cirexnews.com
Open in
urlscan Pro
107.180.46.201
Public Scan
Submitted URL: http://cirexnews.com/
Effective URL: https://cirexnews.com/
Submission: On June 07 via api from US — Scanned from DE
Effective URL: https://cirexnews.com/
Submission: On June 07 via api from US — Scanned from DE
Form analysis
0 forms found in the DOMText Content
THIS PAGE CONTAINS 4 WEEKS DATA - CLICK HERE FOR THIS WEEK CIREXNEWS - CRE AND INVESTMENT NEWS CLICK TO VIEW ONLINE... -------------------------------------------------------------------------------- This Week - Notes - Search - Index - Share Ralph Kamps Editor CirexNews 608.345.2880 Ken Harwood Publisher CirexNews 608.334.2174 JUNE LEASE ASKING RATES THIS WEEKS ARTICLES FOR 6/4/2024 ... 1. ICSC Las Vegas 2024 : Top 10 Key Takeaways from Colliers... 2. The flight to debt-free landlords... 3. Property Prices Fell To Start Quarter, but Signs of Improvement Emerge... 4. This simple idea can transform an office from a collection of cubicles into an actual community... 5. Owners Of 64 NYC Office Buildings Exploring Residential Conversions ... 6. The Death Knell Is Tolling For Family Sit-Down Restaurants: What`s The Future For All Their Empty Husks? ... 7. CBRE: Artificial Intelligence To Take Big Bite Out Of Demand For Office Space ... 8. Commercial Property Owners Navigate EV Charger Installation Challenges... 9. New light-transmissive metamaterial cools rooms and self-cleans... 10. State Of Lab Real Estate: How The Biggest Markets Are Slogging Through Supply ... 11. Not Distressed But ‘Stressed’: Investors See Hotel Buying Opportunities Coming ... 12. `A Transformational Moment`: Will The Rise Of Women`s Sports Ripple Through Real Estate? ... NEW LISTINGS LAND FOR SALE ACTIVE WI-19 SUN PRAIRIE, WI 53590 BUILDING FOR LEASE ACTIVE FORMER ENO VINO RESTAURANT SPACE WAUNAKEE, WI 2800 SARAH LN, WAUNAKEE, WI PROPERTIES, PROFESSIONALS AND SPONSORS ...Full Story Here 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... -------------------------------------------------------------------------------- ICSC LAS VEGAS 2024 : TOP 10 KEY TAKEAWAYS FROM COLLIERS -------------------------------------------------------------------------------- The ICSC LAS VEGAS convention gathered approximately 25,000 industry professionals for deal-making, trend exploration, and networking. Legendary football coach Nick Saban delivered a motivational keynote, emphasizing the importance of continuous performance with his statement, “You are only as good as your last play.” Here is a summary of the three days of events, where retail experts and enthusiasts, the driving force behind innovation and evolution in the industry, shared their insights: 1. Minimal space availability was top of mind... 2. The tight retail space conditions are expected to continue... 3. The lack of new supply is driving up the value of retail real estate... 4. The U.S. retail sector has seen increased leasing demand... 5. Net lease retail is performing well despite interest rate pressures... 6. The end of easy financing and a decline in venture funding... 7. Credit spreads have narrowed... 8. Despite ample investor demand and abundant capital... 9. Successful financing deals today require best-in-class sponsorship... ...Full Story Here RSK: Great wrap on the ISCS retail conference...retail is strong. -------------------------------------------------------------------------------- ARTIS REIT / MADISON LIFESTYLE OFFICE PORTFOLIO -------------------------------------------------------------------------------- WATCH THE VIDEO HERE! Deming Park Building One Financial Place Wisconsin Trade Center Greenway Building 8383 Greenway Madison, WI Brochure 8333 Greenway Blvd Middleton, WI 708 Heartland Trail, Madison, WI 525 Junction Rd, Madison, WI SEE ALL LISTINGS HERE... ...Full Story Here Madison Lifestyle Office Portfolio comprises 14 Class A properties totaling over 1.7 million square feet of leasable area and an additional 8.3 acres of development land. The portfolio is located on the west side of Madison, Wisconsin. -------------------------------------------------------------------------------- THE FLIGHT TO DEBT-FREE LANDLORDS -------------------------------------------------------------------------------- WHILE THE ROCK CLIMBING WALL, ZEN GARDEN OR VIRTUAL REALITY FITNESS STUDIO OF A CLASS A BUILDING MAY BE MOST ENTICING FOR SOME, AN INCREASING AMOUNT OF COMPANIES ARE SIMPLY LOOKING FOR WHICH LANDLORDS HAVE THE LEAST AMOUNT OF DEBT RIGHT NOW. As the U.S. office market grapples with the structural shift to hybrid work, there’s a lot of chatter about the ‘flight to quality,’ or movement toward state-of-the-art spaces with competitive amenities. But the notion that companies, eager to encourage workers back to the office, are simply choosing the most wildly equipped and tech-enhanced class A buildings doesn’t tell the