The annual BizTimes Commercial Real Estate & Development Conference, southeastern Wisconsin’s premier networking and information event for the industry, will be held on Thursday, starting at 7:30 a.m., at Potawatomi Bingo Casino, 1721 W. Canal St., Milwaukee.
Online registration is no longer available for the event, but attendees can still register at the door. Registration begins at 7 a.m.
Milwaukee Mayor Tom Barrett will provide the opening remarks at the conference. He will discuss the city's outlook for development and set the stage for a discussion featuring a panel of national commercial real estate experts.
The panelists will share their insights about national statistics and trends and offer their perspectives about the possibilities and the limitations of the Milwaukee market.
The national experts on the panel will include:
• Robert Bach, senior vice president and chief economist of Grubb & Ellis Co. Based in Chicago, Bach has 35 years of experience in real estate market research, consulting and city planning. A member of the Conference of Business Economists and the Counselors of Real Estate, Bach authors the company's national market publications, is a frequent speaker at industry events and is quoted widely in the trade and business press, including The Wall Street Journal, The New York Times, Bloomberg and a wide array of investment and real estate publications. Bach works with Grubb & Ellis researchers in more than 100 markets to ensure that the company's proprietary data is accurate and the analysis provided to clients is useful and insightful. The Milwaukee Grubb & Ellis affiliate is Apex Commercial in Brookfield.
• Rhyne Brown, executive vice president of client development at NAI Global. With a primary office in Newport Beach, Calif., and a regional office in Silver Spring, Md., Brown lead's NAI Global's national efforts in member-based business development and in the expansion of major NAI Corporate business accounts. Brown has represented clients in the acquisition or sale of more than $1 billion in real estate over his 35-year real estate career. Brown's clients have included IBM, The World Bank, First Union Bank, Bank America and PNC Bank. His specialties include investment sales, large-scale corporate developments and strategic facility planning. The Milwaukee NAI Global affiliate is NAI MLG Commercial in Brookfield.
• Jack Durburg, executive managing director of the Chicago region for CB Richard Ellis. In addition to leading the company's Chicago market team, Durburg provides oversight to CBRE's Minneapolis and Wisconsin markets. Through acquisition and strategic growth, CBRE has been recognized by Crain's Business Chicago as the No. 1 real estate services firm in leasing, sales and property management in Chicago, with 2008 gross revenues of $165 million. He serves as a real estate advisor to many of Chicago's largest corporations and institutional owners. CBRE has an office in downtown Milwaukee.
• Ross Moore, executive vice president and director of market and economic research at Colliers International Property Consultants Inc. Based in Boston, Mass., Moore is responsible for national market and economic analysis, strategic planning and new product development. Moore is a recognized expert on commercial real estate markets and a frequent speaker at industry conferences, where he provides commentary and analysis on industry trends. His national research reports are among the most respected in the nation. Moore is the current chair of the Urban Land Institute British Columbia District Council. The Milwaukee Colliers affiliate is Colliers Barry.
• Maria Sicola, executive managing director and head of research for the Americas at Cushman & Wakefield Inc. in San Francisco. During her tenure leading the company's research team, Sicola developed an award-winning database platform, Site Solutions, recognized by Bill Gates as a unique application of Microsoft's Access software. Her consulting work has focused on office market leasing analysis and forecasting. Some of her clients include New York Life, Trizec Properties, RREEF, Beacon Capital, Charles Schwab, Prologis and the LMDC (Lower Manhattan Development Corp.). She is an executive member of the Urban Land Institute. Sicola is a frequent speaker at industry conferences and is regularly quoted in publications such as National Real Estate Investor, Real Estate Forum, The Wall Street Journal and The New York Times, as well as on the web on Bloomberg and Reuters. The Milwaukee affiliate of Cushman & Wakefield Inc. is The Boerke Company Inc.BizTimes Milwaukee presents the conference annually in conjunction with the Bell Real Estate Chair and the Commercial Association of Realtors Wisconsin (CARW).
The annual BizTimes Milwaukee Commercial Real Estate & Development Book, featuring the Honor Roll of Prime Leasable Commercial Real Estate and other exclusive market data, will be published in conjunction with the conference.
More information is available at: http://www.biztimes.com/site/commercial-real-estate-development-conference

Fond du Lac-based Wisco Hotel Group plans to build a 120-room hotel on a vacant 7.5-acre property behind the Candlewood suits and Fairfield Inn hotels that it opened earlier this year at 6440 S. 13th St.
Wisco Hotel Group purchased the site for the third hotel from Edgerton Contractors.
The company recently received a $615,000 brownfield grant form the state for the project. The total project cost is estimated at $17.4 million
An Oak Creek official said the city has not been notified about any details for the project, including the hotel brand.
The site is near Mitchell International Airport in an area that has attracted several new hotels and hotel remodeling projects in recent years.

