...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...

Two more state-owned buildings in downtown Madison are hitting the market as the state government continues efforts to reduce its real estate portfolio in the capital.

A pair of office buildings on South Webster Street are up for sale, the Department of Administration announced March 18. Bidding on the “Block 107” site, which contains roughly 400,000 square feet of office space along with underground parking, will remain open through June 5.

   ...Full Story Here

RSK: At $50 million you better be able to put a host of units on the site. Of course, that is just the appraised value. Bidding is another story. A hotel might make some sense.

Madison is set for a major boost to its affordable housing supply on lands formerly belonging to Oscar Mayer.

The six-story Victoria at Huxley Yards — a 250-unit senior living complex with one- and two-bedroom apartments — is fully leased with most of its residents set to move in April 1. The View at Huxley Yards, a 303-apartment building with units ranging from one- through four-bedrooms, saw its first residents move in last week.

   ...Full Story Here

RSK: This is by far the largest property of this type. But there are others going through the system as well.

See All Listings Here...

   ...Full Story Here

“At Investors Associated, we make it easy for brokers to match clients with well?managed, high?quality spaces. Our team prioritizes clear communication, quick turnaround times, and a seamless leasing experience. Partner with us to provide your clients with properties backed by dependable service and long?term value.”

The Midwest’s data center boom requires a vast electrical transmission buildout to keep servers online, and transmission developers are clamoring for a share of the action.

An example of that tug-of-war played out last week, when the regional grid operator for much of the Upper Midwest reversed its earlier decision to allow a developer backed by the investment firm Blackstone to build a series of substations in eastern Wisconsin.

Instead, the operator handed the substations to the American Transmission Company (ATC), which owns and operates most transmission lines in eastern and central Wisconsin. The company argues it’s better-positioned to complete the project before a new Port Washington data center comes online by early 2028, five years ahead of the transmission project’s original deadline.

The about-face is a win for Wisconsin’s largest transmission developer after a series  of losses in Wisconsin’s Assembly, where lawmakers have repeatedly rejected a proposal to give regionally established developers like ATC a monopoly over portions of multistate transmission projects within Wisconsin, leaving the door open for competition.

The new arrangement itself likely won’t drive up costs for Wisconsin ratepayers. But ATC will now fold the substations into a larger $1.3 billion buildout to serve the Port Washington campus — another phase in the ongoing fight over who will pay to supply power for new data centers...   ...Full Story Here

RSK: This is about who will power up the data centers in Wisconsin and who will pay for it. A complicated issue on the surface and yes, politics are involved.

   ...Full Story Here

The Madison Office Lifestyle Portfolio consists of 13 Class A, amenity-rich office properties ranging in size from approximately 25,000 square feet to over 300,000 square feet and is home to more than 130 tenants. The portfolio is located on the west side of Madison and Middleton, with the majority of properties situated in the Far West submarket.

Not long ago, the apartment search looked like this: open Google, type “apartments near me,” scroll through a handful of listings, and schedule a tour. That funnel is changing faster than most landlords realize. ChatGPT now holds roughly 80 percent of the AI search market and processes more than two billion queries daily and a growing share of those queries are people trying to figure out where to live. ChatGPT has already reached about 12 percent of Google’s total search volume, achieved in less than three years, a pace that has no real precedent in the history of how people find information online. For the multifamily industry, which has spent years optimizing for Google and paying for placement on listing platforms, the rise of AI as a primary search tool is not a future problem. It is a present one.

   ...Full Story Here

RSK: Ai may not return the most results in a search but it will return the best ones that had a positive experience. And it seems searches are heading this way.

   ...Full Story Here

We offer the experience, quality and service you deserve, but with the personal attention and dedication that only a family business can provide. We’re not just your landlord, we’re partners in your success.

The augmented reality market is experiencing explosive growth that’s transforming how people interact with physical spaces. The global AR market was valued at approximately $62 billion in 2023 and is projected to reach $472 billion by 2030, representing a compound annual growth rate of over 34%. More than 1.4 billion people worldwide now use AR-enabled devices, with that number expected to climb to 1.73 billion by 2024. Apple’s Vision Pro, Meta’s Quest headsets, and AR-capable smartphones have pushed the technology from novelty to mainstream utility. What started as playful filters on Snapchat has evolved into a fundamental layer of digital infrastructure overlaying the physical world. Yet as AR becomes ubiquitous, a critical question remains unresolved: who controls the digital space surrounding and above physical property, and who profits when that space becomes commercially valuable?

   ...Full Story Here

RSK: Now we are splitting hairs here are we not? but, I bet it will happen.

Need to sublet extra office space?

