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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 THIS WEEKS ARTICLES FOR 5/28/2024 ... 1. Northeast Area Plan... 2. 5 Top Tenant Amenities for 2024 and How to Choose the Right Ones... 3. Innovative Window Technologies Are Slashing Energy Use and Carbon Emissions... 4. Macy`s Culling of Its Real Estate Leads to Higher Sales and Profit Expectations ... 5. Florida’s 125% Surge in Property-Insurance Bills Sows Havoc... 6. Global Wellness Real Estate Spending Estimated To Reach Nearly $1 Trillion by 2028... 7. Is Big Pharma’s Patent Cliff A Launchpad Or Fall-Off For Lab Real Estate? ... 8. `More Skin In The Game`: 2 Power Utilities Want Data Centers To Foot The Bill For Billions In Grid Upgrades ... 9. The Music Has Stopped For Once-Booming Real Estate Crowdfunding Platforms ... 10. Facial Recognition Is Only the Beginning of AI in Access Control... 11. Malls Have Come Back From The Pandemic And The Retail Apocalypse That Never Happened ... 12. Red Lobster Real Estate Fallout... NEW PROPERTIES BUILDING FOR LEASE ACTIVE W. GILMAN AND STATE STREET 422 W GILMAN ST, MADISON, WI 53703 LAND FOR SALE ACTIVE 19 ACRES DEVELOPMENT LAND TOWN OF BURKE WI-19, SUN PRAIRIE, WI 53590 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... -------------------------------------------------------------------------------- NORTHEAST AREA PLAN -------------------------------------------------------------------------------- NORTHEAST AREA PLAN NORTHEAST AREA PLAN PUBLIC REVIEW DRAFT EVENTS! The public review draft for the Northeast Area Plan is here! Read the draft in its entirety or browse plan summary display boards. Please provide feedback by June 17th. A compilation of frequently asked questions, based off of questions and comments received online, via email, and in person, has also been prepared. You can also review a feedback summary as of May 2024. We invite you to participate at one of the several events that are scheduled to review and discuss the draft with project staff: Virtual meetings May 29 @ 12:00 pm (register) ...Full Story Here RSK: If you have not already checked out Madison`s NE Plan here is the link. City is looking for comments. -------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------- 5 TOP TENANT AMENITIES FOR 2024 AND HOW TO CHOOSE THE RIGHT ONES -------------------------------------------------------------------------------- WHAT TYPES OF AMENITY SPACES ARE OFFICE TENANTS EXPECTING TODAY? WE EXPLORE 2024’S TOP BELLS AND WHISTLES AND HOW TO DETERMINE WHAT MAKES SENSE FOR YOUR BUILDING. Tenant amenities are more important than ever in the effort to bring employees back to office spaces. Driven by requests from tenants, owners are looking for opportunities to strategically upgrade office buildings in ways that will drive foot traffic. “Different tenants are asking for different amenities, but the common thread is that they want their employees surprised by how robust the amenity package is,” ... ...These five amenity ideas have proved popular in recent years. Could one of them be a fit for your building? > 1. PICKLEBALL COURTS > 2. GYMS AND HEALTH SERVICES > 3. COMMON CONFERENCE AND COWORKING SPACE > 4. OUTDOOR AREAS > 5. SNACKS AND FOOD OPTIONS ...WHAT AMENITIES ARE BEST FOR YOUR BUILDING?... ...Full Story Here RSK: The lines between home and office are becoming blurred. Will it work? The two amenities I see missing are addressing the commute such as having flexible start hours so employees can bypass the rush hour) and child care on premise or really close by. -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- INNOVATIVE WINDOW TECHNOLOGIES ARE SLASHING ENERGY USE AND CARBON EMISSIONS -------------------------------------------------------------------------------- Earlier this year, the U.S. Department of Energy (DOE) launched a competition aimed at advancing energy-efficient window technology. The DOE competition is looking for entries with the most innovative secondary glazing system for windows and is offering a $2 million prize. In a time when the terms sustainability and energy efficiency are constantly thrown around, this latest initiative from a federal government agency doesn’t come as a surprise. But the focus on windows in particular is notable, as most of the attention toward greener buildings has been put on technology around heating and cooling systems. But windows are a major part of a building’s facade and are key to increasing energy efficiency, and new innovations in the space could be a big opportunity for owners looking to increase building performance. By now, most people know that buildings account for around 40 percent of carbon emissions. Windows, in particular, are responsible for 8.6 percent of energy use in buildings, and they influence end uses that makeup around 43 percent of building end use, according to the DOE. According to recent research from the agency’s Building Technologies Office, if window performance is improved, the country’s annual energy use could be reduced by 1.7 percent, and CO2 emissions could drop by 1.9 percent in 2050... ...Full Story Here RSK: Replacement windows are very expensive....doing it right the first time is a definite benefit. With some solar technology gaining traction it might be a reliable secondary source in certain climates. The main thing is better windows help negate the #1 leakage of energy in a building...plus the sound insulation is so much better... -------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------- MACY`S CULLING OF ITS