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2nd Qtr 2020 Newsletter

July 01, 2020

1st/2nd Quarter 2020


In light of the COVID-19 pandemic we thought we would attempt to "Stay Connected" via more frequent emails to our clients, customers, friends, family and newsletter subscribers.  While we hope all continue to stay healthy and safe, we are happy to bring this combined 1st & 2nd Quarter 2020 to your inbox.  Going forward Judson and Associates, s.c. will continue to bring you market and company updates with our newsletter each quarter.


Here's a glimpse into the state of the Commercial Real Estate Market, written by the Global President for the Society of Industrial and Office Realtors (SIOR) and the President and co-Founder of Sentry Commercial as found in NREIs 2020 Midyear Outlook

"Don't look now but 2020 is half over! Where the heck did the first six months go? Of course, no one even remembers most of the first quarter, but if you do, things were going great in January and February! In fact, many of us in commercial real estate didn't see an end in sight! Then March arrived and we entered a whole new world. I can actually remember thinking "I might never do another deal this year!" Thankfully, I was wrong.

As reflected in the most recent SIOR Snapshot Sentiment Survey, the second quarter of 2020 has been an interesting ride in the office and industrial world. SIOR office brokers' confidence trails that of their industrial counterparts, likely because there have been more answers than questions in the industrial sector, versus the opposite on the office side. Frankly, as of this writing, we won't have definitive answers to may of the office questions for some time. Office occupiers are still trying to determine their next move, and in may cases, are still telling employees to stay home until they figure it all out. In fact, we are hearing more and more about companies not planning on determining "return to the office" dates until at least Labor Day. Unfortunately, this will delay any definitive revelations on the COVID-19 crisis' long-term impact on the office market.  So for now, we need to continue to contemplate: will we need more space due to social distancing, or less because everyone is still working from home?

By far, the industrial sector continues to be the most resilient area of commercial real estate. There has not been a single SIOR or non-SIOR webinar, podcast, Open Forum post etc. that has given any hint of a slowing of e-commerce and omnichannel related space consumption. Demand for large and small distribution centers, last-mile warehousing, cooler and freezer facilities, and reshoring and inventory stockpiling are all trending up. In fact, incredibly, there appears to be even more demand today than there was before the COVID-19 crisis began! Institutional quality rates in most markets continue to rise. In many cases, industrial vacancy rates are dropping or, at worst, remaining flat. Of course, we all know there is more to the industrial sector than e-commerce and there have been some specific areas of retraction in a number of markets that have been negatively impacted because of the unique industries in their region. Commercial aerospace, hospitality and tourism, gas, oil and automotive industries have all been hit hard. But overall, the industrial market remains very strong.

Fueled by robust industrial demand, the recent SIOR Snapshot Sentiment Survey showed a slight increase in overall commercial real estate confidence. We believe this uptick in confidence is partially due to SIOR's member's increased visibility into their client's future, a clearer understanding of COVID-19's affect on the economy, and a better understanding of how the crisis has impacted their own business, both short and long term. As noted in the survey, the progress of transactions (industrial and office) was comparable to historical norms. That said, office broker's opinions of the coming six months remain negative and we believe this will continue until companies decide their next move.

The markets remain fluid, as does the news, which remains unpredictable. But the news cycle is beginning to slow, giving SIOR brokers more insight into the future. Forecasting the next two weeks used to be nearly impossible, but that's no longer the case. Now, it's reasonable to predict the next quarter or two. And those two quarters will be crucial as we begin to uncover the real effects of the crisis on small to medium sized companies and the commensurate effect on the office and industrial markets moving forward...."



Below are the Quarterly Office and Industrial Reports for our Greater Milwaukee Area:


Alpha Insulation & Waterproofing Has Moved

The owners of 1701 Pearl Street in Waukesha hired Mark Gorski with Judson & Associates, s.c. to find a new tenant for its largest space that was becoming vacant.  With just 1 month overlapping vacancy the 11,758SF space was leased to Alpha Insulation & Waterproofing, a subsidiary of Installed Biding Products (NYSE IBP).  Congratulations to all involved!

Mander Collision and Glass Expands to Hartland

Mander Collision and Glass continues to expand!  Matt Judson had the pleasure of assisting Mander Collision on their purchase of their 3rd location within Waukesha County.  They are a family business who's reputation fully encompasses their motto of "Family helping family."  Visit Mander Collision and Glass at their newly painted and beautiful location at 705 Cardinal Lane in Hartland.