Let our years of experience help you find relief from this excess space and help your bottom line" 

Call Ralph Kamps 608-345-2880

SEE ALL LISTINGS HERE

   ...Full Story Here

Chicago’s Saks Fifth Avenue store on the Magnificent Mile at 700 N Michigan Avenue is closing.

The move to shutter the location comes amid the retailer’s closure of 12 stores nationwide. Saks Global, the owner of luxury retail chains Saks Fifth Avenue and Neiman Marcus, filed for Chapter 11 bankruptcy protection in January and secured final approval last month for a $1 billion bankruptcy loan.

Saks Global is also cutting over 1,200 jobs as it shutters more than a dozen locations nationwide following its bankruptcy filing earlier this year. The company plans to close 15 locations, including 12 Saks Fifth Avenue stores and three Neiman Marcus branches. The closures and layoffs are part of Saks Global’s bankruptcy restructuring...

   ...Full Story Here

RSK: Sad day for the Magnificent Mile. But most people who went into the store were just lookers so I get why they need to close.

Breakfast meeting and CE-4 at Vogel

    April 16, 2026
    7:15 AM
    Vogel Bros. Building Co.

   ...Full Story Here

• AI is driving a historic buildout of massive data centers spanning dozens of acres.

• Boston Dynamics and Ghost Robotics see an opportunity to provide mobile security with robot dogs.

• Boston Dynamics said customers can see a payoff within 2 years.

It's not just humans. The robots are coming for dogs, too — and they could enter the red-hot space of securing AI data centers.

As companies pour billions into sprawling industrial campuses for cloud and AI computing, some data center operators are experimenting with four-legged bots — about the size of large dogs — that can patrol fences, inspect equipment, and flag any issues before they turn into costly outages...

   ...Full Story Here

RSK: Although there is no widespread use of Robot Dogs in Data Centers, the ones that do have them are reaping the rewards. They are not totally replacing human guards but working in sync with them. More will follow.

See All Listings Here...

   ...Full Story Here

Since 1971, St. John Properties has designed, developed, and managed spaces that fit every type of business. Our team anticipates and serves the needs of over 2,700 clients, including small, mid-sized, and large companies, nationwide.

NEW YORK/SAN FRANCISCO, March 13 (Reuters) - Meta is planning sweeping layoffs that could affect 20% or more of the company, three sources familiar with the matter told Reuters, as ?Meta seeks to offset costly artificial intelligence infrastructure bets and prepare for greater efficiency brought about by AI-assisted ?workers.

No date has been set for the cuts and the magnitude has not been finalized, the people said.

Top executives have recently signaled the plans to other ?senior leaders at Meta and told them to begin planning how to pare back, two of the people said...   ...Full Story Here

RSK: They say it won't affect the amount of space needed for offices but will have more attractive settings and room for collaboration. We shall see.

   ...Full Story Here

   ...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

The International Energy Agency today set out a range of demand-side actions that governments, businesses and households can take to alleviate the economic impacts on consumers of the disruptions to oil markets stemming from the war in the Middle East.

The conflict has triggered the largest supply disruption in the history of the global oil market, with shipping through the Strait of Hormuz, which normally carries around 20% of global oil consumption, reduced to a trickle. Around 20 million barrels per day of crude oil and oil products typically transit the Strait. The loss of these flows has tightened markets significantly, pushing crude oil prices above $100 per barrel and driving even sharper increases in refined products such as diesel, jet fuel and liquefied petroleum gas (LPG).

   ...Full Story Here

RSK: The number one way to save oil and gas during the conflict is to work from home? Not buying it.

   ...Full Story Here

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

Iran’s drone strikes on three of Amazon’s Middle East data centers were the first military attacks on U.S. tech giants digital infrastructure — but they likely won,t be the last.

Data centers are becoming priority targets in wartime: critical infrastructure whose destruction can be debilitating to both a country’s economy and military capabilities. 

There are growing concerns among national security analysts that not enough is being done in the U.S. to plan for the likelihood of attacks on Big Tech computing hubs. They say this threat needs to be taken seriously, not just in active conflict zones like the Middle East but also on U.S. soil. 

This is a harbinger of what’s to come, said Sam Winter-Levy, a fellow at Carnegie Endowment for International Peace who is focused on the intersection of artificial intelligence and national security...

   ...Full Story Here

RSK: Sounds like it is more of a when rather than an if.

See All Listings Here...

   ...Full Story Here

Highlights

• February 2026 marks a four-year low for national median asking rents—the 30th consecutive month of year-over-year decline for 0-2 bedroom properties across the 50 largest metros. The national median asking rent fell $29, or 1.7%, compared to a year ago.
  
  
• The median asking rent in the 50 largest metros registered at $1,667, $90 (-5.1%) lower than its summer 2022 peak but $207 (14.2%) higher than the pre-pandemic level.
  