A former Menard’s store at 8365 N. 76th Street on Milwaukee’s northwest side will reopen this weekend as the Mil-Town Marketplace, described as a “shopper-tainment” experience.
The 100,000 square foot building has been divided into a multi-tenant marketplace, which its operators say will be a shopping experience unlike anything else in the Milwaukee area.
“We’re filling (the space) with a new retail concept – part 7 Mile Fair, part big box store,” said Michael Short, co-owner and operator of the market.
The Mil-Town Market will feature multiple vendors, in spaces ranging from 100 square feet to several thousand square feet. It will feature new startup businesses, small retailers and existing retail chains who wish to open a closeout or clearance location, Short said.
Vendors will sell new overstock, closeout and discontinued items, and some booths will feature rummage and gently used items. The marketplace will also feature several food vendors and live music.
When it opens this weekend, the Mil-Town Market will occupy about 22,000 square feet of the building’s space and will feature about 100 retailers. The market will be open Saturdays and Sundays from 9 a.m. to 5 p.m.
While the Mil-Town Marketplace will open in a fraction of the available space, its operators are confident that it will expand significantly in the near future.
“We’re actively talking with several midsize stores such as clothing, electronics and mattress stores,” he said. It appears that we have tapped into something that there is an appetite for. Now it’s a matter of bringing it to life.”
The former Mendard’s store also features an 18-acre parking lot. Free parking will be available for Mil-Town Marketplace – and a portion will also be used for U-Sell Auto, the first for sale by owner auto marketplace in Wisconsin.
For a $25 fee, vehicle owners will be able to park their vehicles on the lot on Saturday and Sunday. A U-Sell Auto worker will also assist sellers with the sale process, Short said.
“This is a convenient, public spot with a lot of foot traffic volume,” he said.
The Mil-Town Market is a separate project from the Asian market that Pai Yang, Tou Vang and Thai Vang plan to establish at 6300 N. 76th St. They plan to establish the Asian marketplace in an existing 13,940-square-foot building on the 3-acre site and with a proposed new two-story, 69,888-square-foot building. That business will operate similar to a mini markets mall. Ten-foot by 10-foot stalls will be divided up in the buildings and will be leased to vendors, which will be charged a monthly fee. The existing building will have 65 stalls and the new building will have 375 stalls. The new building will also have a food court with 4 coffee houses and 8 restaurants.

Home sales in Wisconsin were up 5.8 percent in the third quarter compared to the third quarter of 2009, according to a new report from the Wisconsin Realtors Association.
That is ahead of the 5.2 percent increase in the quarter for the Midwest and just behind the 5.9 percent increase for the entire U.S.
The third quarter increase is the first quarterly increase in Wisconsin home sales since the fourth quarter of 2007.
“We are finally seeing signs of recovery in the housing market,” said John Flor, chairman of the board for the Wisconsin Realtors Association. “This deep and lengthy recession has kept many buyers on the sidelines for the better part of two years.”
Low mortgage rate and the tax credit for first time home buyers has stimulated the market, Flor said.
“With mortgage rates in the 5 percent range and the tax credit putting up to $8,000 in the pockets of first time home buyers, the market saw a real boost,” he said.
In southeastern Wisconsin most counties had an increase in home sales during the third quarter:

• Milwaukee County, up 9.4 percent
• Washington County, up 6.4 percent
• Sheboygan County, up 5.2 percent
• Waukesha County, up 4.9 percent
• Racine County, up 3.9 percent
• Kenosha County, down 3.6 percent
• Ozaukee County, down 5.3 percent
• Walworth County, down 7.0 percent