New Headquarters for ALPS

Assisted Living Pharmacy Service (ALPS) will be moving into their new corporate headquarters at W133 N5138 Campbell Dr, Menomonee Falls.  They have kept their eye on the market for almost 10 years waiting for the perfect fit.  Matt Judson has worked along side ALPS for the past 4 years searching for their new home.  Mission accomplished!  ALPS has found the perfect property to fit their needs.  Their new HQ will have new state of the art technology to better serve their needs.  Congratulations ALPS on your recent acquisition and future business growth.

 Elite Collision in Oconomowoc

Cole Russell from Judson and Associates, s.c. was the right person for the job when it came to assisting both sides of a transaction, leading to Elite Collision Repair calling 156 N Thompson St in the heart of Oconomowoc home.  Elite Collision will enjoy their new home along the banks of Fowler Lake.  Congratulations!

Finding a Diamond in the Rough

Matt Judson was tasked with finding a building for Specialty Machine Products, Inc. Over countless phone calls Matt was able to find an owner of a similar business that was willing to sell.  Over time Matt was able to create a great relationship with both Buyer and Seller and a deal was made. Specialty Machine Products will increase their capacity with the purchase of S84 W18759 Enterprise Drive in Muskego.  Congratulations to both the Buyer and Seller!!

Pewaukee Welcomes GT Hydraulic Specialists

GT Hydraulic Specialists is a successful on site expert specializing in fluid power solutions, on site hydraulic repair and preventative maintenance programs for industrial and marine hydraulic systems. With the assistance of Cole Russell and Matt Judson they were able to sign a long term lease at W229 N2510 Duplainville Road in Pewaukee.  Contact GT Hydraulic Specialists for your future hydraulic needs!

Strong Relationships, Repeat Clients

We are happy to announce that SCI Investments has recently sold their manufacturing plant at 540 Progress Drive in Hartland.  Mike Judson had the pleasure of working with the owner, John, when he purchased the plant back in 2006.  John recently sold his successful millwork business and it was a true honor that he called us to assist him again, this time by selling the property.  

ProHealth Care: New Urgent Care Facility

ProHealth Care will be opening a new urgent care facility off of the busy Capitol Drive corridor in Pewaukee in fall 2020.  Their model is to bring health care closer to the people.  Lori Hake of Judson and Associates, s.c. is proud to have been able to represent ProHealth Care secure their leased space.

Fab Tech in Waukesha

Fab Tech Waste Water Solutions LLC has found a new home at 407 Pilot Ct in Waukesha with the help of Matt Judson. This space will allow for some room for future growth and a more efficient layout than their current facility. After much unsuccessful searching this 3,230 SF space was an immediate winner.

Property Aide, LLC

Property Aide, LLC, an up and coming busy remodeler has moved his business to a larger space at W220 N1560 Jericho Ct, Unit 8 in Pewaukee. Contact Jason with Property Aide LLC for your next remodeling project or handyman needs! Our Judson team members, Will Schlosser and Mark Gorski, were able to assist the Landlord and Tenant in executing a successful Lease.  


821 Corporate Ct, Waukesha

100% Leased NN Single Tenant Investment Property

20,600 SF Industrial Building on 2.15 Acres

High Profile Business Park

Sale Price: $1,600,000

739 S Main Street, Jefferson

13,780 SF Industrial building 3.356 Acres

Cranes and airlines throughout

Large fenced-in outdoor storage

Lease Rate: $4,500/Month NNN

12665 W Townsend Street, Brookfield

2 Buildings on 1 Parcel, Total 15,020 SF

8,300 SF Available

Minutes from I-41/45

Sale Price: $1,025,000                                    Lease Rate: $3,900/Month NNN

W1223 Linden Road, Ixonia

Currently 13,800 SF building on 3.414 Acres

Own will build to suit up to 12,600 SF, making the total available 26,400 SF

Lease Rate: $4.50-$7.75 PSF NNN

W228 S7055 Enterprise Dr, Vernon

13,133 SF Industrial Building on 1.51 Acres

Space Available: 6,400 SF (possible to add an additional 6,008 SF)

Sale Price: $935,000                                    Lease Rate: $2,700/Month NNN

W226 N825 Eastmound Dr, Pewaukee

3,750 SF Available

1 Dock Door

Clear Height 16'

Lease Rate: $2,200/Month NNN

W136 N5283 Campbell, Menomonee Falls

17,500 SF Single User or Multi-Tenant Building

1 Dock Door / 1 Drive In Door

Sale Price: $1,175,000                                          Lease Rate: $4.50-$9.50 PSF NNN

700 & 740 Pilgrim Parkway, Elm Grove

Office Suites Available

Various sizes from 668 SF to 3,058 SF

1 minute from Brookfield Square Mall

Lease Rate: $18.00 PSF Gross









































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