In a demonstration of strategic acumen and market insight, Casey Rose, CCIM of Sterling Commercial Real Estate Advisors, orchestrated a complex series of transactions that exemplify the advantage of working with an informed brokerage in Montana’s dynamic commercial real estate environment.
Project Size
±9,232 SF warehouse
±2 Acres
Closing Date
Feb. 2024
Exclusive Landlord Representation by Casey Rose, CCIM | SIOR
The Opportunity
In May 2022, Casey was approached by Lance Ross of Right On Builders and owner of the property at 567 Jetway Drive in Belgrade, Montana, a ± 9,232 SF warehouse on 2 acres. Lance expressed that his current facility was becoming inadequate for his expanding operations. Recognizing the potential for both leasing the existing property and finding a new solution for Lance, Casey maintained a close relationship over the next 18 months.
The Approach
In January 2024, when Lance was ready to relocate, Casey quickly secured a high-value tenant for 567 Jetway. A growing solar company across the US, represented by another brokerage, committed to a lease that was exceptionally profitable in the current market. The pressing need for Lance to relocate before the new tenant’s move-in date set the stage for Casey’s next strategic move.
With nothing suitable on the market, Casey initiated a comprehensive search by leveraging his extensive network and conducting over 50 cold calls. His perseverance paid off when he identified an ideal replacement property at 123 Magpie Lane—an ± 8-acre tract unzoned and with no covenants, featuring a double-wide, a single-wide, and a barn, perfectly meeting Lance’s criteria.
The Outcome
In March 2024, Lance wrote a cash offer for 123 Magpie Lane, which was swiftly accepted. During due diligence, Casey capitalized on another opportunity. An unrepresented landscaping company was in search of a location that coincidentally aligned with the southern portion of Lance’s new property. A lease agreement was promptly signed, further optimizing Lance’s investment.
123 Magpie Lane | Bozeman, Montana
Off Market Deal
Project Size
±5 acres
Land
Closing Date
April 2024
Exclusive Buyer Representation by Casey Rose, CCIM | SIOR
The Results
Within just three months, Casey facilitated for his client:
Financial Upsides:
- The client secured a highly advantageous lease agreement for the original property, ensuring a robust income stream that significantly exceeds typical market returns. This lease not only solidified the financial stability of the client’s portfolio but also positioned him favorably for future business endeavors.
- By swiftly acquiring and partially leasing out the new property, the client was able to immediately generate substantial additional revenue. This move effectively diversified and enhanced the client’s asset base, further boosting the overall financial health and potential of his investment portfolio.
Strategic Gains:
- The transactions allowed the client to strategically relocate to a facility that better suits the expanding needs of his business, ensuring that operational capabilities could scale without interruption.
- The new property offers greater flexibility and potential for future development, which are critical for adapting to evolving market conditions and opportunities.
Insights
This sequence of transactions highlights the effectiveness of proactive market engagement and the importance of a well-connected advisor. Casey’s forward-thinking approach and dedication to client success transformed potential challenges into lucrative opportunities, reaffirming SterlingCRE Advisors’ leadership in Montana’s commercial real estate market.
Through this venture, Casey Rose, CCIM not only demonstrated his capability to navigate complex scenarios but also solidified his reputation as a determined and insightful commercial real estate advisor committed to achieving optimal outcomes for his clients.
Contact Casey at 406.414.7507 or Casey.Rose@SterlingCREadvisors.com.