However, the prices of homes sold were down 6.3 percent in the quarter. The median home price in Wisconsin fell to $148,000 in the third quarter.
“Over the past year we’ve seen a shift from higher priced homes to lower priced homes, so the median price naturally falls,” said William Malkasian, president of the Wisconsin Realtors Association.
Wisconsin home prices held up better than the nation as a whole, which had a reduction of median home prices, which declined 11.2 percent in the quarter.
“Wisconsin home prices are not nearly as volatile as we have seen in other parts of the country and so purchasing a home in Wisconsin remains a very stable way to build household wealth,” Malkasian said.
Every southeastern Wisconsin county had median home prices decline during the third quarter:

• Kenosha County, down 13.6 percent, to $166,700
• Washington County, down 12.8 percent, to $202,200
• Milwaukee County, down 9.7 percent, to $155,000
• Ozaukee County, down 8.2 percent, to $242,500
• Racine County, down 8.1 percent, to $154,500
• Sheboygan County, down 6.9 percent, to $136,500
• Waukesha County, down 3.1 percent, to $242,300
• Walworth County, down 2.0 percent, to $176,900

Foreclosure rates in the Milwaukee area increased to 2.15 percent in September, up from 1.58 percent in September of 2008, according to a new report from Santa Ana, Calif.-based First American CoreLogic Inc.
Foreclosure rates in Wisconsin increased to 1.99 percent in September, compared to 1.4 percent in September of 2008, according the report.
The national foreclosure rate is even higher, 2.93 percent in September compared to 1.67 percent in September of 2008.
Delinquency rates are also up locally and nationally. The 90-plus day delinquency rate in the Milwaukee area was 5.18 percent in September, up from 3.95 percent in September of 2008, the report said. Wisconsin’s 90-plus day delinquency rate was 4.52 percent in September, up from 3.14 percent in September of 2008. The national 90-plus day delinquency rate was 7.27 percent in September, up from 4.38 percent in September of 2008.

Pandl's in Bayside, which opened in 1968, will close after serving brunch on Sunday.
The restaurant is closing because it has been sold by the owner, Jimmy Pandl, a restaurant manager said.
Pandl's in Bayside was built by George Pandl, who sold it to Jimmy, his son, in 1987.
Jimmy also operates Eagan's on Water, Milwaukee Waterfront Deli and Pandl's Catering Complete.
The Pandl restaurants started in 1915 when Anna and John owned what is now called Jack Pandl's Original Whitefish Bay Inn. John Pandl died in 1932, and Anna eventually passed the business on to her sons George and Jack.
Today, Jack's son, John, is operating the Whitefish Bay restaurant.
The closing of Pandls in Bayside will not affect any of the other restaurants, the manager said.

Triad Construction Inc. has moved to a larger facility in West Allis at 2077 S. 116th St.
The construction firm said the expanded new location will support its steadily growing roster of employees and work.
The company was previously located in West Allis at 1828 S. 76th St.
"We are all very excited about the move, and I know it will enhance our ability to provide the quality craftsmanship and service our clients have come to expect from us," said Mike Long, executive vice president of Triad Construction.
Triad Construction was named to the Council of Small Business Executives list of Future 50 companies for the second time this year.

CB Richard Ellis

• Petco leased 13,937 square feet of retail space in the Oak Creek Shopping Center at 8561 S. Howell Ave., Oak Creek.
• Aspen Dental leased 3,246 square feet of retail/office space in the former Lohman's Center at W183 N9609 Appleton Ave., Germantown.
• Sally Beauty Supply leased 1,556 square feet of retail space at The Shoppes at Prairie Ridge at the southeast corner of Highway 50 and 104th Street in Pleasant Prairie.

Judson & Associates

• Pump Restore LLC leased 2,400 square feet of space at 2111 S. West Ave., Suite 53, Waukesha, from Waucom Partners LLC.
• Mark R. Rhode & Rhode Towing Inc. leased 2,100 square feet of space at 1638 S. West Ave., Waukesha, from D&R Investments.
• Universal Wireless Inc. leased 1,400 square feet of space at 2450 Grandview Blvd., Waukesha, from 2450 Grandview Crossing LLC.
• William Huss CPA leased 650 square feet of space at N64 W24050 Main St., Sussex, from Dennis Zabinski.

Ogden & Company Inc.

• Spectrum Healthcare LLC leased 1,525 square feet of space, Creatonomy Inc. leased 1,498 square feet of space, Five Twelve Group leased 1,231 square feet of space and Fleming Dermatopathology LLC leased 914 square feet of space in the Northern Lights Office Building at 1661 N. Water St., Milwaukee.

