Market Insights

The demolition of the Janesville Perkins restaurant opens up space for new fast casual dining on Milton Ave.

BELOIT—A locally-based family business is poised to start construction on a site in the Gateway Business Park as the move will be the catalyst for employee and operations growth. Matthews Family Trucking LLC, owned by Byron Matthews, bought just over 8.1 acres of land at 3400 Venture Drive and 905 Tubbs Drive in the Gateway area to accommodate the rapid growth of the company that started in June of 2020.

Coldwell Banker Commercial McGuire Mears & Associates managing broker William Mears, CCIM, SIOR gives his thoughts gauging the performance of the commercial real estate market during Q2 2021.

Coldwell Banker Commercial McGuire Mears & Associates represented both sides in the 6.52% cap rate transaction transferring ownership of the building located at 2747 Milwaukee Rd in Beloit.

A Milton chocolate factory will get its ingredients delivered by rail thanks to a grant from the Wisconsin Department of Transportation. Gov. Tony Evers announced the grant Monday saying it will let the city of Milton to extend a Wisconsin Southern/WATCO rail line to the Clasen Quality Chocolate factory. The Transportation Economic Assistance grant will cover roughly 25% of the $1 million project.

Local plastics manufacturer GOEX has been riding a wave of increased demand that company officials say has them needing more capacity for more train cars of production materials at once.

What a difference a decade makes. While some may characterize the evolution of the development and investment climate of the Janesville- Beloit, Wisconsin metropolitan statistical area (MSA) with a population of 160,120 as an extreme makeover, others will note the area has been south central Wisconsin’s best kept secret. Case in point: the numbers speak for themselves, and local real estate and economic development officials are bullish on this location’s growth trajectory. For starters, the area’s logistical friendly environment, its value-add real estate and workforce assets and its seasoned development team provide the right ingredients to facilitate development opportunities.

Computers Nationwide approached Coldwell Banker Commercial McGuire Mears & Associates in late 2019 to help with their search for a new office space. Specifically, they were looking for a more central location for their employees; their labor force hails from southeastern Wisconsin down into northern Illinois. Moreover, the owner requested that the acquisition costs remain under one million dollars and for a prospective building to provide rental income that would help offset their debt service.

Beloit, WI (March 25, 2021) – Bill Mears of Coldwell Banker Commercial McGuire Mears & Associates has negotiated the sale of a 0.72-acre lot next to the Holiday Inn Express & Suites, representing the seller in the $376,000 transaction. The 124-room hotel, built in 2019, and its surrounding lots comprise the redevelopment of the former Wickes lumber yard.

We hear of sticker shock in and outside our market when it comes to construction prices. A recent article posited that the US construction industry is sputtering, impacting construction costs and timelines. In SC Wisconsin, we do not see a slowdown yet. Currently, SSI Technologies just broke ground on a 20,000 square foot addition, while Freedom Graphic Systems in Milton and Gallina USA in Janesville are wrapping up expansions of 90,000 square feet and 40,000 square feet, respectively. Badger Property Investments is scheduled to break ground on a 60,000 square foot building in Janesville on Monday, April 12th.