REAL ESTATE LEADS TO HIGHER SALES AND PROFIT EXPECTATIONS -------------------------------------------------------------------------------- RETAILER`S INVESTING IN 50 NAMESAKE STORES AND CUTTING ELSEWHERE SHOWS PROMISE, ANALYST SAYS Macy`s has raised its sales and earnings expectations for the year as it reported initial progress in its turnaround plan of investing in promising namesake stores and closing low-performing locations. The New York City-based retailer said the first quarter of fiscal 2024 showed its turnaround strategy is gaining traction with customers. Macy`s launched the strategy in February after it decided to close a handful of stores as part of a broader plan to shut 150 locations in the next three years to cut costs and generate up to $750 million from property sales. The company plans to invest in the 350 Macy`s stores it plans to keep open with sales at the first 50 stores where the investment was made performing better than other locations. The retailer has not publicly disclosed the addresses of the 150 namesake stores it plans to shut, but locations that serve as mall anchors in California, Florida, Hawaii, Virginia and Georgia have been slated for closing... ...Full Story Here RSK: ANother example of a once major retailer which owns most of its real estate looking to sell to expand...could be a slippery slope like Sears and Red Lobster. So much value in their RE holdings. -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- FLORIDA’S 125% SURGE IN PROPERTY-INSURANCE BILLS SOWS HAVOC -------------------------------------------------------------------------------- (Bloomberg) -- For Filicia Porter, the insurance bills were the final straw. They’d been climbing steeply for her assisted-living business as Florida was battered with ever more-powerful storms, and eventually, the numbers stopped adding up. So in March, she finally decided to call it quits, shutting the facility near Palm Beach that she opened just two years ago. That came four months after she closed an older location in Port St. Lucie, opened in 2017. Together, they left a dozen residents scrambling to find another place to live... ...Full Story Here RSK: The rates are becoming a drain on the bottom line. Some insurance companies are pulling out of certain areas....that is a problem... -------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------- GLOBAL WELLNESS REAL ESTATE SPENDING ESTIMATED TO REACH NEARLY $1 TRILLION BY 2028 -------------------------------------------------------------------------------- GROWTH OUTPACES OVERALL CONSTRUCTION INVESTMENT IN PAST FIVE YEARS, STUDY FINDS As developers pitch fitness centers, outdoor terraces and other features to attract tenants and residents, estimated global spending on the construction of wellness-related real estate could more than double to nearly $1 trillion by 2028. Spending on homes and buildings, from office and residential to hospitality and medical properties, that are “proactively designed and built to support the holistic health of” their occupants, is expected to reach $913 billion in 2028 from $438 billion in 2023, according to the Global Wellness Institute. The nonprofit announced the findings Tuesday at a wellness in real estate symposium hosted at JPMorgan Chase’s global headquarters at 383 Madison Ave. in New York... ...Full Story Here RSK: Wellness Real Estate....another emerging sector or just a part of existing ones. Time will tell... -------------------------------------------------------------------------------- CARW 2023 EVENTS AND RESOURCES -------------------------------------------------------------------------------- CCIM/SIOR GOLF OUTING JUNE 3 @ 10:30 AM - 6:00 PM ...Full Story Here Ken Notes: Thank you Tracy Johnson President and CEO of CARW for keeping me in the loop. -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- IS BIG PHARMA’S PATENT CLIFF A LAUNCHPAD OR FALL-OFF FOR LAB REAL ESTATE? -------------------------------------------------------------------------------- Life sciences real estate has clung to signs of resurgence in recent quarters, including a small uptick in venture capital funding and the thus far unanswered hope for interest rate reductions. But there’s still faith in one potential savior: Big Pharma’s patent cliff, expected to create a surge of investment in mergers and acquisitions. The patent cliff, when blockbuster drugs lose patent protection and generic alternatives take market share, will eat into profits for all large global pharmaceutical firms. Yet it will also give them plenty of reasons to invest in mergers and acquisitions to pick up promising new treatments to fill their pipelines. And this rush of investment could turn into “a perfect storm” for M&A, according to JLL... ...Full Story Here RSK: This could be a mini boom for Lab Space in the Madison area...such as Sara Investments Velocity Station on Odana Rd. -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- `MORE SKIN IN THE GAME`: 2 POWER UTILITIES WANT DATA CENTERS TO FOOT THE BILL FOR BILLIONS IN GRID UPGRADES -------------------------------------------------------------------------------- Electric utilities across the U.S. have been spending billions to keep up with skyrocketing energy demand from data centers. Now, two of the country’s largest power providers are taking steps to ensure data center operators pay their fair share. AEP Ohio and North Carolina-based Duke Energy this month have both proposed new electricity supply contract terms specifically for data centers. The proposals are designed to