MADISON – 3/28/2013 Replacement of the colossal eyesore that is the Department of Transportation building at Hill Farms would be a shot in the arm for the area, says the west-side alder whose district includes the site. “It will definitely provide a boost over there because you’re going to have just from the employees alone more people utilizing Hilldale and the other retail businesses in the area,” says Ald. Chris Schmidt. “And also if they go ahead and sell off part of the property for another use, which is part of the plan, that will also provide some potential opportunities when somebody develops that.” The state Building Commission last week approved Gov. Scott Walker’s plan to replace the 49-year-old DOT headquarters with a new $196.6 million, 600,000-square-foot building. The current building is a 368,000-square-foot windowed rectangle reminiscent of south Chicago public housing….
Wisconsin – 3/28/2013 What if you could create more jobs than mining, set aside tens of thousands of acres for public use, collect more tax dollars without raising taxes, and help restore the economies of communities large and small across the state. I believe we can and the best part is that we will be using much Illinois and other out of state money to do it. Clearly we need jobs and revenue to grow Wisconsin. We are getting close to allowing mining and other ventures to use our land and water to accomplish this. Once these resources are depleted we will find it difficult to restore them for future generations. We need a solution that preserves our natural resources, creates new jobs, and works in many communities across the state. …
Wisconsin – 3/28/2013 A New York private equity firm plans to buy two Wausau Paper mills in Wisconsin. Wausau Paper, of Mosinee, said late Thursday it has signed a non-binding letter of intent to sell its Rhinelander and Mosinee specialty paper mills to NewCo, a new company to be formed and controlled by investment funds sponsored by KPS Capital Partners, for $130 million cash. KPS also has signed a non-binding letter of intent to buy another company and combine it with the operations of the two Wisconsin mills. The other company was not named in Wausau Paper’s news release….
Wisconsin – 3/28/2013 The growth of the craft beer industry is no secret in Wisconsin, home to 75 breweries and brewpubs including major players like New Glarus Brewing Co., Stevens Point Brewery and Madison-based Great Dane Pub & Brewing Co…
MADISON – 3/28/2013 U.S. home prices rose in January at the fastest annual pace since June 2006, just before the housing bubble burst. The gain shows the housing recovery is strengthening ahead of the all-important spring buying season….
Milwaukee – 3/28/2013 In a story headlined, “The Capital of Water,” the April 15 edition of Forbes magazine takes note of Milwaukee’s ongoing transformation to become the “Silicon Valley of water technology.”…
Milwaukee – 1/19/2012 Journal Sentinel business reporter Tom Daykin talks about commercial real estate and development, including stores, hotels, offices, condos, apartments and industrial buildings…
Wisconsin – 3/28/2013 ABC Supply Co. in Beloit has purchased the assets of Michigan-based Lee Wholesale Supply, a distributor specializing in steep-slope roofing, siding and windows. Lee has Michigan locations in Livonia, Macomb, New Hudson and Port Huron…
Pleasant Prairie – 3/28/2013 L&M Corrugated Container Corp. plans to move its Zion, Ill. operations to a 99,838-square-foot building that it plans to purchase in Pleasant Prairie. The company, which also has a plant in Platteville, plans to move all of its equipment and all of its 43 full-time and two part-time employees from its Zion, Ill. plant to Pleasant Prairie….
Posted: 23 Mar 2013 04:49 PM PDT
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Posted: 23 Mar 2013 04:44 PM PDT
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Investors now have one less thing to worry about: despite warnings from experts, another wave of delinquencies, defaults and foreclosures did not strike commercial real estate in 2012.
Instead, delinquency rates continue to slowly, steadily improve. “Every quarter, delinquency rates are ticking lower and lower,” says E. J. Burke, executive vice president and group head for KeyBank Real Estate Capital.“Our asset quality today is better than it has been since before the crisis.”
Last year was supposed to be a big, bad year for delinquent loans. More than $100 billion in commercial and multifamily mortgages came due in 2012. Many experts worried that there would be a toxic wave of overleveraged mortgages, originated in the easy-money days of the real estate boom, based on lax underwriting and inflated property values. They would be impossible to refinance using today’s properties values and tighter underwriting rules. Another catastrophe could be on its way.
(Janesville, WI) – GOEX Corporation, a manufacturer of extruded plastic sheet products, announced that it intends to expand and relocate its Janesville operation. The project involves the development of a rail served greenfield site, which will house a new 160,000 SF production, warehouse and corporate office facility. With a projected investment of $13 Million, this project will retain 130 positions and add another 70 +/-. Construction is expected to begin summer 2013, with initial operations pegged for mid-to-late 2014.
Established in 1989, GOEX supplies various packaging and printing markets that range from medical to retail. In addition to the company’s proprietary resin blends, GOEX is recognized for its environmental business practices. For more information about GOEX, visit www.goex.com .
The City of Janesville and County of Rock are facilitating this project, with additional support pending from the State of Wisconsin. Architectural, mechanical, structural and site design services are being provided by Angus-Young Associates, Inc.
According to James Otterstein, Rock County Economic Development Manager, “This project provides another visible example of the deep and strong manufacturing roots that exist within the Janesville-Beloit MSA. Additionally, it reinforces the critically important roles that public/private partnerships play within today’s competitive economic development arena.”
Verona – 3/6/2013 The CEO and founder of medical software giant Epic Systems has landed on Forbes list of the world’s 1,000 billionaires….
Wisconsin – 3/6/2013 The political power of Wisconsin’s road builders goes all the way back to 1945. That’s when after years of lobbying, the association representing the industry that builds our roads and highways succeeded in getting the Legislature to segregate the state highway fund from the regular budget…
Dane County – 3/6/2013 Active listings and months of supply dropped sharply again for Dane County’s housing market in February, compared to the previous year. On Feb. 28, combined home and condo inventory stood at 3,236 units, down 708, or 18 percent, from the same date in 2012, according to the South Central Wisconsin MLS….
