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2021 Mid Year Wisconsin lnvestment Market Report

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DJI_0095

The acceleration in real GDP growth in the first half of 2021 reflects the continued economic recovery from the COVID-19 pandemic, which is being reflected in the capital markets.

  • Amazon and strong logistics/e-commerce activity continues to drive absorption and capital markets demand in the industrial sector in Wisconsin
  • Industrial has the highest number of transactions thus far compared to any other asset ($426M in total sales volume in the first two quarters)
  • Net lease sales led the way in retail accounting for well over half of the total sales volume
  • Multifamily remains one of the most sought after asset types with newer class A developments trading for 5.5 percent cap rates
  • Office sector is beginning to show signs of life, and investors are acquiring product to capture yields that aren’t achievable in other asset classes.

DJI_0095

2021 Mid Year Wisconsin lnvestment Market Report

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Related Experts

Tom Shepherd

Partner

Milwaukee

Tom is a Partner at Colliers | Wisconsin and he is the leader and founder of the firm’s Wisconsin Investment Services Team.  Tom has over twenty years of commercial real estate experience, including nineteen with his current firm.  His work focuses on advising institutional and private investors on strategies to maximize their real estate value. He has won numerous industry awards for brokering the disposition and acquisition of some of the highest profile transactions completed in Wisconsin. In both 2016 and 2019 Tom earned Colliers  pretigous Everest Club award, which annually recognizes the top 10% of producers across the Americas.   He has been the top producer in the Wisconsin office from 2015-2020.

In addition to being a company leader, Tom is also a leader in the southeastern Wisconsin business community.  For seven years he served on the board of directors for the Commercial Association of Realtors Wisconsin (CARW), and in 2014 he was elected Chairman of the organization.  He served for many years on the board of directors for the CCIM Wisconsin Chapter and he's involved with two nonprofit NGOs that focus on development in the Third World.  Tom volunteers as a mentor for both the NAIOP Wisconsin Chapter and the Colliers Wisconsin 360 internship program.   Tom’s areas of expertise include investment sales, negotiations, contract review,  buyer and seller representation, ARGUS  valuation analysis, feasibility analysis, and development analysis.

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Adam Connor

Senior Vice President

Milwaukee

Adam Connor serves as Senior Vice President with the Investment Services team.

Adam focuses on th acquisition and disposition of Retail, Single Tenant Net Lease (STNL), and Sale-Leaseback properties throughout Wisconsin and the Midwest.   With over 15  years of experience, Adam represents private, corporate and institutional clients in the disposition and acquisition of investment properties.   The Investment Services team is a six-person team focused on helping and advising their clients on their  real estate strategy.   Since the team's inception they have closed on over $600  million in transactions.

Since 2013 Adam has successfully closed over $185  million in investment properties.  Adam prides himself on providing his clients with first-class service, superior market knowledge and transaction expertise.  

Prior to joining Colliers International, Adam served as a Vice President  and Director of National Retail Group at Marcus & MIllichap.  For six consecutive years he was one of the top producers in the Milwaukee office and achieved national sales achivement award four times.

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Joe Eldredge

Senior Vice President

Milwaukee

Joe has been in Commercial Real Estate for almost 30 years, 12 years of which he has spent at Colliers | Wisconsin. Joe joined Colliers as a broker on the Investment Sales Team in 2008, specializing in Multifamily Investment, Development Land and Adaptive Reuse/Distressed Assets. 

Joe graduated from the University of Minnesota College of Liberal Arts in 1989. Prior to joining Colliers, he began his career selling residential new construction before progressing into land acquisition, entitlement and project management. He then spent several years consulting for lenders and special servicers as they navigated distressed development projects during the Great Recession.

Thanks to his multifaceted skillset and experience within the industry, Joe has earned his Certified Commercial Investment Member (CCIM) designation. This accomplishment further solidifies his industry prowess and aids in his ability to navigate complex transactions. Those that hold the CCIM designation are recognized as leading experts in commercial investment real estate – a merited description considering the service and insight Joe provides to his clients.

With a passion for mentorship and sharing his experience, Joe serves as an Adjunct Professor at the Marquette University Center for Real Estate. Working with both sophomores and juniors, Joe focuses on cultivating interest and understanding of the Commercial Real Estate industry. Additionally, Joe acts as a mentor with the Pewaukee School District’s InSight program. He maintains an advisory role within the program, working to guide and educate the less experienced members.

Joe is also part of the Colliers National Multifamily Practice Group; a collaboration of Multifamily Investment Professional sharing resources and knowledge to better serve their client’s needs. His ability to identify opportunities for his clients and always prioritize their objectives have helped build strong partner-relationships for our firm.

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