ensure that homeowners and other ratepayers don’t get stuck holding the tab for billions of dollars in new transmission infrastructure and power plants being built to meet surging demand from data centers. These proposed agreement structures, the first of their kind, reflect the significant risks faced by power providers contending with ballooning pipelines of demand from new data center projects amid an artificial intelligence-driven digital infrastructure boom... ...Full Story Here RSK: Utilities can not expand their grid and megawatts on speculation, it is too cost prohibitive. The option is to become a partner in the developments and/or have a minimum usage for the data centers... -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- THE MUSIC HAS STOPPED FOR ONCE-BOOMING REAL ESTATE CROWDFUNDING PLATFORMS -------------------------------------------------------------------------------- John Austin, a retired life insurance salesman in Kansas with eight grandchildren, was looking to boost his retirement savings three years ago. That`s when he invested $50K in a $166M Columbus, Ohio, development through an online real estate crowdfunding platform. He was one of hundreds of thousands of small-time investors who funneled money into crowdfunded projects in 2021 and 2022, when near-zero interest rates made real estate deals look like guaranteed moneymakers. Instead, many of those investments are at risk of being completely wiped out... ...Full Story Here RSK And it is not just the office sector that has gone bust for crowd funding. Some retail and apartment sectors have lost any idea of a return as mortgage notes came due and interest rates doubled on the refinancing....more trouble ahead before this all levels out... -------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------- FACIAL RECOGNITION IS ONLY THE BEGINNING OF AI IN ACCESS CONTROL -------------------------------------------------------------------------------- Facial recognition used to be a subject for science fiction novels, but now it has become commonplace. We are as accustomed to our phones identifying us by our faces as we were to using our fingerprints in previous versions of smartphones. Facial recognition is also being used on a much larger scale. China has been using facial recognition for years to track its citizens’ behavior for its controversial social credit system. Concert venues have also been using it to identify possible security threats. France plans to use facial recognition to help keep the millions of people attending the Olympic Games safe this summer. There has been pushback against the use of facial recognition, particularly in public places and by police departments. Microsoft has even banned police departments from using its Azure Open AI Service for facial recognition. Despite the emotionally charged issue of facial data being stored and used by authorities, facial recognition is only the beginning of what AI can do with computer vision. As AI becomes more powerful at identifying patterns, it is increasingly capable of using other “behavioral biometrics” to identify people... ...Full Story Here RISK: It will become more spooky as time goes on....this is in its infancy. There will be good and bad that comes out of AI! -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- MALLS HAVE COME BACK FROM THE PANDEMIC AND THE RETAIL APOCALYPSE THAT NEVER HAPPENED -------------------------------------------------------------------------------- If doomsday post-pandemic predictions of malls and physical retail driving down a one-way road to oblivion were to be believed, Cafaro co-President Anthony Cafaro should not have a business, let alone come back from industry jamboree ICSC RECon in Las Vegas fresh and full of confidence about the future. Cafaro is at the helm of a 40-center portfolio for an Ohio-based company that has been in the retail property business for 75 years. And while his world has changed dramatically in the past decade, it has not disintegrated, as many predicted. “Certainly the industry has changed since our founding,” he reflected. “Nobody’s building a million-square-foot mall anymore, and that’s okay. We’re continually evolving to make our centers succeed.” .. ...Full Story Here RSK: Yes....whatever happened to the retail apocolypes? I had stated the online would be important but brick n mortar would not go away. Both become an omni channel for goods. Gone are the mega malls and smaller well located ones are prevailing. -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- RED LOBSTER REAL ESTATE FALLOUT -------------------------------------------------------------------------------- America’s most well-known seafood restaurant has announced that it has filed for Chapter 11 bankruptcy. Red Lobster, founded in 1968 in Florida, grew to have more than 700 locations at its peak. Now, the brand is bankrupt. One of the main reasons for the chain’s struggles is its handling of real estate, not the $11... ...Full Story Here RSK: I have said many times that the value of certain companies is with their real estate and their locations. Sears is another example. Once that is gone, the value drops considerably... -------------------------------------------------------------------------------- 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 -------------------------------------------------------------------------------- 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: 21 - Query String:SELECT * FROM cirex WHERE `issue` > 21 and volume = 24 OR `issue` > 90 ORDER BY sortorder