whole story. In Los Angeles, San Francisco, Washington, DC, and other major cities, tenants are also ‘fleeing’ to institutional landlords with either no debt or manageable debt levels–whether or not their building is brand new or has a rock climbing wall, zen garden, or virtual reality fitness studio. FINANCIAL LOSSES AND OPPORTUNITIES FACING TODAY’S OFFICE MARKET ...Full Story Here RSK: If building owners have little debt, they are able to do improvements on the building and for the tenants. Keep your tenants happy, you will keep them in a building they are happy to come to work to and have their clients come as well. -------------------------------------------------------------------------------- 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... HEATHER EWING ABSTRACT COMMERCIAL REAL ESTATE YOUTUBE / PODCAST / VIDEO ...Full Story Here -------------------------------------------------------------------------------- PROPERTY PRICES FELL TO START QUARTER, BUT SIGNS OF IMPROVEMENT EMERGE -------------------------------------------------------------------------------- AVERAGE DEAL SIZE INCREASED IN APRIL WHILE SALES CLOSED FASTER, COSTAR DATA SHOWS The start of the second quarter did little to reverse the slide in commercial property prices in the past year or so, but small signs of improvement emerged. While CoStar Group’s U.S. composite price indices fell in April, transaction activity picked up, the average deal size increased and the amount of time properties stayed on the market began to shrink. All are indicators that suggest liquidity may be returning to the market, according to CoStar’s Commercial Repeat-Sale Indices that track when a previously sold property trades hands again in a process called a repeat sale... ...Full Story Here RSK: The smaller the sales price the more likely a cash offerings, so no need for debt leverage and move a bit more quickly. -------------------------------------------------------------------------------- MADISON COMMERCIAL REAL ESTATE LLC -------------------------------------------------------------------------------- 2814 PERRY ST, MADISON 1909 W COURT ST, JANESVILE COMMERCE ST, LAKE DELTON 2202 W BADGER RD, MADISON SEE ALL LISTINGS HERE ...Full Story Here -------------------------------------------------------------------------------- THIS SIMPLE IDEA CAN TRANSFORM AN OFFICE FROM A COLLECTION OF CUBICLES INTO AN ACTUAL COMMUNITY -------------------------------------------------------------------------------- Across industries, from boardrooms to break rooms, the return-to-office conversation has focused on the ideal split between home and office. Corporate leaders and employees alike often cite culture and connection as reasons to gather together. But making the commute only to arrive at a sea of half-empty desks and traditional conference rooms can suck the life out of even the most devoted office attendee. Explanations for return-to-office fallout vary from industry to industry, and company to company. But what becomes clear is that employees have been left with little to no incentive to be in the office, and in some cases will even leave their current employers to avoid it—a trend we’re seeing now at tech giants like Apple and SpaceX, but is by no means limited to one industry... ...Full Story Here RSK: This is what is needed. What exactly should the "new office setting" become. If you only read one article, read this one. -------------------------------------------------------------------------------- KNIGHT BARRY TITLE GROUP -------------------------------------------------------------------------------- 608-255-2700 www.KnightBarry.com ...Full Story Here 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 -------------------------------------------------------------------------------- OWNERS OF 64 NYC OFFICE BUILDINGS EXPLORING RESIDENTIAL CONVERSIONS -------------------------------------------------------------------------------- New York City’s Conversion Accelerator Program has received interest from 64 office landlords seeking to convert their properties to housing. Four buildings have already been converted or begun construction through the accelerator, creating about 2,100 apartments. Others, Lalezarian Properties’ 650 First Ave. and Vanbarton Group’s 980 Sixth Ave., have received permits to begin renovations for reuse, Gothamist reported. The accelerator, announced in August, assists developers in navigating city laws and bureaucracy to expedite complex conversion projects. Coupled with Mayor Eric Adams’ plan to rezone Midtown, the initiatives aim to create 20,000 apartments from underutilized office stock over the next decade... ...Full Story Here RSK: Exploring is the operative word here. Once they find out the conversion costs, many will fall by the wayside. -------------------------------------------------------------------------------- RASCW