Missoula, MT—Sterling Commercial Real Estate Advisors hosted its annual MarketWatch event on Wednesday, March 6th, at the Florence Building in downtown Missoula. The event attracted over 120 participants, including business leaders and community stakeholders, who gathered to discuss the latest trends in Missoula’s commercial real estate market.
The research department at SterlingCRE, led by Data Analyst Sara Townsley, collects data on commercial real estate markets throughout Montana, focusing on Missoula and Bozeman. This effort includes tracking national trends and integrating them into its comprehensive analysis. SterlingCRE’s periodic newsletters inform stakeholders of current market conditions. The annual MarketWatch events in Missoula and Bozeman are pivotal for business owners, industry professionals, investors, developers, and capital deployers in these vital Montana markets. “Commercial space in Missoula is incredibly tight right now, with no real relief in sight”, Townsley shared.
Connor McMahon, a Commercial Real Estate Advisor with SterlingCRE, covered Missoula’s office market. He noted low vacancy and stable lease rates, contrasting these with the broader national concerns and identifying local investment opportunities. McMahon’s discussion on the retail sector highlighted increasing consumer debt versus the ongoing national trend of rising spending, illustrating the sector’s resilience and capacity to adapt.
Claire Matten, CCIM/SIOR, addressed Missoula’s industrial real estate market, pointing out investment challenges and profitability due to continuous demand and existing infrastructure constraints.
The analysis included observations on the pace of retail and industrial development in Missoula, noting that although construction is ongoing, many projects are pre-leased or sold. This suggests businesses looking to expand or enter the market should anticipate a longer timeline to secure suitable spaces.
Matt Mellott, CCIM/SIOR, brought attention to the growing need for land for housing in Missoula. Projections indicate 8,000 new units will be required by 2040 to support the population growth. He highlighted the North Missoula, Swyptqen and Wye areas as those most likely to be able to support the scale of growth needed over the coming two decades. Mellott also discussed how jobs drive real estate development and the importance of investment into both commercial and residential projects to support sustainable growth in Missoula.
SterlingCRE Advisors’ MarketWatch event offered a detailed overview of the current and future state of Missoula’s commercial real estate market, highlighting opportunities for growth and investment.
“By presenting this data, we aim to empower each participant with the knowledge and insights needed to navigate the complexities of the commercial real estate landscape,” stated Matt Mellott. “Our goal is to foster a community of informed stakeholders who can contribute to Missoula’s sustainable growth and prosperity.”
Proceeds from event registrations were donated to the Montana Food Bank Network, reflecting SterlingCRE’s commitment to supporting the community.
SterlingCRE thanks all attendees, speakers, and supporters for making the MarketWatch event successful.
