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Ralph Kamps"Simple and easy are not the same
thing."
...Full Story HereRalph Kamps
Editor CirexNews
608.345.2880
Ken Harwood
Publisher CirexNews
608.334.2174
608.334.2174
"Simple and easy are not the same
thing."
— Naval Ravikant
This Weeks Articles for 8/25/2026 ...
- Glass Nickel location could become apartments...
- Largest U.S. Grid Threatens Power Cuts To Data Centers That Don't Bring Their Own...
- Potential housing redevelopment on Madison's west side sparks concern ...
- Sale-Leasebacks Becoming Institutional Real Estate’s New Darling...
- The unlikely return of the office skyscraper...
- From Lease Abstraction to Lease Action...
- Move-In Maintenance Might Be the Most Underutilized Retention Tool in Multifamily...
- Milwaukee Street redesign in Madison aims to boost safety amid growth ...
- U.S. Cap Rate Survey H1 2026 ...
- Commercial Real Estate Supply-Demand Dynamics Continue to Improve ...
- Milwaukee to finance redevelopment of blue office tower...
- Big-Box Deals Push Chicago Industrial Leasing Into National Top 3...
- Top Brokers Leave Newmark After Suing Firm, Boss...
- New York is overtaking San Francisco as the top market for tech workers, driven by AI hiring...
New Listing
2,700 square feet of flex space featuring a conference room, (2) kitchenettes, (2) private restrooms. 1,350 sf of open concept office and 1,350 sf warehouse space. 10'x12' drive in door.
Established hospitality and entertainment venue featuring vintage bowling lanes, full-service bar, outdoor patio, and event-oriented gathering spaces. Longstanding community destination with opportunities for continued operation, expansion, and creative repositioning.
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...
Glass Nickel location could become apartments
As the west side Glass Nickel Pizza Co. plans to move to a new location in Middleton within the next year, its current location — part of a collection of buildings in a triangular space at University Avenue, North Whitney Way and Old Middleton Road — is pegged for redevelopment.
Galway Companies has plans to redevelop the area with about 500 apartments and commercial space, according to an article in the Wisconsin State Journal.
Galway Companies, a Monona developer, presented its redevelopment plans to the city of Madison’s Urban Design Commission on Wednesday.
Preliminary plans also call for 6,000 square feet of commercial space at the corner of University Avenue and Whitney Way...
...Full Story Here
RSK: That is a great location for apartments. Traffic control will be another matter.
The Gialamas Company, Inc.
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.
Largest U.S. Grid Threatens Power Cuts To Data Centers That Don't Bring Their Own
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Facing skyrocketing demand, the nation’s largest grid operator plans to
require new data centers to provide their own power or have their
service cut when the grid is strained.
PJM Interconnection, whose service area encompasses Washington, D.C., and 13 states in the mid-Atlantic and Midwest, has been scrambling to contend with an unprecedented, data center-driven wave of electricity demand that has threatened the grid’s stability and raised customer utility bills. Now, the grid operator is asking federal regulators to approve a new framework governing how data centers connect to the grid and acquire power.
Under the proposal, submitted Friday to the Federal Energy Regulatory Commission, newly built data centers that don’t add capacity to the grid will have their power supply curtailed when the grid approaches dangerously low levels compared to demand...
Under the proposal, submitted Friday to the Federal Energy Regulatory Commission, newly built data centers that don’t add capacity to the grid will have their power supply curtailed when the grid approaches dangerously low levels compared to demand...
RSK: More of this will be demanded of data centers.
Madison Lifestyle Office Portfolio
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.
Potential housing redevelopment on Madison's west side sparks concern
Developers are eyeing the site of a three-story office building near West Towne Mall for a major housing redevelopment, prompting concerns from residents and the area’s City Council representative.
RFA, a Canada-based firm, submitted preliminary plans this summer that would demolish the UW Health administrative office at 301 S. Westfield Road to make way for around 570 apartments across five new five-story buildings. The plans filed with Madison’s Urban Design Commission show two mixed-use buildings at the south end of the property, about a block north of Mineral Point Road, with a three-building residential complex toward the north end.
UW Health, which operates a clinic nearby, began leasing office space at the site in 2011. Its lease expires next August, and the healthcare provider no longer needs the space, spokesperson Emily Greendonner told the Cap Times...
UW Health, which operates a clinic nearby, began leasing office space at the site in 2011. Its lease expires next August, and the healthcare provider no longer needs the space, spokesperson Emily Greendonner told the Cap Times...
RSK: Again, traffic control will be a concern here, but RFA has a major presence here in Greater Madison, so I am sure they want to be a good neighbor.
Investors Associated
“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.”
