future `doesn`t need department stores` (SPG)

  • Simon Property Group, the biggest US mall operator, has been under pressure in recent years due to the rise of e-commerce.

  • Sears, once America`s most iconic retailer — which has numerous stores in Simon Property Group`s malls, recently filed for bankruptcy.

  • CEO David Simon said the department store closures are good for the whole industry and the mall of the future doesn`t need big-box department stores.

  • Watch Simon Property Group trade live here.

   …more

RSK: I would say it could be a mixed bag…some of the owners will be better off because they can charge higher rents while others will have more vacancy which would even out the increase in rates.

Ken Notes: I did a keynote speech on this a few weeks back… It is now about Destination! Destination! Destination!…


CBG NOTES: events

CBG Annual Holiday Party & Meeting

Date: Tuesday, Dec 11th from 4-7
Location: Lucille, at 101 King Street

Time: 04:00 PM

Event Details:

Save the date for our annual Holiday Cocktail Party & meeting with hors d`oeuvres and alcoholic refreshments. More details to follow. We hope you can join us from 4 p.m. to 7:00 p.m. on Wednesday, December 11. This is one of the most well attended events of the year for CBG members, affiliates, and their guests. We`ll have a short meeting and then it will be time to celebrate with your friends and colleagues. Contact Wendy with any questions at 772-0060.

Congrats Deal of the year winners…  Presentation Here!

   …more

Ken Notes: If you need to update or place an event in CirexNews or WisconsinDevelopment.com give us a call… Ken 608.334.2174


The Gialamas Company, Inc.


   …more
The Gialamas Company`s premier development. The park has over 57 buildings containing 200+ companies, occupying over 3.0 million square feet.


Developing the Warehouse of the Future

Forget about the land-hogging facilities situated in the middle of industrial parks in rural and suburban areas. The warehouse or distribution center of tomorrow could extend vertically into the sky, be manned by robots, and situated in metropolitan areas where real estate is at a premium.

A multistory warehouse where forklifts move from floor to floor via elevator. A B2B distributor that uses drones to deliver from the rooftop of its own distribution center (DC) directly to a retail store’s rooftop in the middle of New York City. A “lights-out” warehouse where robots roam the floors 24/7, fulfilling orders and packing boxes….


   …more

RSK: Eventually you will see this in our market especially with the rise of Amazon and other large on-line retailers.

Ken Notes: Here is my crystal ball prediction. I think you will see Ikea/Menards like complexes with display space over / near warehouse space with a restaurant and other amenities on site. It is all about the destination experience…


Building For Sale: Paoli Creamery — 6858 Paoli Rd

7.5 Acres on the Sugar River in Paoli, this 10 unit mixed-use commercial/residential bldg has 10 unique, large units many with high vaulted ceilings overlooking the Sugar River. No one unit is alike. 7.5 acres, makes room for additional units or building, C1 zoning allows many uses. Real Estate only for sale. Building is fully leased. 48-hour notice for showings 10-12 on Tues & Thurs. Proof of funds availability needed…

   …more

Ken Notes: Now this is a destination property!


Shake Shack Turns to Growth After Challenging Quarter

Even though Shake Shack ended the third quarter with same-store sales down 0.7 percent, the company remains positive as it looks toward the future. The chain said it still expects to end 2018 strong and is looking ahead to massive growth opportunities domestically and internationally over the near future.

With an aggressive expansion strategy, changing labor and operation costs, the decrease of about $500,000 during the third quarter is a small setback for the brand’s long-term growth strategy, it said. Also contributing to the decline in sales was a drop of 4 percent in guest traffic.

   …more

RSK: They are looking to expand so if you have a space in a high traffic visible location give them a jingle or drop them an email.


Mid-America Real Estate Group

   …more
Mid-America Real Estate – Wisconsin, LLC offers the same high level of service in property leasing, asset management, tenant representation and investment sales for which Mid-America has become known.


Technology Is Changing Property Management – “The Late Bloomer” And 5 Emerging Features. Guest Post Keith Pelatowski.

t’s a large and yet slowly moving asset class – commercial real estate that is. Property management is a traditionally conservative segment within the real estate industry, yet nonetheless a critical part in the ownership and investment of a portfolio. While automation and innovation are quickly becoming common and expected in other segments of the real estate industry, the ability of technology to bring speed and efficiency to the property management segment has been challenged. That is changing. Moving forward, management teams who embrace software technology to optimize the process, create streamlined workflows, and boost overall team productivity, will create a real competitive advantage, and also reduce wasted costs and effort.

Proptech makes everyday jobs easier, less costly, and faster – and improves tenant satisfaction!

“Proptech” is short for property management technology. The role of technology as a daily tool is increasing, as the sector is maturing.

1. Geo-location of assets and repairs on-site.

2. Tenant portal for optimizing the tenant experience and satisfaction.

3.Real-time tracking execution of work and service requests through team portals.

