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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...

Peerless Development is proposing the six-story apartment building shown in this rendering on Regent Street between South Mills and South Charter streets. The redevelopment would replace Hong Kong Cafe and Choles Floral with 111 apartments and 1,200 square feet of commercial space.

Hong Kong Cafe and Choles Floral could give way to more than 100 apartments under a proposal from an Illinois developer that would transform the 1100 block of Regent Street.

Hong Kong Cafe, pictured in 2012, has been at the corner of Regent and Mills streets for more than three decades. The longtime owners put the business and its building up for sale in late 2024...   ...Full Story Here

RSK: Looks like Regent Street will become a tunnel of high rise apartments like Johnson St.

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“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.”

A town of 12,000 people just north of Milwaukee passed a first-of-its-kind referendum to restrict data center development after local officials approved a controversial $15B campus planned by OpenAI and Oracle. 

Residents in Port Washington, Wisconsin, voted by a 2-1 margin to restrict future data center development in their town, according to unofficial results reported by Politico. It is the latest sign of growing backlash against data center development in some corners of the country, with at least three other municipalities set to vote on restrictions. 

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RSK: Of course Wisconsin would lead the way.

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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.

Madison Pulls Away From Ann Arbor to Secure 3rd Consecutive Midwest Tech Title

Madison, Wis., claimed the top spot for the third consecutive ranking — and, this time, by a considerably wider margin. In the previous ranking, Madison and Ann Arbor, Mich., finished neck and neck with Madison ahead by less than one point. This time around, Madison opened up a lead of more than six points over Ann Arbor and the rest of the competition.

Specifically, the Badger State capital remains the most concentrated Midwest metro for tech jobs, and that advantage has grown. Now, Madison’s tech job density has climbed to 77.7 per 1,000. To put that into perspective, 31,600 out of roughly 406,000 working-age residents work in tech-related roles. Moreover, no other metro on the list surpasses 50 tech jobs per 1,000. Plus, as a specialized bio health hub, it’s creating opportunities for graduates of the University of Wisconsin and attracting talent inflow, as well. At the same time, tech company density has also improved with Madison overtaking Minneapolis to move into second place, up from third in the last ranking. Additionally, Madison was runner-up in the quality-of-life index, placing second in educational attainment with more than half of residents holding at least a bachelor’s degree, as well as posting the second-lowest unemployment rate on the list...

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RSK: Way to go Madison. yet another #1 ranking. And of course this could lead to more expansion of companies and that could mean leasing opportunities.

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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.

Maine is on track to become the first state to temporarily freeze large new data-center construction, with a bill that would pause projects of 20 megawatts or more until November 2027 while officials study grid and environmental impacts. Lawmakers are responding to fears that AI-driven power demand could strain electricity supplies and push already high residential power prices even higher. The measure appears likely to pass, especially with Gov. Janet Mills signaling support if certain planned projects, including one in Jay, are carved out.

The fight reflects a broader national backlash against the rapid expansion of data centers...   ...Full Story Here

RSK: I have a feeling WI will be right behind with some sort of moratorium.

Need to sublet extra office space?

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The concept of live-work-play (LWP) is not a new one, but the popularity of vertical villages that combine residential, office and retail spaces has been gaining ground throughout the U.S. with natural variations across locations. Especially when commuting to and from work takes roughly an hour per day, according to Census data (and even more in large cities, like Washington, D.C.; Boston; and New York), the prospect of having everything you need under one roof becomes all the more appealing.

With this in mind, we focused on identifying the top U.S. cities with the most live-work-play developments completed over the past 10 years and tracked their evolution during this timeframe. We also looked into the distribution of residential, office and retail spaces within these buildings; the building ratings; and the integration level of coworking spaces in the LWP developments. ..   ...Full Story Here

RSK: Seems to be a trend in large major cities. I believe Erdman had a small version of this in Middleton.

Breakfast meeting and CE-4 at Vogel

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

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After a strong performance in January and February, mall traffic, with the exception of open-air centers, decreased in March.

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RSK: After a few months of gain the visits have dropped a bit. Only open air malls continue the upward trend.

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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.

POYNETTE — In April 2025, Leah White and her aunt moved into an apartment in the new Point Gardens, an 80-acre development just beyond Dane County’s borders in neighboring Columbia County. White said she was seeking housing at an affordable price point and a community that felt safe, healthy and connected.

Her window overlooks a courtyard of community gardens that have yet to awaken, but they’re beautiful during the growing season, she said. White has cultivated tomatoes, strawberries, lettuce and rhubarb.

“I feel like this is the type of neighborhood I had when I was a kid, where people are starting to know everybody, all the kids know everybody,” she said. She added that her new home, while not inexpensive, is more affordable and nicer than other nearby options and offers a better quality of life...