EVENTS -------------------------------------------------------------------------------- MALLARDS GAME FUNDRAISER FOR RASCW HOUSING FOUNDATION WEDNESDAY, JUNE 12, 2024 (5:00 PM - 9:00 PM) (CDT) DESCRIPTION Join us for a fun summer evening with the Madison Mallards baseball team and to help raise money for the RASCW Housing Foundation, which works to increase affordable housing in our communities. All net proceeds will go to the Foundation!... ...Full Story Here -------------------------------------------------------------------------------- INVESTORS ASSOCIATED -------------------------------------------------------------------------------- 4901 Eastpark Blvd 2323 Crossroads Dr 2310 Crossroads Dr 2418 Crossroads Dr 5201 Eastpark Blvd Madison, WI 5325 Wall St Madison, WI 2128 City View Dr Madison, WI 5310 Wall St Madison, WI 2801 Crossroads Dr Madison, WI 5315 Wall St Madison, WI SEE ALL LISTINGS HERE... ...Full Story Here One area of expertise for Investors Associated is first class property management. To keep our properties running smoothly, we focus on the little things with the big picture in mind. Our team is comprised of a group of individuals that oversees the day-to-day operations such tenant retention, lease negotiations and property maintenance costs. Bottom line, if you’re not happy, we’re not happy! Check out our properties today and see why you should lease with us. -------------------------------------------------------------------------------- CARW 2023 EVENTS AND RESOURCES -------------------------------------------------------------------------------- COFFEE WITH CARW – THE MICROSOFT DEAL IN MOUNT PLEASANT – WHAT DOES IT MEAN FOR WISCONSIN JUNE 12 @ 8:30 AM - 9:45 AM Join Us for Coffee with CARW: The Microsoft Deal in Mount Pleasant – what does it mean for Wisconsin Date: June 12th Time: 8:30 – 9:00 am: Registration and Networking | 9:00 – 9:45: Program Location: Huron Building Conference Room – 9th Floor – 511 N Broadway, Milwaukee, WI 53202 We are excited to invite you to a special Coffee with CARW session featuring two distinguished leaders in economic development. Learn firsthand about the landmark Microsoft deal in Mount Pleasant from those who helped make it happen. Speakers: Jim Paetsch, Senior Vice President and Executive Director, M7 Laura Million, Deputy Director, Racine County Economic Development Commission (RCEDC) Discussion Highlights: * Microsoft’s Investment in Wisconsin: Understand the significance of this major investment and how it will shape the state’s economic landscape. * Economic Development Incentives: Discover the strategies and incentives that were instrumental in securing the deal. * Impact on Wisconsin’s Economy and Workforce: Gain insights into both the immediate and long-term effects on job creation and economic growth. Don’t miss this opportunity to engage with industry experts and learn about the transformative potential of Microsoft’s presence in Wisconsin. ...Full Story Here Ken Notes: Thank you Tracy Johnson President and CEO of CARW for keeping me in the loop. -------------------------------------------------------------------------------- THE GIALAMAS COMPANY, INC. -------------------------------------------------------------------------------- 8150 Excelsior Dr Madison, WI 8040 Excelsior Dr Madison, WI 1289 Deming Way Madison, WI 8025 Excelsior Dr Madison, WI 8030 Excelsior Dr Madison, WI 1200 John Q Hammons Dr Madison, WI 1241 John Q Hammons Dr Madison, WI 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. -------------------------------------------------------------------------------- THE DEATH KNELL IS TOLLING FOR FAMILY SIT-DOWN RESTAURANTS: WHAT`S THE FUTURE FOR ALL THEIR EMPTY HUSKS? -------------------------------------------------------------------------------- Eighties and nineties nostalgia was dealt a gut punch earlier this month when nearly 100 Red Lobster locations abruptly went dark amid the company’s Chapter 11 bankruptcy filing. Restaurants that took the U.S. by storm 30 to 40 years ago are beginning to drop like flies after a whirlwind past few years that forced rapid innovation in response to evolving consumer demands. At least 12 of the nation’s biggest casual chains plan to scale back their portfolios this year, and while reasons behind the reductions vary, the potential real estate impacts grow more layered as closures bloom. The turnover of space is expected to create opportunities in retail markets where rapid population growth has led to historically low levels of vacancy. But in less desirable markets, the empty carcasses of once-beloved chain restaurants will be harder to reckon with... ...Full Story Here RSK: Some of these chains are just...well...just tired. They ran their course and patrons want something new and exciting and not just