Cirex News is emailed weekly to over 1,300 CRE Brokers/Agents and people interested in commercial real estate. In our weekly News & Views you can promote your clients properties and your services for just $15 for new listings (If it is put into the Cirex Guide no extra charge) and $25 for a banner ad (also free to Guide advertisers). call 608-345-2880...
MADISON, Wis. –
Every year after the World Rowing
Championships, Male and Female Athletes of the Year are announced. This
year, former Badger and Middleton native Vicky Opitz was selected by the
US athletes and coaches who competed at the 2018 World Rowing
Championships as Female Athlete of the Year.
Opitz is the third Badger to receive this award and will add her name
next to Mandi Kowal who won it in 1987 and Carol Feeney in 1992.
"I feel incredibly honored," said Opitz to USRowing. "There were so many
well-deserving female athletes on the team this year. I feel very
honored to be selected among all of these amazing candidates. The team
was awesome this year and I`m just happy to have been a part of it."... ...more
RSK: Kudo`s out to the Opitz family on Vicky receiving this high honor. The Apple doesn`t fall far from the tree, does it? I think K.C. will be buying at the next event.
CBG Annual Holiday Party & Meeting
Date: Wednesday, December 12th, 2018
Time: 04:00 PM
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 12. 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
Contact Wendy with any questions at 772-0060.
CirexNews is most likely a far more powerful tool than you realize. This week for example there are several articles on the Opportunity Zone legislation.
The problem is that you may need these articles weeks, months, or even years from now.
Problem solved! You can search all the articles in our archive anytime and find articles from way back when.
The search link is always in the header story of CirexNews...
Pretty cool eh? Let Ralph know I an underpaid and overworked.
Expect Professional Management with a Personal Touch
with every T. Wall Urban Village.
(608) 575-1018 or Contact@TWallEnterprises.com ...more
Thursday, October 18th, 2018 their new address is:
Greenway Blvd., Ste. 160
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!
(PDF 2.02 MB)
NAR`s latest Commercial Real Estate Outlook offers overall
projections for four major commercial sectors and analyzes quarterly
data in the office, industrial, retail and multifamily markets.
- NAR forecasts economic output to expand at a stronger pace of 3.0 percent in 2018.
- With economic output and employment trends continuing on an
expansionary path, commercial fundamentals are expected to exhibit solid
demand and increasing cash flows.
- Vacancy rates will likely provide mixed results, with multifamily
undergoing growing availability from an expanding supply pipeline.
- Office and retail properties will likely see vacancies move
sideways, while industrial spaces will find rent growth advancing at a
- For commercial investments, the trends have already shown in
pricing. Cap rates seem to have found a floor, and for some property
types, have already begun to turn upward.
RSK: I believe this outlook will hold true in our market as well for most sectors.
The Tax Cuts and Jobs Act of 2017
(TCJA) includes a new tax incentive designed to steer long-term capital
investments into economically distressed communities. Investments in
these areas, called Opportunity Zones, are eligible for the temporary
deferral and potential exclusion of capital gains.
Tax benefits of investing in an Opportunity Zone
The TCJA authorizes each state to nominate up to 25 percent of its
low-income communities as qualified Opportunity Zones. The final list of
designated census tracts was released by the U.S. Department of
Treasury on June 14, 2018.
Temporary deferral of gain...
Permanent exclusion of gain... ...more
RSK: Thanks to my partner Jim Anderson for the heads up on this none. Many of you have asked about OPZ`s and this is a great outline for it and how it works tax wise.
The Opportunity Zone legislation has already unleashed considerable
activity, with real estate companies starting to establish new funds.
The basic premise behind the Opportunity Zones initiative was to offer incentives in the form of deferred and reduced taxes on capital gains
to attract private capital for investment in low-income urban, suburban
and rural areas of the country. “The simple thought was that if capital
was invested in those zones, it would have an appreciable and
beneficial effect on those communities,” says John W. Gahan III, an
attorney in the real estate department at Sullivan & Worcester in
What is stirring excitement among both sponsors
and investors is that, unlike 1031 tax deferred exchanges, this tax
incentive is not just for “like-kind” assets. It allows investors who
are selling a variety of assets, such as stocks, art or a business, to
reinvest capital gains in Opportunity Zone funds. Some industry
estimates put the value of total unrealized gains in the U.S. in the
trillions. So, even if a fraction of those dollars finds their way into
Opportunity Zone property funds, it has the potential to create a
sizable new sector within the real estate investment market....