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RSK: Well done Randy and outside of Dane County to boot!

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New research out of Dallas is adding fuel to one of real estate’s most persistent debates. A study analyzing two decades of transactions found that homes sold as “pocket listings,” or off-market deals, achieved an average 1.7% price premium compared to MLS-listed properties. But that edge appears fragile. After the introduction of the Clear Cooperation Policy, the premium dropped to statistically insignificant levels, suggesting the advantage may have already been competed away. The findings also cut against other industry research, with some firms arguing that sellers who avoid the MLS typically leave money on the table.

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RSK: I believe the seller should have control over this. Tell them the facts and see if they would like a pocket listing for a few days before the MLS rules or the unspoken rules of the industry kicks in. I do think however that the most exposure to the property often times yields a better price.

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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

Every car sold in America carries a number that follows it from the assembly line to the junkyard. It survives accidents, title transfers, and ownership changes. It is the reason a buyer at a used car lot can pull up a vehicle’s full history in seconds. Buildings, which cost orders of magnitude more than cars and anchor trillions of dollars in capital, have nothing like it.

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RSK: I guess it wouldn't hurt but I do not see any immediate rush on this.

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

The office market may finally be entering the phase many have been waiting for, but few owners wanted to face. Some office buildings are trading at discounts of up to 90 percent from their prior valuations, a level of price discovery that signals something more than distress. It suggests capitulation. After years of holding out for a recovery that has yet to fully materialize, some owners are beginning to accept that the value of their assets has fundamentally changed.

These transactions are no longer isolated. In cities like San Francisco, Los Angeles, and Washington, D.C., office towers have been sold at steep losses compared to their pre-2020 pricing...   ...Full Story Here

RSK: Office prices finding their bottom number.

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February had its fair share of retail real estate development news, tenant updates, property acquisitions and more.

Here are some of the biggest real estate news stories from the month (starting with the most recent).

• Live entertainment arrives at Pacific City center in SoCal This summer, Pacific City in Huntington Beach, Calif. will welcome a musical legend to its tenant roster — The Lighthouse, one of the legendary outposts of West Coast jazz beginning in the 1950s. Originally established in Hermosa Beach, its stage welcomed jazz legends the likes of Miles Davis, Ramsey Lewis, Chet Baker, and Mose Allison.
  
  
• Outlet pioneer Steven B. Tanger announces his retirement After 40 years of service in the company that was started by his father and grew into the nation’s leading brand of bargain-priced, outlet retail, Steven B. Tanger will step down as Tanger Inc.’s chair of the board in May. Tanger was named the board chair in January 2021 after serving as the company’s CEO for 11 years...

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RSK: A retail roundup for top stories this week.

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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.

Despite predictions it would be a game changer, the metaverse has so far proven to be a niche retail channel.

The advent of the metaverse as a major topic of digital commerce conversation can be traced to October 2021, when Facebook changed its corporate identity to Meta. This reflected the tech giant shifting its focus to the metaverse, a lifelike digital environment consumers use augmented and virtual reality technology to engage with each other and their surroundings, with crossovers into the physical world. 

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RSK: Hard to beat physical touch and feel for retail. A new word for you..."phygital" the cross between physical and digital shopping.

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 ...

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U.S. office vacancy hit a new high as commercial real estate’s subdued 2025 performance carried into the first quarter of 2026, according to a report from Moody’s Analytics.

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RSK: And here is why office sale prices have hit rock bottom.

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Palm Beach County has become one of the country’s most active office development markets, with the West Palm Beach-Boca Raton area ranking fifth nationally for office space under construction in CommercialCafe’s latest annual Office Pipeline report. As of January, the market had nearly 1.6 million square feet of office space in development, trailing only Boston, Manhattan, Dallas, and Los Angeles. That puts it ahead of much larger markets such as Austin and San Diego and marks the first time West Palm Beach-Boca Raton has reached the top tier of the annual ranking.

South Florida more broadly is also showing notable office development activity. Miami ranked 11th nationally with just under 800,000 square feet of office space underway, while Fort Lauderdale had another 180,000 square feet in the pipeline but did not make the top 20. Altogether, South Florida accounted for about 8.9 percent of the 28.9 million square feet of office space under construction nationwide as of January, giving the region an outsized share of new U.S. office development...

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RSK: South Florida seems to be a boom market for new office space.....again some good news for the office sector.

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Commercial Real Estate Loans, All Commercial Banks

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RSK: Banks are lending again on commercial real estate....good news.

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RSK: This will put some pressure on the pricing of warehouse/distribution.

	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

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