4. Data storage via The Cloud – capture, store, and plan by capturing all asset data in one single location.

5. Customized Reporting Tools – at your fingertips.

   …more

RSK: Number 3 is a huge problem. We were just discussing this the other day.


NOVEMBER! 2018 – Cirex Digital Version

  • Hundreds of property listings, organized for easy browsing.
  • New properties are featured every month.
  • Property/Drive CIREX Members alphabetically listed in our extensive directory.

   …more


Mall of America has splashy plans for water park upgrade; nonprofit financing proposed

BLOOMINGTON, Minn. – Plans for a large water park attached to the Mall of America have been updated for a special meeting Thursday at which the Bloomington Port Authority and City Council will discuss the project.

Dubbed the South Loop Water Park, it would cover more than 250,000 square feet and be one of the largest in North America. A hotel would also be built as part of the project. The water park would be open to the public and not just hotel guests….

   …more

RSK: Oh Lord….can you see something like this at East or West Towne Malls?

Ken Notes: Destination, Destination, Destination… I have a speech if you want to hear it…


Hoepker Corporate Center / St, Johns Properties

St. Johns
   …more
Hoepker Corporate Center -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


Apartment Construction Begins to Slow Down

Apartment developers took out fewer building permits in September, stymied by rising interest rates and construction costs.

Apartment building developers may finally take a breather in their rush to build new units.

“Starts will begin to slow down soon, translating into more moderate development activity by late 2020,” says Jeanette I. Rice, Americas head of multifamily research for CBRE Research.

There are still hundreds of thousands of new apartments already under construction, scheduled to open over the next year or so. But rising interest rates, rising construction costs and already tough lending standards are making it more difficult for developers to keep building at the rate they have been…

   …more

RSK: I think it is just a general slowdown after the torrid pace of the last several years….but there are several projects in the pipeline and others waiting approval. Financing may slow it down even a bit more but no abrupt halt.


Building For Lease: Lakewood Plaza II 601 Sherman Ave Madison WI

Storefront available in vibrant Maple Bluff neighborhood shopping center; great visibility, access & heavy vehicular & pedestrian traffic. New restaurant Bear & Bottle in same Plaza.

Two spaces are currently 1600 and 2500 sf; but will divide either space.

   …more


T. Wall Enterprises

Expect Professional Management with a Personal Touch
with every T. Wall Urban Village.

(608) 575-1018 or Contact@TWallEnterprises.com

   …more


Knotel and CompStak Team Up on Zestimate for Offices

The office provider Knotel’s blockchain network, Baya, is forming an alliance with CompStak, the crowdsourcing leasing data company, to essentially create what they claim will be commercial real estate’s first Automated Valuation Model (AVM).

This model will be able to tell users the critical question of net operating income of a property and how much it is worth.

   …more

RSK: This could be interesting if it goes national. Of course, I still think local brokers will be able to adjust some of the data inputs to make them more realistic.


High Point Office Park

Affordable. Versatile. Excellent visibility. A unique gem tucked alongside Madison’s West Beltline Highway 12/14…


Solar Energy for Business Seminar (FREE)

Now is the time for Wisconsin business owners to invest in solar energy. The payback has never been quicker—solar prices have fallen 75%!

Join us for this free seminar to hear case studies with real ROI data and learn how you can implement solar energy into your new development or existing facility…

   …more


2018 Event Calendar

Financing in Commercial Real Estate (Elective C)

November 8 @ 12:30 pm4:00 pm

More at the link…

   …more

RSK: A list of CARW Events and CE.


Why big-box retailers are rethinking in-store ‘engagement’

This holiday season, retailers want to get customers in and out of stores as fast as possible.

This week, Walmart, Target and Kohl’s rolled out mobile checkout capabilities, which give store employees capabilities to check out customers using mobile devices, an experience similar to Apple stores. Big-box retail brands are also rolling out digital way-finding tools to help customers navigate through aisles quickly to locate items quickly, find them at other store locations or have them shipped to a customer’s home…

   …more

RSK: I like this idea and think it may pay off for brick and mortar retailers.


Reinhart Boerner Van Deuren s.c.


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


RASCW Events and updates

Annual Membership Meeting 2018

November 15 @ 8:00 am10:30 am

Sheraton Madison Hotel – 706 John Nolen Dr

Please join us for our Annual Membership Meeting. You will hear from our RASCW and SCWMLS Presidents as they share their state of the organizations. Our guest speaker is Mike Theo, WRA President and CEO.  Recognition and awards will also take place.  Registration deadline is November 7.

Please see the event flyer for all the details.