so,so. -------------------------------------------------------------------------------- KEY COMMERCIAL REAL ESTATE, LLC -------------------------------------------------------------------------------- 8 S Carroll St Madison, WI 6230 University Ave Middleton, WI 114 E Main St, Waunakee, WI 822 E Washington Ave Madison, WI Aventine 1958 Atwood Ave, Madison, WI Market No. 5 841 W Verona Ave, Verona, WI 313 E Johnson St, Madison, WI 401 Charmany Dr Madison, WI SEE ALL LISTINGS HERE... ...Full Story Here -------------------------------------------------------------------------------- CBRE: ARTIFICIAL INTELLIGENCE TO TAKE BIG BITE OUT OF DEMAND FOR OFFICE SPACE -------------------------------------------------------------------------------- Office buildings across the country are facing their lowest occupancy on record and more than 1B SF is at risk of becoming obsolete — but another existential threat is just around the corner. Artificial intelligence is expected to replace 85 million jobs by 2025, according to a report from the World Economic Forum. That has implications for real estate, CBRE Investment Management Chief Investment Officer for Americas Direct Real Estate Strategies Julie Ingersoll said. “If we lose 25% of our jobs in the United States — think coding jobs, secretarial, even sales-related roles — what is that downstream impact going to be on office, when we already have a 55-year high of office vacancy?” Ingersoll said at a CBRE IM media event Wednesday. “We think it’s going to have a pretty deleterious impact on office demand.”.. ...Full Story Here -------------------------------------------------------------------------------- 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 Here -------------------------------------------------------------------------------- COMMERCIAL PROPERTY OWNERS NAVIGATE EV CHARGER INSTALLATION CHALLENGES -------------------------------------------------------------------------------- A slow start to this year’s U.S. electric vehicle sales led to speculation that the EV revolution may be tapering off. Flat sales in the first quarter combined with Tesla laying off ten percent of its global workforce and Ford dramatically pulling back on electric vehicle expansion plans. While none of this was good news for the EV market, a closer look at the data shows a brighter picture. Six of the ten biggest electric vehicle makers in the U.S. saw sales grow at a blistering pace in the first quarter compared to a year ago. In the U.S. and worldwide, electric vehicle sales are estimated to increase by about 20 percent this year. That’s less than the 46 percent growth rate in America last year, but a torrid rate like that can’t be sustained over the long term. Even if the global electric vehicle market continues at this slower pace indefinitely, virtually all cars will be electric within a decade... ...Full Story Here RSK: Nothing being said about increasing the grid and power sources if 25% eventually goes EV... -------------------------------------------------------------------------------- REINHART -------------------------------------------------------------------------------- Milwaukee: 414.298.1000 Madison: 608.229.2200 Waukesha: 262.951.4500 ...Full Story Here With the largest Real Estate Practice of any law firm in Wisconsin, Reinhart offers clients custom-tailored real estate insight. -------------------------------------------------------------------------------- NEW LIGHT-TRANSMISSIVE METAMATERIAL COOLS ROOMS AND SELF-CLEANS -------------------------------------------------------------------------------- Maximizing natural light in buildings is a popular trend due to its potential to save on energy costs. However, traditional glass roofs and walls often lead to issues such as glare, lack of privacy, and overheating. While alternative solutions like coatings and light-diffusing materials have been explored, they haven’t fully addressed these problems. Now, researchers at the Institute for Microstructure Technology (IMT) and the Light Technology Institute (LTI) at KIT have developed a novel polymer-based metamaterial that is not only more transparent to light but adds privacy, cools the room inside, and automatically cleans itself. It could potentially have significant implications for the future of building design and energy efficiency.... ...Full Story Here RSK: Unique! Now if they could reverse this and increase the average temp by 6 C for us people in the northern climes, we might have something. -------------------------------------------------------------------------------- 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 Here -------------------------------------------------------------------------------- STATE OF LAB REAL ESTATE: HOW THE BIGGEST MARKETS ARE SLOGGING THROUGH SUPPLY -------------------------------------------------------------------------------- After eclipsing