RSK: Another look at OPZ`s
View Our May Digital Version Online Here
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After a slowdown, apartment rent growth increased to 2.9 percent in the third quarter of 2018.
Apartments rents are on the rise again.
The apartment market’s performance during the third quarter slightly
surpassed expectations,” according to Greg Willett, chief economist for
RealPage Inc., a provider of property management software and services.
Demand for apartment units softened slightly in recent years,
as developers built thousands of new apartments. Now, demand is growing
quickly once again, as the number of new households rises quickly and
helps fill new units. This improved outlook comes after years of already
strong rent growth and low vacancy rates....
RSK: Not really much of an increase but enough to take care of increased taxes hopefully.
"The attention to detail, preventative maintenance, and proactive communication exhibited by MIG makes them a true business partner."
The federal Opportunity Zones
program has drawn interest from investors around the country, and
policy experts and fund managers expect a flood of capital to flow into
the space as soon as the regulations are finalized.
The program, part of the Tax Cuts and Jobs Act President Donald Trump
signed into law in December, gives large tax breaks to investors who
place capital gains into funds that invest in opportunity zones, a set
of largely low-income areas across the country. Local governments nominated their
opportunity zone census tracts in April, and in recent months, several
funds have been set up specifically targeting opportunity zones... ...more
RSK: Didn`t think it would take this long for the big boys to get involved with OPZ`s.
Contrary to popular belief, landlords can use multiple strategies to recover rent from bankrupt tenants.
Landlords often believe that once their tenant files for bankruptcy,
there is little that can be done to recover from the tenant. While it
is entirely possible that a tenant’s bankruptcy filing could result in a
goose egg, active monitoring of the bankruptcy case will maximize
recoveries. Below are a few key strategies:
- Monitor your tenant’s financial health prior to a bankruptcy filing
- Has the tenant filed a store closing list?
- Administrative claims for post-bankruptcy rent
- Deadlines, deadlines, deadlines…
- Negotiating the lease post-bankruptcy...
RSK: If you are a landlord or property manager listen up on this one...you can get money after a tenant declares bankruptcy...but my advice would be to hire an attorney to make sure you meet all the petitions and deadlines.
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.
A novel project under construction in a vacant department store is being hailed as the future of the mall.
When it opens next year at Southdale Center in Edina, Minnesota, the
three-level, 120,000-square-foot "athletic resort" will feature a
full-service rooftop restaurant and beach club, a swimming pool, a
healthy cafe, a spa and a salon in space once occupied by a JCPenney’s
that anchored the mall. That former retail area will also include
coworking space, a children’s academy and exercise rooms.
"It’s a gutsy thing," said Stephen Dombrovski, senior associate at
Suntide Commercial Realty in St. Paul, Minnesota. "Things like this are
truly the future of retail."... ...more
RSK: I give them credit for trying this...but sounds like they are trying to be too much. Good luck!
Affordable. Versatile. Excellent visibility. A unique gem tucked alongside Madison’s West Beltline Highway 12/14...
Just in time for the holidays, storied
retailer FAO Schwarz will open a new flagship store in Manhattan – its
first freestanding location since it shut its doors three years ago.
toy emporium, known for its starring role in the 1988 Tom Hanks movie
"Big`` and its often over-the-top merchandise, will set up shop in
Rockefeller Plaza, opening its doors on Nov. 16.
retailer is re-emerging in time for a holiday season that will be the
first in decades without Toys R Us, another store chain that, like FAO
Schwarz, specialized in dolls, cars, games and gadgets. And in addition
to having its own store, it will be a presence within other retailers
over the holidays, including Bloomingdales and Neiman Marcus.... ...more
RSK: Again, FAO one of my favorite all time retailers. Will it work? Not sure but hoping so.
Ken Notes: I have been doing a lot of research for a keynote I am giving on Thursday, and the consensus is successful retailers will need to become more destination driven. I want to go there vs. I need to go there because need is now a click away...
Geoffrey the Giraffe
may be coming back to life.