Sale-Leasebacks Becoming Institutional Real Estate’s New Darling
Goldman is buying LCN for up to $410 million
Goldman Sachs is buying LCN Capital Partners for up to $410 million. LCN manages roughly $3 billion in assets and specializes in sale-leaseback transactions. In a sale-leaseback, an investor buys a property from a company and leases it back to the original owner. The tenant pays rent and typically covers taxes, insurance, and maintenance. Goldman will pay $260 million upfront with another $150 million contingent on performance. Roughly 80% of the total consideration will be paid in stock. The deal closes by year end. It’s Goldman’s second acquisition in a week and its third major real estate investment platform acquisition in months.
Sale-leasebacks are becoming a core asset class for institutional investors. The model offers predictable cash flow through long-term leases with creditworthy corporate tenants. It combines property ownership with corporate credit exposure. Investors get returns from both real estate appreciation and stable lease payments. For corporate sellers, sale-leasebacks unlock capital tied up in real estate without losing operational control of their facilities. The transaction lets companies monetize owned properties while maintaining occupancy and avoiding disruption. That mutual benefit is driving growth...
Sale-leasebacks are becoming a core asset class for institutional investors. The model offers predictable cash flow through long-term leases with creditworthy corporate tenants. It combines property ownership with corporate credit exposure. Investors get returns from both real estate appreciation and stable lease payments. For corporate sellers, sale-leasebacks unlock capital tied up in real estate without losing operational control of their facilities. The transaction lets companies monetize owned properties while maintaining occupancy and avoiding disruption. That mutual benefit is driving growth...
...Full Story Here
RSK: Sale lease backs are an important integral part of investment real estate. Will be seeing more of this if interest rates remain at their current levels. Usually a win-win.
Madison Commercial Real Estate LLC
Let our years of experience help you find relief
from this excess space and help your bottom line"
Call Ralph Kamps 608-345-2880
The unlikely return of the office skyscraper
As top-tier space grows scarce, some tenants opt for new development
When Sidley Austin began searching for a new Chicago headquarters, the global law firm discovered a surprising problem: There weren't many places left to go.
The firm wanted hundreds of thousands of square feet, direct access to public transit and the kind of amenities needed to attract more than 1,500 employees back to the office. After an extensive search, it concluded that the best option wasn't moving into an existing office tower but helping launch a new one.
"It can be challenging to find the kind of space we want and as much space as we need," Brian Fahrney, a Sidley partner and chairman, told CoStar News. "Chicago is one of our largest markets, and even after we did a thorough search, we found limited options. We could move to an existing building or stay where we are, but both would have meant a lot of work. So, we concluded that the solution for us was to build a new building."...
RSK: New and highly amenitized office buildings are in high demand with little to choose from. This has spurned new construction of high end office buildings with location, access and amenities to attract and keep employees. Definitely a huge gap between high end trophy office building demand and the lower tier.
Commercial Brokers Group
2026 Annual CBG Golf Outing • September 2 • The Oaks
Wednesday, September 2, 2026
10 AM
The Oaks Golf Course
Wednesday, September 2, 2026
10 AM
The Oaks Golf Course
Make your plans now to attend the 29th Commercial Brokers Group Scholarship Golf Outing. This fun-filled afternoon will include 18 holes of golf, prizes, lunch, dinner and drink tickets. You can set up your own foursome or we’ll happily assign you to one.
We’re offering a purchase option which includes a 4-some and hole sponsorship!
There will also be sponsorship opportunities including the bloody mary bar, lunch, dinner, beverage, raffle items and items for golf cart goodie bags. Please reach out if you would like to be a sponsor or donate raffle items. Email: info@cbgmadison.com
St. John Properties
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.
From Lease Abstraction to Lease Action
Lease abstraction was one of the first real estate workflows that AI touched in a meaningful way, and for good reason. Lease abstraction is by far the largest use case of AI in real estate. In a recent survey, it was reported as being used by 66% of respondents, 20 points more than any other application. The task of reading a commercial lease and pulling out the key economic and operational terms is exactly the kind of repetitive, document-heavy work that AI handles well. For a portfolio of dozens of leases, abstraction by hand is time-consuming but manageable. For a portfolio of hundreds, it is a genuine operational constraint. AI removed that constraint, and the industry moved quickly to adopt it. What is happening now is more ambitious. Organizations are looking past AI-assisted abstraction at the real value that lies in what happens after the important information has been pulled from the document.The challenge for many real estate organizations is not a shortage of AI opportunities. It is an excess of them...
RSK: I have used AI to decipher leases for some time now. Works well. Also works well for medical reports on imaging which is full of Rx jargon.
