The SterlingCRE Advisors team was thrilled to work with Amazon to secure their first Montana facility in Missoula.
We’ve gotten one question a lot. Why wasn’t it announced that this was going to be an Amazon warehouse early on, during the permitting process?
It’s a good question, with a short answer. During permitting, Amazon wasn’t the only business considering leasing space in the warehouse on Cartage Road in Missoula, Montana. The warehouse was a speculative project. That means there were no signed leases with Amazon or any other company during the permitting and planning phases.
And, Amazon wasn’t the only company considering leasing space at the warehouse. There was interest from distributors, manufacturers, marijuana growers, and other businesses. That demonstrated to the SterlingCRE team that demand for industrial space is still high.
With such limited warehousing and distribution space on the market, projects like Cartage Road where Amazon landed, are showing strong lease up before they even break ground.
Ultimately, instead of few tenants leasing individual space at the speculative industrial building in Missoula, Amazon leased the entire facility. If you’re interested in securing industrial space in Montana, contact Claire Matten, CCIM/SIOR at 406-360-3102 for more information.