Spec Build Strategy Shifts
Matt Mellott, CCIM/SIOR The Society of Industrial and Office Realtors, a global commercial real estate industry credentialing association, hosted its annual conference in late Fall 2022. Matt Mellott attended, with one looming takeaway with considerable implications for industrial development across Montana and the rest of the country. Industry experts warned that bank financing for speculative […]
Montana Self-Storage Outlook
Claire Matten, CCIM/SIOR Across Montana, self-storage operators continue to see full facilities. In turn, these facilities have been able to increase rents. Tracked markets showed year-over-year rent growth, an essential indicator of strong demand. Contact the SterlingCRE team to get a copy of Montana’s self-storage report with a statewide rent chart. Though rents are going […]
Self-Storage Prices in Montana
How much do self-storage operators charge for a unit in Montana? The answer depends on where you look. As of midyear 2022, a 5×10 non-climate-controlled unit in Missoula runs at $61.91 per month. In Bozeman, that same-size unit is closer to $56 per month. But, no matter where you are, expect prices to continue rising. […]
Montana CRE Markets Shift with Interest Rate Changes
While Montana’s heated CRE and residential markets pause to recalibrate in the wake of rising interest rates, the SterlingCRE Advisors team carefully tracks a key metric for commercial properties: days on market. Comparable properties trading even in the last three months might not set accurate expectations when it comes to the time it will take […]
Howdy, Neighbor: Neighborhood Retail Makes a Comeback
For Montana developers, cultivating the right mix of neighborhood retail is an art and science. Successful neighborhood retail operations like The Trough in Missoula or the Black Dog Coffee House in the Roots Garden Center in Billings nurture a sense of community and create walkable amenities. That’s good for local residents, helps encourage a safe […]
Leasing Space 101 for Nonprofit Orgs
After working with several not-for-profit clients, SterlingCRE advisors recognized that nonprofit organizations (NPO) had unique hurdles in securing commercial space. At Gather: the Montana Nonprofit Association 2022 Annual Conference, SterlingCRE advisor Kara Hogan and Director of Marketing Sarah Knobel addressed a major question. More than ever, NPO clients are asking: do we even need an […]
What’s a…Sale/Leaseback?
Ready to cash in on the market’s favorable pricing – but concerned you won’t be able to find a new space for your business if you do? Or are you simply looking for extra funds to expand your operations? A sale/leaseback can allow you to sell your building while maintaining operating space for your business. […]
Montana Development Update, Summer 2022
https://www.youtube.com/watch?v=vOuYx_oibHY Hey, What’s That Montana? Tourists are trying to pet the fluffy cows, road construction is in full swing, and the temps just keep on rising – it’s officially summer in Montana. Stay tuned for more with advisors Connor McMahon and Kara Hogan. Sure is, and there is plenty of new development around the state. First, […]
Single-Family-Rentals in Build-to-Rent Communities: Coming Soon to Montana?
For Montana families, buying a home is an uphill battle. But, they still need the space: for growing kids, work-from-home setups, care arrangements for elderly relatives, or more room for outdoor recreation vehicles. One alternative to traditional home ownership has emerged: build-to-rent communities of single-family-rentals (SFRs). These SFR communities feature traditional houses managed by a […]
National Brands Seek to Expand in Montana
Connor McMahon, Montana retail specialist, traveled to the ICSC national convention in Las Vegas in May 2022. The conference had been canceled for the two prior years. Connor says the demand to expand retail footprints was evident throughout his interactions with developers, other brokers, and retailers. “Attendance was high,” he says. “There was renewed interest […]