Wisconsin – 3/6/2013 Construction in Marinette of specialized combat ships for the Navy will not end anytime soon and will continue to include work in Beloit. The Pentagon this week awarded a $697 million contract to Lockheed Martin for the construction of two Littoral Combat Ships. The bulk of the work will be done at the Marinette Marine Corp. shipyard in northeast Wisconsin but the two diesel engines required for each ship will be built at Fairbanks Morse Engine in Beloit…
Stoughton – 3/7/2013 The Common Council unanimously accepted a landowner’s counter-offer last week in a deal that will add 36 acres to the city’s Business Park North. The city is using funds available in Tax Incremental Financing District 3 to cover the $1.36 million cost of the land. The property is part of the Moe Family Farm and is adjacent to the Business Park….
3/7/2013 Gov. Scott Walker will consider modifying a controversial provision in his budget proposal that would lift limits on how much land foreign investors can own in Wisconsin…
EMCO Chemical Distributors Inc. will move its corporate headquarters from North Chicago, Ill. to a 260,000-square-foot facility in Pleasant Prairie.
The move will bring about 125 employees to Kenosha County, company president Edward Polen said.
EMCO purchased the Pleasant Prairie building, located at 8601 95th St., in 2010. Since then the company has working on plans to prepare the facility for its operations. The building has about 25,000 square feet of office space. The rest will be used for manufacturing and distribution operations.
EMCO bought the Pleasant Prairie facility from Hexicon Specialty Chemicals, which ceased operations there in 2009.
The company decided to move to the Pleasant Praire facility because it has run out of space in North Chicago and needed additional rail access, Polen said.
(Nick Nelson, CCIM – Mar 05, 2013)
(Jonathan Bowden – Mar 01, 2013)
(Simeon Spirrison – Feb 28, 2013)
(Joshua Levin, CCIM – Feb 28, 2013)
(Alex Johnson, CCIM – Feb 22, 2013)
(Kamlesh Shah CCIM – Feb 17, 2013)
(Kim Jackson – Feb 14, 2013)
(Simeon Spirrison – Feb 14, 2013)
(Steve Massell – Feb 05, 2013)
(Simeon Spirrison – Jan 31, 2013)
The S&P 500 gapped over the February highs and has continued up. Right now all those distribution days clustered together are just an after thought. The index will now regain the ascending channel it had been traveling since mid November, and a close around these levels should bode positive go forward.
“The NMI™ registered 56 percent in February, 0.8 percentage point higher than the 55.2 percent registered in January. This indicates continued growth at a slightly faster rate in the non-manufacturing sector. This month’s reading also reflects the highest NMI™ since February 2012, when the index registered 56.1 percent. The Non-Manufacturing Business Activity Index registered 56.9 percent, which is 0.5 percentage point higher than the 56.4 percent reported in January, reflecting growth for the 43rd consecutive month. The New Orders Index increased by 3.8 percentage points to 58.2 percent, and the Employment Index decreased 0.3 percentage point to 57.2 percent, indicating growth in employment for the seventh consecutive month. The Prices Index increased 3.7 percentage points to 61.7 percent, indicating prices increased at a faster rate in February when compared to January. According to the NMI™, 13 non-manufacturing industries reported growth in February. The majority of respondents’ comments reflect a growing optimism about the trend of the economy and overall business conditions.”
WHAT RESPONDENTS ARE SAYING …
- § “Our business is beginning to turn up slightly.” (Health Care & Social Assistance)
- § “Business seems to be improving; RFQ volume and orders also up.” (Management of Companies & Support Services)
- § “Continuing to see slight uptrend in activity, primarily related to 1st quarter initiatives started.” (Finance & Insurance)
- § “Construction market showing some positive signs.” (Real Estate, Rental & Leasing)
- § “The economy continues to slowly pick up, perhaps at an even faster pace than had been previously projected. New housing permits and business licenses are at a multiyear high, although still lower than pre-recession.” (Public Administration)
- § “February bouncing back to forecast levels, which was 11 percent over 2012.” (Wholesale Trade)
- § “Business is picking up; more projects to bid and things are improving.” (Construction)
Last May, the California State Teachers’ Retirement System (CalSTRS) paid roughly $800 million for a majority interest in LCOR, an investment, management and development firm whose portfolio includes 7,400 multifamily units, 7.7 million sq. ft. of commercial space and multiple development projects.
In June, the California State Public Employees’ Retirement System (CalPERS) plunked down $100 million for one-third of Bentall Kennedy, a real estate investment advisor with $8.4 billion in U.S. assets under management.
And in December, the Teachers Insurance and Annuity Association College Retirement Equities Fund (TIAA-CREF) agreed to pay $250 million for a 49 percent equity stake in a high-rise apartment tower at 8 Spruce Street, in downtown Manhattan, and put down another $551 million for a 70 percent stake in MiMA, a luxury mixed-use complex at West 42nd Street.
With the help of low mortgage rates and inventory levels, the euphoria in the real estate market continues to build higher. In January, home prices increased on a year-over-year basis for the eleventh consecutive month.
CoreLogic, a leading property information and analytics provider, reported its home price index gained 0.7 percent in January from the previous month. Compared to a year earlier, home prices across the nation jumped 9.7 percent, the biggest increase since April 2006. All but two states, Delaware and Illinois, posted year-over-year price gains.
Full Article at: http://wallstcheatsheet.com/stocks/home-prices-continue-to-fuel-real-estate-euphoria.html/?ref=YF
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