RFP Commercial

• National Salt leased 100,800 square feet of industrial space at 4200 39th Ave., Kenosha, from Carter Property Management.
• A/E Graphics leased 5,204 square feet of industrial space at N56 W13525-645 Silver Spring Dr., Menomonee Falls, from BREOF AIP Wisconsin LLC.
• Hales and Wagner leased 4,773 square feet of office space at 839 N. Jefferson St., Milwaukee, from 839 N. Jefferson Street Partnership.
• Perry Capital Management leased 2,609 square feet of office space at 11270 W. Park Place, Milwaukee, from Transwestern Commercial.
• AthletiCo leased 2,000 square feet of retail space at 2615 N. Downer Ave., Milwaukee, from LDC-2615 Downer LLC.
• Simon Oliver Menswear leased 1,074 square feet of retail space at 318 E. Silver Spring Dr., Whitefish Bay, from Silver Fox Properties.

Shorewest Racine

• Racine Kenosha Community Action Agency leased 29,733 square feet of space at 1800 21st St., Racine, from Wagner Real Estate Investment LLC.
• Drew Brothers Trucking leased 4,123 square feet of space at 1502 Durand Ave., Racine, from Racine Durand LLC.

Boerke Company

• Lance M. Quigley purchased a 24,042-square-foot industrial building at 3730 W. Douglas Ave., Milwaukee, from JP Management LLC for $200,000.

Colliers Barry

• 5th Ward Partners LLC purchased two industrial properties at 401-15 S. 3rd St., Milwaukee, and 422 S. 4th St., Milwaukee, in the city’s Walker’s Point neighborhood. The seller was Badger Trailer. 5th Ward Partners plans to occupy a portion of the buildings and has tenants lined up to occupy the remaining space. In the long term, the properties will likely be redeveloped.

Nashota-based MSI General Corp. was selected as the architect/engineer and construction manager for the renovation of the Ryder Truck shop facility located at 2605 S. Memorial Dr., Racine.

Menomonee Valley Industrial Center wins top brownfields honor
The Menomonee Valley Industrial Center and Community Park has won the Environmental Protection Agency Region 5 Phoenix Award. The award is the nation’s top honor recognizing excellence in brownfield redevelopment. The Industrial Center and Community Park project grew out of a plan, adopted by the City in 1998, that recommended that the City acquire and redevelop the 133-acre vacant Milwaukee Road Shops facility that was abandoned in 1985.  The project plan, which incorporated the results of a national design competition, sponsored by Menomonee Valley Partners, called for demolition of the buildings, remediation of soil and groundwater contamination, creation of a 60-acre business park, development of 35 acres of recreational space, and installation of new roads and related infrastructure. To date, six companies employing 700 people have constructed new facilities within the business park. They are: Palermo Villa, Charter Wire, Taylor Dynamometer, Caleffi N.A., Derse Company, and Badger Railing.

BizTimes Milwaukee Commercial Real Estate & Development Conference, Thursday, Nov. 12, Potawatomi Bingo Casino, Woodland Dreams Ballroom, 1721 W. Canal St., Milwaukee, registration and networking 7 a.m., event 7:30-9:30 a.m., seminars 9:45-10:30 a.m. For more information: http://www.biztimes.com/site/commercial-real-estate-development-conference

10th Anniversary of the Menomonee Valley Partners Inc. celebration, Wednesday, Nov. 18, 5 p.m., at Miller Park in Milwaukee.

NAIOP and CARW 2009 Market Update, Thursday, Dec. 10, 7:30-9 a.m., Italian Community Center, 631 N. Chicago, Ave., Milwaukee.

• SBT real estate archive
• Real Estate spotlight (October 30, 2009)

• Building Owners and Managers Association
• Certified Commercial Investment Members
• Commercial Association of Realtors Wisconsin
• CoStar Group
• Emporis Buildings
• Institute of Real Estate Management
• International Council of Shopping Centers
• Kenosha County property info
• LoopNet
• Menomonee Valley Partners
• Milwaukee Department of City Development
• Milwaukee property info
• NAIOP
• Reis
• Society of Industrial and Office Realtors
• Waukesha County property info
• Wisconsin Commercial Real Estate Women
• Wisconsin Development
• Xceligent