The Toys “R” Us Inc. lenders that took control of the retailer during its liquidation -- and have faced criticism for their role in the shutdown -- are now working on resuscitating the brand, according to new court documents.
a bankruptcy court filing Monday, the funds said they had canceled a
plan to auction off the company’s intellectual property. Instead, they
are seeking to reorganize the assets into a new company that will
maintain the current license agreements and can invest in new retail
RSK: Sounds like they will not open Big Box stores but will rely on pop-up stores. Not sure how that is going to work but betting there will be a lot of on-line and warehouse/distribution services needed. Good luck to them.
CARW Sponsor & Thank you
October 24 ...more
Deal of the Year & Annual Meeting
RSK: A list of CARW Events and CE.
Americans are getting older. That`s an opportunity for Best Buy.
August, Best Buy announced it would buy GreatCall for $800 million.
GreatCall makes Jitterbug cell phones with big buttons and bright
screens designed for senior citizens, as well as medical alert devices
that can detect falls and summon help.
Best Buy (BBY
) may not seem like the first place to find an over-70 crowd.
But buying GreatCall allows Best Buy to expand its customer base overnight.
it can attract an older clientele, Best Buy increases its chances of
becoming the go-to store for aging Americans and their caregivers. It
can bring them in for Jitterbugs and medical alert gadgets and send them
home with TVs and Echoes.
expect Best Buy to feature GreatCall products prominently at its
showrooms, and Geek Squad agents will probably recommend them to
Helping Grandma live independently...
RSK: Can you say "GrandPad" among other things? It will work...
With the largest Real Estate Practice of any law firm in Wisconsin, Reinhart offers clients custom-tailored real estate insight.
Preparations for this year’s holiday season began taking shape
well before kids traded in their books for bathing suits. And now that
the dust has settled on back-to-school shopping, retailers can turn
their full attention to holiday planning..
1. Holiday shoppers will buy more on mobile than on any other device
2. AI-based product recommendations will drive 35% of revenue
3. Nearly half of all holiday shopping will happen during Cyber Week
4. Instagram will emerge as a significant traffic-driver to retail sites
Will Voice Find its Voice in Holiday 2018?
RSK: I don`t think all of these are hot items....especially in our SMSA.
Annual Membership Meeting 2018
November 15 @ 8:00 am - 10:30 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
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 Fitchburgclick here for presentation
Mike Davis, City Administrator, City of Middletonclick here for presentation
Tax Reform, Josh Ganshert, Baker Tillyclick here for presentation
Key Legal and Regulatory Updates, Tom Larson and Cori Lamont, Wisconsin REALTORS® Associationclick 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
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
Ah, The City Beautiful that is Chicago.
I just flew back red-eyed to New York after attending the 2018 CCIM Global Conference.
And as I am known for I usually do some sort of personal summary of some of the events I attend.
Why should this be any different? It’s not so let’s get started.
Wait, wait, wait, before I get started I need to give a HUGE shoutout to the team at Reonomy. ...more
RSK: Great synopsis by the Dukester....makes you feel like you were there.
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
America`s largest mattress retailer has filed for bankruptcy,
with plans to close up to 700 stores in the U.S. to save itself from
mounting debt and rent obligations.
Mattress Firm filed
for Chapter 11 bankruptcy protection in Delaware Friday morning. It
will shutter an initial 200 stores across the country within the next
few days. Mattress Firm tapped A&G Realty Partners to handle the store closures... ...more
RSK: Two plus their outlet store in Madison. Some more retail up for lease...
Offering real estate services and design-build construction solutions for growth oriented clients... ...more
(Bloomberg) -- Bit by bit, the smart money deserted Edward Lampert.
Michael Dell, David Geffen, George Soros, the Ziff brothers -- by 2012, all of them, and many more, had peeled away.
even Lampert’s friends could understand why the hedge-fund manager,
once hailed as a young Warren Buffett, clung to his spectacularly bad
investment in Sears, a dying department store chain...
RSK: Why Sears has failed.
Very nice end-cap space available. Formerly Freshii. Modern
interior and finishes. Small patio area as well. Great visibility and
traffic counts. Restaurant equipment might be available... ...more
Thanks you for sponsoring CIREX and Cirexnews.com ...more
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
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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 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.
Our focus is your focus, our goals are your goals.
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
The Gialamas Company`s premier development. The park has over 57 buildings containing 200+ companies, occupying over 3.0 million square feet.
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.