CARW 2025 Events and Resources
CARW Deal of the Year Awards and Annual Meeting
October 28 @ 4:00 pm - 7:30 pm
The Deal of the Year Awards & Annual Meeting recognizes the most notable commercial real estate professionals and transactions in Wisconsin. The awards event was created to highlight accomplished CARW REALTOR® members who have displayed exceptional achievement in sale and/or lease transactions.
Submission categories include; Office, Industrial, Retail, Investment, Development, and more! Deals must have been completed between August 1, 2025 – July 31, 2026.
Submission categories include; Office, Industrial, Retail, Investment, Development, and more! Deals must have been completed between August 1, 2025 – July 31, 2026.
Move-In Maintenance Might Be the Most Underutilized Retention Tool in Multifamily
The multifamily industry spends an enormous amount of energy on renewals, and most of that energy gets deployed in the last quarter of a lease term. Renewal offers go out 90 to 120 days before expiration. Pre-renewal surveys get fielded. Retention teams start making calls. By that point, in a significant share of cases, the decision has already been made. Most controllable churn decisions form within the first 90 days of a tenancy, which makes move-in the most underutilized retention window in multifamily operations, and one that most operators treat as a logistical process rather than a strategic one.The economics of getting this wrong are substantial. The average cost to turn a single apartment unit is $3,872 when accounting for make-ready expenses, vacancy loss, leasing commissions, advertising, and concessions, according to aggregated operator data across more than 50,000 units. The National Apartment Association puts turnover costs closer to $4,000 per unit, and RealPage data indicates apartment turnover costs have more than doubled since 2020...
RSK: One of the few problems with this is it is hard to get to all the requests in the 90 day period.
Knight Barry Title Group
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
MADISON: 2450 Rimrock Road, Suite 204, 608-255-2700
CAP SQUARE: 44 E. Mifflin Street, Suite 101, 608-255-2700
Milwaukee Street redesign in Madison aims to boost safety amid growth
A stretch of Milwaukee Street on Madison’s east side is set for a significant redesign to increase traffic safety.With growth anticipated along the major east-west corridor, the city’s Transportation Commission unanimously approved a new layout for Milwaukee Street between Starkweather Creek and West Corporate Drive at a meeting this month.
Planned work will include medians throughout the segment and a new shared-use path on the north side of the street from Walter Street to West Corporate Drive. The project will include a bike lane on the south side of Milwaukee Street, several raised intersections, wider terrace spaces, parking on the north side of the street, and replacement of underground water and sewer infrastructure...
RSK: This is only the beginning of the development on this parcel. The street improvement will be welcomed.
Reinhart
With the largest Real Estate Practice of any law firm in Wisconsin, Reinhart offers clients custom-tailored real estate insight.
U.S. Cap Rate Survey H1 2026
Introduction
The H1 2026 Cap Rate Survey provides a fresh perspective of where market sentiment is trending.Welcome to CBRE’s H1 2026 Cap Rate Survey (CRS). This survey comes at a time when uncertainty around interest rates could slow commercial real estate investment activity.
The data behind this report was informed by deals that closed during the first six months of 2026. While market conditions are fluid, we believe that the CRS provides important insights about how investor sentiment is changing.
The CRS generates key insights from 3,600 cap rate estimates across more than 50 U.S. markets...
RSK: Very good Cap Rate Survey with graphics. Worth a look.
Colliers|Wisconsin
Colliers| Wisconsin offers clients in the Wisconsin market, expertise in every property type. Wisconsin’s Colliers office offers a comprehensive portfolio of real estate services to occupiers, owners and investors on a local, regional, national and international basis, including: Brokerage Services, Corporate Solutions, Property Management and Valuation & Advisory Services. Colliers is the third-largest commercial real estate services company in the world, with over 12,300 professionals operating out of more than 522 offices in 62 countries.
See All Listings Here...
...Full Story HereCommercial Real Estate Supply-Demand Dynamics Continue to Improve
A recent Nareit commentary noted that fundamentals across the four traditional property types continued to show positive momentum and signs of stabilization, but occupancy rates remained mostly flat and rent growth struggled to match inflation. A closer look at CoStar data further highlights the differences in supply-demand dynamics across sectors. As of the second quarter of 2026, apartments, industrial, and retail were at or near equilibrium, while office demand outstripped supply for the fourth straight quarter.
Office has faced a persistent supply-demand imbalance since 2019, but restrained development and stronger demand have pushed excess net demand into positive territory for four consecutive quarters. In the second quarter of 2026, occupancy stood at 86.1% and the four-quarter rental gain was 1.8%. According to Nareit’s Actively Managed Real Estate Fund Tracker, office was the only sector of the four traditional property types with an overweight relative to its index weight in the first quarter of 2026...
RSK: Another very good depiction of net supply and demand for the 4 CRE sectors.