Annual Membership Meeting 2018

New Developments for Commercial Brokers 2018 Review

Adam Sayer, Director of Planning and Development, City of Verona
click here for presentation

Michael Zimmerman, Assistant City Administrator/Director of  Community & Economic Development, City of Fitchburg
click here for presentation

Mike Davis, City Administrator, City of Middleton
click here for presentation

Tax Reform, Josh Ganshert, Baker Tilly
click here for presentation

Key Legal and Regulatory Updates, Tom Larson and Cori Lamont, Wisconsin REALTORS® Association
click here for presentation

   …more

RSK: In case you missed the RASCW Commercial Update Seminar a link to the powerpoint presentations is above. Worth the time to go over it


Building For Lease: Former Fitchburg Fire Station 5415 King James Way Fitchburg WI

Unique property w/ unlimited potential. Great space for a restaurant, micro brewery, gym, sports bar, office. Built 1993. 9,470 sq/ft- office/retail space. 4,264 sq/ft- warehouse/office/retail space. 13,734 sq/ft – main level. Additional 3,945 sq/ft – lower level. Zoned BG. 600 Amp service. Large capacity back-up generator. 20` ceilings in warehouse. 5 overhead doors (14`). $12-$19 sq/ft (NNN)…

   …more


Knight Barry Title Group

                       608-255-2700  www.KnightBarry.com

   …more

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


Cheese to Please

Strategic uses of cheese help with trend-forward menu development

Nick Testa was eating a bag of Cheetos in bed, after a long day of menu planning at Sweet Afton, a modern burger and bar joint in Astoria, N.Y. “I was like, ‘This would be great if it was a little healthier, with a veggie,’” he says. That inspired his bar snack of Shish-eetos: shishito peppers with “magic cheddar cheese dust.” Testa, who is the executive chef at this hot spot, batters and fries the peppers, then dusts with cheddar cheese powder for an updated riff on jalapeño poppers, using an on-trend ingredient and eye-catching name…

   …more

RSK: On Wisconsin! Don`t be surprised to see a restaurant open up featuring various cheese dishes.


Building For Lease: 2855 Smith Rd Portage WI

71,750 S.F. industrial with 3,850 S.F. office. Separate cold storage building of 8,000 S.F. Eight (8) docks and one (1) drive-in door.

   …more


FoodFight Restaurant Group – WELCOME


Our roster of restaurants reads like a who`s who of Madison`s favorite eateries: From Monty`s Blue Plate Diner, to The Avenue Bar, to Steenbock`s on Orchard, each is unique in its atmosphere and menu and each is the best at what it does!
   …more


How a New Investment Platform is Choosing Sites for Logistics Facilities

Logistics Property Company plans to grow its portfolio to $5 billion in logistics assets under management over the next five years.

With the U.S. industrial sector continuing to offer one of the best-performing commercial real estate investment vehicles, more companies are trying to take advantage of favorable market conditions. One of the recent entries to the space is Logistics Property Company LLC (LPC), a new real estate platform launched to acquire, develop and manage modern logistics facilities in key markets across North America…

   …more

RSK: You guessed it….SE Wisconsin is on the list for expansion.


Crown Commercial Real Estate/Development, LLC


Offering real estate services and design-build construction solutions for growth oriented clients…   …more


Building For Lease: 52 N Bryan St Madison WI

Available June 2019 approximately 2,400 sq.ft. warehouse/office area. Space to be remodeled. There is one drive-in door 10`x12`, no dock…

   …more


Hurricane recovery a double whammy for small-business owners

PANAMA CITY — The importance of housing for small-business owners was made clear by Hurricane Michael with many distracted for the past three weeks by concerns about where they were going to live or how they were going to repair their damaged homes.

“It’s quite eye-opening to actually experience this. It’s almost like being in a war zone,” said Ben Carson, U.S. secretary of Housing and Urban Development, who arrived in Panama City on Wednesday to survey damage and tour small businesses with Small Business Administration administrator Linda McMahon. “You almost have to think of it the same way in terms of recovery,” Carson said.

   …more

RSK: There are still a few businesses on Madison`s far west side and in Middleton that are going through this as well. Not as much damage however. Key is to check your insurance and know what is covered and what is not.


Recent sponsors below…

Thanks you for sponsoring CIREX and Cirexnews.com
   …more


MIG Commercial Real Estate


   …more
“The attention to detail, preventative maintenance, and proactive communication exhibited by MIG makes them a true business partner.”


Evans Properties, LLC.


   …more
Professional Real Estate Management and Sales


ARTIS REIT / Madison Lifestyle Office Portfolio


   …more

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.


Newmark Grubb Gialamas


   …more
Newmark Grubb Gialamas specializes in investment sales, office, retail, industrial, land, multi-family properties and 1031 exchanges. Our knowledgeable, local brokers are subject experts in their field.


IA Management


   …more
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.


Wisconsin Commercial Real Estate


   …more
Our focus is your focus, our goals are your goals.


Madison Commercial

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

   …more


Masters-hall Appraisal


   …more


Ruedebusch Development & Construction

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

   …more