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Waushara County Circuit Court Judge Guy Dutcher has walked back his Aug. 24 ruling that the state of Wisconsin does not have the right to buy the Wisconsin Veterans Museum building on the Capitol Square, according to a report in the Wisconsin State Journal.

The state is embroiled in a fight with building owners to determine how to redevelop the 10-story building, located at 22 and 30 W. Mifflin St. in Madison.

State officials contend the building lease gives them the right to purchase the aging facility and even dictate how the purchase price should be set. Judge Dutcher’s ruling gives the state more time to present evidence of its claim.

The State Building Commission approved the purchase of the property for $9 million in August 2024, but property owners, who argue the property is worth more than $9 million, sued to block the purchase.

In his August summary judgment, Dutcher said the state’s purchase option expired several years ago and ruled in favor of the building owners...

Businesses that were hoping for some financial relief following this summer’s demonstrations at the intersection of Williamson and South Baldwin streets will not find help from the city of Madison.

The Madison City Council voted 13-7 Tuesday to reject a plan to provide $100,000 in financial relief to businesses affected by a protest encampment, according to a report in the Wisconsin State Journal.

The protest encampment sprang up and lasted about two weeks following the fatal police shooting of 38-year-old Corey Ruiz in July, causing some business to temporarily close and others to lose sales.

Ald. Davy Mayer, who represents the area, introduced a plan to establish a one-time relief fund for affected businesses.

The money would have come from a city reserve fund.

He said he decided to support the Finance Committee’s pared-down recommendation, rather than sticking with his initial proposal, because the $100,000 fund seemed more likely to pass...

In 2024, Madison's city leaders standardized an incentive that allowed developers to build additional stories on student housing projects if they offered some beds at lower rents.

Two years later, officials say the incentive has added 212 lower-cost beds for University of Wisconsin-Madison students, and by fall next year, a new complex at Broom and West Johnson streets will add another 165 beds. Three more projects in the pipeline could then bring Madison’s total of lower-cost student beds to 645 by fall 2029...

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Henry Doane, owner of the Tornado Steak House and Tempest Oyster Bar, plans to open a neighborhood-style restaurant and a boutique hotel in the 1000 block of Williamson Street in Madison, according to a report in the Wisconsin State Journal.

The first floor bar and restaurant and 10-room, second-story boutique hotel would occupy a redeveloped building at 1053 Williamson St. and an adjoining building at 1051 Williamson St...

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Some fundamentals are now approaching pre-pandemic levels.

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Sun Prairie has no current plans for a large data center, but the city council wants time to devise rules for any potential projects.

Last week, the Sun Prairie City Council enacted a 12-month moratorium on data centers exceeding 10,000 square feet, according to a report in the Wisconsin State Journal.

Part of the council’s reasoning is the city lacks access to a 138- or 345-kilovolt transmission system, which would be required for a data center of that size...

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MADISON, Wis. — Breese Stevens Field could receive major upgrades designed to support both Forward Madison soccer matches and concerts.

Big Top Events, the venue operator, said its plans include new buildings and a stage at the Madison venue. The proposal also includes new locker rooms, artist greenrooms and a new concessions area.

Conor Caloia, Big Top Events’ chief operating officer and partner, said the upgrades would expand the venue’s ability to host larger entertainment events while improving the experience for soccer fans.

“These improvements will allow us to bring more national acts to Madison while enhancing the soccer match-day atmosphere as part of a long-term commitment to the city of Madison,” Caloia said...

The multifamily market has spent the better part of two years absorbing the largest wave of new supply since the 1980s, and the numbers have finally caught up with the narrative. National vacancy has climbed to 8.6%, the highest level in years, while asking rent growth has flattened to roughly 0.2% annually. Absorption through the first five months of 2026 fell 61% year over year, with just 108,000 units absorbed. Occupancy has slipped to 94.1%, down 60 basis points from a year earlier, and among the top 30 markets tracked by Yardi, only San Francisco posted an occupancy gain.

“The second quarter this year was the big pivot everyone has been waiting for,” said Greg Willett, Chief Economist at LeaseLock. “We are starting to see price corrections, particularly for the bottom part of the market.” That correction has not translated into transaction volume, though, because the financing environment has not settled enough for buyers and sellers to agree on value. “The wildcard has been interest rates,” Willett said. “It has created some price correction but they haven’t stabilized in order to see better deals come to the market.” The result is a market where owners who might otherwise sell are holding assets, which puts more weight on operating performance to carry returns that would previously have come from a sale...

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Voter anger over higher electricity bills and grid strain is pushing governors in Texas and Pennsylvania to halt or limit new data center projects

Cerberus sold Tenet Equity for $1.6 billion

Cerberus Capital Management sold its five year old net lease portfolio, Tenet Equity, to CBRE Investment Management for $1.6 billion on Monday. Tenet’s portfolio currently holds more than 200 properties totaling roughly 12 million square feet across 39 states, 26 industries, and over 65 tenants. Five years from formation to a billion-dollar-plus exit is a fast build for a real estate platform, and the speed says something about how much capital is chasing this specific structure right now.

Net lease sits between two things investors want at the same time. Bob Davenport, Global Head of Corporate Credit at Cerberus, described it as an asset class at the intersection of corporate credit and real estate. The investor owns a building. The tenant signs a long lease and pays taxes, insurance, and maintenance on top of rent. What the buyer is really underwriting is the tenant’s ability to keep paying, which is a credit question more than a property question. That appeals to institutions that want duration and predictable cash flow without taking on lease-up risk or capital expenditure exposure...

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It's the first time since Bisnow launched its annual analysis of the industry’s upper-level diversity in 2020 that the industry's dominance by white men increased. Every prior year in the analysis showed gradual, steady gains in the diversity of CRE's upper echelon. 

This shift didn't come as a surprise to diversity advocates and employment attorneys, given how noticeably commercial real estate companies have backed away from their efforts to hire diverse executives as the Trump administration has cracked down on corporate diversity, equity and inclusion policies...

Question:

A licensee has a drone and would like to use it to take aerial photographs of a listed property for use in the property's advertising. The licensee does not have any FAA certification or other credentials to operate a drone commercially. May the licensee take and use drone photographs for the listing?

Answer:

A licensee who uses a drone to take photographs or videos of a listed property for use in marketing the property is operating the drone for a non-recreational purpose. The Federal Aviation Administration (FAA) regulates this activity under its Small Unmanned Aircraft Systems rules, commonly referred to as Part 107.

To operate the drone under Part 107, the person manipulating the drone's controls must hold an FAA Remote Pilot Certificate with a small UAS rating or be under the direct supervision of a person who holds such a certificate. A licensee who does not hold a Remote Pilot Certificate therefore should not independently operate a drone to take photographs or video for a listing....

          

	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 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