Market Insights

The Rock County Development Alliance has released its Rock Ready Index for the second quarter. Notable highlights from the economic development dashboard include:

Increasing e-commerce and food distribution demand was stressing manufacturer Pratt Industries’ production capabilities. Pratt, the fifth largest corrugated packaging company in the United States, had outgrown its satellite distribution facility and needed to expand into at least 100,000 square feet. Finding that space close enough to the production facility was difficult; at the time, the vacancy rate for the Janesville/Beloit market was less than 5%. In addition, Pratt still had more than 12 months remaining on its warehouse lease.

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Well, of course not—but for some tenants, it may seem so! In their recent article “Tenant’s Acceptance of Leased Premises: May The Tenant Always Beware”, authors Jim Hochman and David Lieberman point out five issues that tenants should consider before accepting a space. As they note, most landlords include in their leases a clause that absolves them of responsibility once the tenant takes possession.

As the 2019 fiscal year draws to a close, it is now almost two years after the Tax Cuts and Jobs Act was passed and more than a year and a half since the first opportunity zones were designated. Designed to spur economic development by delaying taxation on capital gains, the impact so far for investors has been somewhat nominal, to say the least (especially in our market).

As any commercial real estate professional will tell you, the industry has been witness to a number of changes—being subject to the impacts of the economy, industry trends, market challenges, and more. When looking at commercial real estate, it is crucial to focus not only on generational activity, but also on lifestyle trends.

FOR IMMEDIATE RELEASE - Janesville, WI (August 19, 2019) – Adam Shultz has joined Coldwell Banker Commercial McGuire Mears & Associates as a commercial real estate sales associate. The office is located at 400 Midland Court, Suite 101, in Janesville.

FOR IMMEDIATE RELEASE - By Ashley McCallum, Janesville Gazette The Janesville Plan Commission on Monday approved a plan to develop 260 apartment units just west of Interstate 90/39 off East Racine Street—but not without a lengthy discussion to clarify some details.