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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...

Lands` End is forming a joint venture with brand management and acquisition company WHP Global in a deal that will provide the apparel brand with $300 million in cash.

As part of the joint venture, the women`s apparel retailer will contribute all of its intellectual property and related assets associated with its brand, including all of the license agreements entered into in connection with Lands’ End’s licensing business.  WHP Global will pay Lands’ End $300 million in cash for a 50% controlling ownership stake. The brand intends to use proceeds from the sale to, among other things, fully repay its outstanding term loan, which was approximately $234 million as of Jan. 26, 2026, and for general purposes.

The deal comes nearly one year after Lands` End announced it was exploring strategic options, which could include a sale, to maximize shareholder value...

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RSK: I wonder if this will mean more Brick n Mortar presence.

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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.”

SCANNING THE HORIZON

Slight uptick in transaction activity did not improve the market but may be a sign the

• Vacancy 15.9%, Availability 17.6% - Vacancy has flatlined and availability is slowly decreasing
  
  
• 2.2% Dane County unemployment* - steadily decreasing and remains low compared to 4.4% nationally.
  
  
• 7 new transactions greater than 5,000 SF, a hopeful sign

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RSK: Broadwing-Advisors Q4 office report.

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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.

FOR IMMEDIATE RELEASE

January 27, 2026 

Media Contact: 

deforest@muellercommunications.com 

(414) 390-5500

DEFOREST, WIS. – Here is a statement from the Village of DeForest regarding next steps on review of the Annexation Petition related to QTS Data Centers’ proposed development: 

After individual discussions with the Village Board trustees, Village staff have determined that QTS’s data center proposal is not feasible in DeForest. Village staff have recommended to the Village President to reject the annexation petition during the Feb. 3 Village Board meeting. Consideration of this action will be reflected in the forthcoming meeting agenda...

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RSK: I am not sure if this is good or bad...probably a little of each. Meanwhile, in SE Wisconsin, plans for several data centers move ahead. Good or Bad

1200 John Q Hammons Dr Madison, WI	8040 Excelsior Dr Madison, WI	1255 Fourier Dr Madison, WI	8000 Excelsior Dr Madison, WI
8025 Excelsior Dr Madison, WI	8030 Excelsior Dr Madison, WI	8020 Excelsior Dr Madison, WI	1241 John Q Hammons Dr Madison, WI

8150 Excelsior Dr Madison, WI

1289 Deming Way Madison, WI

918 Deming Way Madison, WI

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For over 45 years, The Gialamas Company has brought real estate development, brokerage, leasing and building management expertise to the City of Madison and the State of Wisconsin.

“Jobs are going to be impacted by what’s happening with AI over time,” Amazon CEO Andy Jassy said before the layoffs were announced

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RSK: I said earlier, Ai will be taking more jobs than creating them.

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

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Enterprise teams anchor new leasing demand

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RSK: One of the major reasons for this growth is the dishing of long term leases. Shorter terms allow companies to be more flexible on the amount of space needed as it ebbs and flows with hybrid work habits.

Join us for a cocktail party/meeting to celebrate the

2025 Deal of the Year Awards!

February 26, 2026

4 to 8 PM

The Madison Club

Everyone is welcome to arrive at 4:00 p.m. with the awards ceremony beginning at 5:30 p.m.

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Money flooded back into the office market last year, but it wasn’t spread evenly among building classes, according to a new report

Lenders outlaid nearly $46B in loans in 2025, a 92% increase from the year prior, according to a study by Avison Young. But 70% of new loan originations were for trophy office assets.

Lenders also preferred top gateway markets, with office loan originations jumping nearly 560% in Silicon Valley to $883M, more than 300% in Manhattan to $23.5B and 127% in Orange County, California, to $847M, the study shows.

At the same time, lenders pared back on office loans in Phoenix, Los Angeles and Washington, D.C. The capital district, for example, saw a 36% drop in office loan originations, totaling $713M, compared to 2024...

