Missoula Office Data Market Minute | 2023
https://youtu.be/TKp_RNY35-0 SterlingCRE provides an overview of the commercial real estate market in Missoula. The city continues to face low vacancy rates in office and retail spaces, leading to limited supply amidst growing demand. Construction activity has slowed due to market uncertainty, elevated costs, and restricted lending, resulting in a contraction of new projects. The multifamily […]
What’s That, Missoula?
https://youtu.be/vB9fxnEQHhE SterlingCRE Advisors discuss what’s happening in Missoula commercial development in spring 2023. A former Taco Johns on West Broadway in Missoula will become a dispensary, offering a picturesque view and the potential for increased foot traffic as the area develops. Smitty’s Car Wash is also set to open on Reserve Street, and a new […]
Missoula Industrial 2023 | Big Metal Box Updates
https://youtu.be/wrdr2krfwv4 Claire Matten, CCIM/SIOR, with SterlingCRE discusses the dynamic industrial real estate market of 2022, where strong demand, declining vacancy rates, and soaring lease rates took center stage. From Missoula County to Montana at large, the industry witnessed a shift towards land purchases due to limited available properties. E-commerce’s exponential growth and the rise of […]
Pro/Con: Missoula Short-Term Rentals
Missed Missoula MarketWatch? The upshot is that Missoula’s commercial real estate sector is still active, with interest on both the sale and lease sides – but, there are challenges ahead for every asset type. Missoula’s commercial real estate market faces low vacancy rates, with a limited supply of office, retail, and industrial spaces to meet growing […]
Top Tips for a Great Commercial Tenant/Landlord Relationship
Lana Miller, Sterling Commercial Management Property Manager A good tenant in a commercial space is worth their weight in gold. To ensure a positive landlord-tenant relationship, here are a few tips. Communication is key. It’s important to set expectations for how work orders will be submitted, received, and responded to. Get everything in writing. No oral leases are […]
The Agony of Default
As economic conditions deteriorate and rate hikes start impacting the bottom line for many businesses, lease default becomes a very real fear for landlords and tenants. Whether you’re a tenant or a landlord, finding a solution becomes imperative when a default is looming – or has already occurred. The most important thing in any default […]
Receiverships Offer Flexibility when Foreclosure Looms
You might have heard the term “receivership” when it comes to a commercial real estate asset that is in financial trouble. But what is a “receiver?” How does that work? A receivership is a possible alternative to a CRE foreclosure or default. The receiver is a court-appointed agent who becomes the ad-hoc property manager while the […]
Montana CRE 2023: Expert Projections on What’s Next (and Should You Worry?)
Predictions for Montana CRE in 2023 + Development Notes In 2023, Montana CRE investors, owners, tenants, and developers are seeking answers after a volatile year. As we look ahead, here are trends we predict will shape the commercial real estate market in Montana. Knowing what’s next can help guide smart decisions about your next Montana […]
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. […]
Build to Suit Montana | How Does that Work?
Have you ever noticed that almost every Walgreens or standalone Starbucks looks the same, no matter the location? That’s because these buildings are typically developed through a method known as Build to Suit (BTS). In Montana, the concept of BTS is gaining traction, particularly as more land offerings include it as a key feature. But what exactly is BTS?