Park Towne Realty LLC
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.
Milwaukee to finance redevelopment of blue office tower
If you’ve ever meandered through downtown Milwaukee, especially Wisconsin Avenue, you probably have seen a big blue office tower that stands out from the rest.The 14-story building, at 310 W. Wisconsin Ave., has been underused for some time, and now the city of Milwaukee plans to help finance its transformation into an apartment building with 220 units.
Those redevelopment plans — a mix of studio, one-, two- and three-bedroom apartments — have received initial approval, according to an article in the Milwaukee Journal Sentinel...
RSK: Good reuse development of an iconic Milwaukee office tower. Waiting for Madison to do such. Maybe the old GEF buildings...
RASCW Events
Preparing for January 1:
Understanding the 2027 Practice Changes
Thursday, October 29, 2026
(2:30 PM - 4:00 PM) (CDT)
Understanding the 2027 Practice Changes
Thursday, October 29, 2026
(2:30 PM - 4:00 PM) (CDT)
Description
January 1, 2027, brings significant changes to Wisconsin real estate practice. Join WRA attorneys Cori Lamont and Jennifer Lindsley for an overview of the new statutory requirements created by 2025 Wisconsin Act 69 and the final REEB-approved WB forms implementing those changes. The program will review the new public marketing requirements, changes to seller-paid compensation, and technology-enhanced advertising rules, while highlighting the revisions to the listing contracts, buyer agency agreement, offers to purchase, and public marketing opt-out agreement. Whether you're looking for a refresher or preparing for implementation, this session will help you understand what changes on January 1 and what it means for your practice...
Mullins Group LLC
Big-Box Deals Push Chicago Industrial Leasing Into National Top 3
Chicago’s industrial market had a strong first half of 2026, with big-box tenants helping to deliver one of the best leasing quarters in years.Industrial net absorption hit 6.1M SF in Q2, over five times the first quarter and more than eight times the total from a year earlier, according to CBRE. The positive absorption was the strongest quarter for the Chicago area since the high mark of 6.9M SF in the second quarter of 2023.
“Developers and owners who have a prescient view of the industrial market either have sites tied up or have some planned spec product,” CBRE Executive Vice President David Prell said. “That's kind of across the board of all different sizes, and in particular the bulk product.”...
RSK: Good news for our neighbors to the south. Data centers are having an effect on the price of land as well as leasing space.
Key Commercial Real Estate, LLC
Top Brokers Leave Newmark After Suing Firm, Boss
More details have come to light in the power struggle on a high-profile Boston commercial real estate brokerage team that has now led to two top producers leaving Newmark.
Boston Capital Markets brokers Matthew Pullen and Edward "Woody" Maher Jr. have parted ways with the firm after filing a lawsuit against Newmark and their boss, Rob Griffin, in May, according to an Aug. 3 filing from their attorney, Ellen Zucker.
The brokers left their roles July 13 but did not resign voluntarily, Zucker wrote in the filing.
The brokers left their roles July 13 but did not resign voluntarily, Zucker wrote in the filing.
RSK: Stop whining and go ahead with the law suit. In the meantime, the two of you should start your own company if you have all those connections with owners and buyers.
Food Fight
Food Fight Gift Cards...
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.
Gift cards can be redeemed at all of our restaurants for dine-in visits or call-in carryout orders, and they never expire...
New York is overtaking San Francisco as the top market for tech workers, driven by AI hiring
New York City's 394,300 tech talent jobs edged out the San Francisco Bay Area's 375,730, the first time NY has led in 13 years of CBRE analysis
New York City has surpassed the San Francisco Bay Area
as the largest tech talent market by headcount in the U.S., according
to CBRE's 13th annual Scoring Tech Talent report. New York's 394,300
tech talent jobs surpassed San Francisco's 375,730 — a milestone that
marks the first time New York has claimed the top position in the
history of CBRE's analysis.
The shift reflects two forces working in opposite directions: layoffs of
non-AI tech workers in the Bay Area, and strong AI and finance-driven
hiring in New York. "The story there is that there's been cuts in the
Bay Area, so the tech industry has contracted the size of the tech
talent workforce, and the finance sector [in New York] has hired a lot
of tech talent and a lot of AI workers," Colin Yasukochi, who serves as
executive director of CBRE's Tech Insights Center in San Francisco, told
CNBC...
RSK: This is one of the reasons NYC is experiencing an uptick in office leasing.
Properties for Lease or for Sale By Company
  |
The Gialamas Company, Inc.   |
RFA Asset Management Madison, WI | 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 |
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
ABSTRACT Commercial Real Estate LLC
...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.
In our weekly News & Views you can promote your clients properties and your services
call 608-345-2880 for details...
...Full Story Here