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RSK: Well, a bit of good news, the downside is that 70% of the money flowed into prime trophy office buildings leaving ones that needed it the most out in the cold.

Government Day in Madison

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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

Question:
The licensee is listing a property. The owner`s son is an attorney, and he helped the sellers fill out the "Condition Report" on the attorney`s condition report form. Can the licensee use that for the listing?
Answer:
Sellers are required to disclose defects, per Wis. Stat. Chapter 709. Generally, sellers of one-to-four dwellings are required to complete a Real Estate Condition Report. Therefore, when a seller accurately completes a RECR, the seller discloses information about known defects in the property to prospective buyers. Although the seller is required to complete a RECR, the seller does not necessarily have to use the WRA`s RECR (WRA-CR). The seller is required to complete a RECR that meets the requirements of Wis. Stat. § 709.03. 

If the sellers have provided a RECR completed with the assistance of legal counsel, the listing licensee may provide the RECR to buyers upon the sellers` instructions...   ...Full Story Here

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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 Madison City Council has approved plans for an eight-story hotel in downtown Madison where the former Madison Area Technical College downtown campus stood at 211 N. Carroll St., the Wisconsin State Journal reports. 

The site has remained vacant since 2020, but now a 205-room Drury Plaza Hotel could begin construction later this year. 

The hotel plans include a bar and restaurant, meeting room, fitness area and pool and about 180 enclosed parking spaces.

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RSK: Such a prime location. I personally thought it might be more of a mixed use project. Apartments, restaurants and a small hotel. At least something is finally being done with that hole.

75 Gasser Rd Wisconsin Dells, WI

4711 Farwell St McFarland, WI

808 Industry Rd Sauk City, WI

426 Gammon Pl Madison, WI

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Executive Summary

– The overall multifamily vacancy rate increased by 50 basis points (bps) in Q4 to 4.9%,
as new deliveries outpaced net absorption for the second consecutive quarter.

– Average effective rent growth in Q4 slowed to 0.2% year-over-year and negative 1.4%
quarter-over-quarter, a seasonally typical slowdown.

– Net absorption was negative (-8,300 units) for the first time since Q4 2022.

– Twenty-six of the 69 markets tracked by CBRE recorded positive net absorption in Q4.

– Construction completions totaling 94,500 units fell by only 3% quarter-over-quarter,
but more sizable declines are expected in coming quarters.

– Annual multifamily investment volume for 2025 increased by 9.1% to $161.6 billion.
Excluding Blackstone’s entity-level acquisition of AIR Communities in 2024,
annual volume rose by 18.8%.   ...Full Story Here

RSK: With less construction, looks like everyone focused the money and effort into data centers. That gave multifamily time to catch up.

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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.

ABR Designation Course 
with Lynn Madison

Thursday, March 12, 2026 9:00 AM
Friday, March 13, 2026 4:00 PM (CDT)

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6504 Ronald Reagan Ave, Madison, WI	Madison East Business Center 4602 S Biltmore Ln, Madison, WI	4602 S Biltmore Ln Madison, WI

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For decades, the federal government has been one of the most stable tenants in the U.S. office market. Long lease terms, limited sensitivity to market cycles, and a willingness to occupy buildings that private tenants often bypass made federal agencies a stabilizing force, particularly in secondary and tertiary office stock. That stability is now eroding. Workforce reductions, telework policies, and a renewed focus on efficiency are pushing agencies to reassess how much space they actually need. The result is a steady, largely under-the-radar return of federal office space to the market.

This moment has been building for years.    ...Full Story Here

RSK: There is more to this than just cancellations. Most lease cutbacks are owned by the Feds. Others are Class B space which may allow for adaptive reuse which lends itself to opportunity. Good article.

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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

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A complement to Hilton’s acquired Graduate brand, Undergraduate by Hilton would target small college towns in secondary and tertiary markets, Skift reported.

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RSK: Madison might be a bit too large for an Undergraduate, but the concept is good.

	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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