  
• Median rent declined in all size categories: studio: $1,393, down $6 (-0.4%) year over year; 1-bed: $1,548, down $28 (-1.5%) year over year; 2-bed: $1,844, down $35 (-1.9%) year over year.
  
  
• In February 2026, the median asking rents in all 50 metros were below their peak levels: 
  
  
  • Fifteen markets saw median asking rents at least 10% below their peaks in February 2026, led by Austin, TX (-18.2%), Birmingham, AL (-17.1%), and Memphis, TN (-16.1%)—representing the deepest cumulative rent relief since the COVID-19 pandemic era.
    
    
  • Five markets—Virginia Beach, VA (-1.7%), Kansas City, MO (-1.8%), Baltimore, MD (-2.4%), San Jose, CA (-2.5%), and Richmond, VA (-2.7%)—saw median asking rents within 3% of their peaks in February 2026, with mounting evidence suggesting a rebound is on the horizon.

In February 2026, the U.S. median rent recorded its 30th consecutive year-over-year decline. Rent for 0-2 bedroom properties across the 50 largest metropolitan areas dropped by 1.7% compared to the previous year, with the median asking rent at $1,667—$29 lower than the prior year. 

   ...Full Story Here

RSK: I think the rents in our market have leveled out for now.

   ...Full Story Here

Park Towne is a family run Madison-based real estate company serving southern Wisconsin for over 50 years. Led by second generation brothers Mike, Jim and Joe Ring, Park Towne has a portfolio of for-lease commercial properties and offers development, management and brokerage services.

Welcome to the 2026 Apartment List Renter Migration Report. Here we analyze data on millions of searches to see where our users are looking to move, shedding new light on the migration patterns of America’s renters. This report incorporates the search preferences of users who registered with Apartment List between January 1 and December 31, 2025.¹

A large share of renters are considering a big move in 2026

Over the past half-decade, rapid developments in remote work, housing construction, affordability, and local economic growth have shifted American migration patterns. Overall migration has been slowing somewhat, although many individual markets have experienced extreme swings in housing demand. Longer-distance moves – to new states or metropolitan areas – were briefly popular immediately after the COVID-19 pandemic but have since slowed, as inflation pushed affordability concerns and moving costs to new highs.

   ...Full Story Here

RSK: Good graphics....worth a look.

RASCW Broker Summit 2026
Thursday, April 16, 2026
(9:00 AM - 3:30 PM) (CDT)

Get Ready for What’s Next. 

RASCW, in collaboration with NAR, is hosting a Broker Summit on Thursday, April 16—a high-impact, half-day conference designed specifically for brokers and team leaders preparing for the year ahead. 

This summit brings national insight directly to you. Join us for timely strategy, data-driven forecasts, and practical guidance led by:

•     Nykea Pippion McGriff, Vice President of Broker Engagement, NAR
•     Jessica Lautz, NAR Deputy Chief Economist
•     The RPR Team, sharing tools and intelligence to sharpen your business decisions
•     Plus additional expert voices and peer discussion ...

   ...Full Story Here

   ...Full Story Here

RSK: If you're going to go industrial/warehouse, you better go big.

   ...Full Story Here

When it comes to the next generation of restaurant growth, focused concepts are scaling faster and global cuisines is continuing to gain momentum.

That’s according to Datassential’s Top 25 Emerging Chains report, which highlights the restaurant concepts that are rapidly growing across the United States. The ranking is part of the food and beverage company's flagship Datassential 500 report, which tracks performance and innovation across the most influential restaurant brands nationwide. (Top 10 emerging chains listed at end of article.)

Datassential's analysis revealed that many of the rapidly-growing chains, including Toastique and Savvy Sliders, have built strong momentum around specialized menus that are easy to scale and resonate strongly with consumers...

   ...Full Story Here

RSK: Looks like people's taste buds are longing for something new and exciting. Check out the top 25 at the end of the article.

   ...Full Story Here

The 24-hour work cycles at the Vantage Data Centers campus in Port Washington are being limited, Wisconsin Public Radio reported.  

Residents complained of the nonstop noise and lights during construction of the $15 billion project.  

The Port Washington Plan Commission on Thursday unanimously passed an amendment to the building, site and operations plan for the development to limit construction hours.  

The amendment limits outdoor construction to between 6 a.m. and 8 p.m. Monday through Saturday. Lighting also has to be “reduced to security levels” after 8:30 p.m. 

   ...Full Story Here

RSK: Data centers want to be up and running as soon as possible. Why? Because there is money to be made once they are operational...

See All Listings here...

   ...Full Story Here

   ...Full Story Here

RSK: A podcast about 3 brands in the fast casual market and what they are doing right. A brief synopsis paragraph at the end if you don't have the minutes to listen.

	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

   ...Full Story Here

   ...Full Story Here