office during the pandemic, the once-booming lab real estate market is falling back to Earth. As recent reports and data show, life sciences space is now showing many similarities to other struggling real estate sectors. JLL’s recent lab properties report showed a 29% jump in tenant demand in San Diego, San Francisco and Boston last quarter. But despite that growth, these markets still face significant headwinds. Big developers are evaluating their construction projects amid oversupply issues, and a flight to quality is leaving older, second-generation spaces desperate for tenants and leasing activity. Large players are shedding under performing assets.... ...Full Story Here RSK: A bit of good news and a bit of bad news for the sector. Depends on the location. -------------------------------------------------------------------------------- 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... ...Full Story Here -------------------------------------------------------------------------------- NOT DISTRESSED BUT ‘STRESSED’: INVESTORS SEE HOTEL BUYING OPPORTUNITIES COMING -------------------------------------------------------------------------------- Last week, a foreclosure notice was filed for one of the most high-profile hotels in D.C.: The Waldorf Astoria at the Old Post Office building, formerly the Trump International Hotel. The property`s leaseholder, CGI Merchant Group, defaulted on its $285M loan in February, and a foreclosure auction is now scheduled for next month. The situation could be an early sign of distress barreling toward the hospitality sector locally and nationwide, panelists said Thursday at Bisnow’s Mid-Atlantic Hospitality Summit, held at the Washington Marriott Capitol Hill. "That`s not going to be the [last] deal that we are talking about and are familiar with that is heading to either auction or taken back by the lender in this market over the next couple of months," said Excel Group principal Matt Wexler, previously a managing partner at D.C. hotel developer Foxhall Partners... ...Full Story Here RSK: Stressed not distressed at the moment. -------------------------------------------------------------------------------- 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 Here -------------------------------------------------------------------------------- `A TRANSFORMATIONAL MOMENT`: WILL THE RISE OF WOMEN`S SPORTS RIPPLE THROUGH REAL ESTATE? -------------------------------------------------------------------------------- When the National Women’s Soccer League team now known as the Seattle Reign competed in the playoff semifinals in late 2021, all Jen Barnes wanted was to go to a local bar and watch the game. She couldn’t find one that had it playing. It was a lightbulb moment. About a year later, in December 2022, she opened Rough & Tumble Pub in Seattle, one of the first U.S. sports bars to play men’s and women’s events equally across its 18 screens. The pub was turning a profit within a few months, and this March, it brought in $250K in revenue — proof the concept, now popping up from coast to coast, has legs, Barnes said. “There`s such a sense of joy with the women`s sports fan base at a place like Rough & Tumble because you`ve waited all your life to have a space where you can watch these games together,” she said... ...Full Story Here RSK: I think the timing is right...but as a CRE investor, I would proceed with caution. -------------------------------------------------------------------------------- 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 SEE ALL LISTINGS HERE... ...Full Story Here -------------------------------------------------------------------------------- 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 COMMERCIAL Flad Development & Investment Corp. Evans Properties, LLC Keller Real Estate Group MIG Commercial Real Estate, LLC First Weber Group, Inc - West Towne Opitz Realty, Inc. First Weber Group, Inc - Prairie Du Sac Peterson Management Company Inc. The Lenhart Company, Inc Scott Faust & Associates Shamrock Real Estate Services, LLC Targa, Inc EXECUTIVE MANAGEMENT, INC Stark Commercial - East Urban Land Interests Slinde Realty Company ASSIST-2-SELL/POHLKAMP & ASSOCIATES Berkshire Hathaway Home Services Matson Real Estate Artisan Graham Real Estate HOVDE & HOVDE, INC BETTY THOMPSON REALTY ...Full Story Here -------------------------------------------------------------------------------- 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. Online - Titles Only - Search - Index - Share In our weekly News & Views you can promote your clients properties and your services call 608-345-2880 for details... ...Full Story Here -------------------------------------------------------------------------------- Start Week: 22 - Query String:SELECT * FROM cirex WHERE `issue` > 22 and volume = 24 OR `issue` > 90 ORDER BY sortorder