As COVID-19 continues to negatively impact the US economy, the retail impact of coronavirus is in the spotlight. Commercial landlords are concerned about how best to support retail tenants. Shopping outlets and restaurants are left wondering if they can meet rent obligations as unemployment spikes and consumer spending tightens. Just as the US revved up […]
Is Your Commercial Real Estate Advisor an Expert?
You’ll pay the same commission to a commercial real estate advisor regardless of their experience or education. National endorsements make a difference in the quality of your advisor- and the speed and integrity of your transaction. Decoding the Alphabet Soup The CCIM and SIOR endorsements are industry standards to show education, experience and expertise in […]
Meet Nick Chaussee
Like most Montanans, Nick Chaussee has a few irons in the fire. In addition to being a full time broker with Sterling Commercial Real Estate (CRE) Advisors, he’s also studying for the CCIM designation and co-owns a metal fabrication company. (Not sure how to pronounce Chaussee? Just think show-say). Initially on track for a Finance […]
Missoula’s Apartment Market Research
Missoula’s apartment market waged a solid performance in the second quarter of 2020. What’s the upshot? Limited New Apartments In the first half of 2020, 82 units have delivered. An additional 90 are under construction. Missoula’s apartment market is on pace to see a 35% decrease in deliveries over 2019. Vacancy Rate Stable The second […]
Childcare in Missoula: Work Perk?
Hyped as a premium benefit for parents, on-site childcare seems to be the wave of the future. Missoula’s Childcare Problem With kids ranging from just a fews weeks old to teenagers, the Sterling team is very familiar with the challenges of securing childcare. We know about Missoula’s lack of childcare availability. Gaps in childcare across […]
Missoula’s Industrial Real Estate Market Update
Interested in the latest research on Missoula’s Industrial Real Estate Market? Market Activity Missoula’s industrial market has been active with transactions throughout 2019. A lull in Q1 2020 transactional volume was mainly driven by pandemic-related concerns, though that has been true across all asset types. Of all real estate asset types, industrial is expected to […]
Why is Housing Expensive in Missoula? Part 2
Why is housing so expensive in Missoula? Learn more in part 2 of Sterling CRE’s series on affordable housing. We’re answering questions like, what factors drive up housing prices? Matt digs into local data to show the trends guiding Missoula’s housing availability. Matt covers limited land, high building costs for developers, materials, and other factors […]
Is the Office Dead? Why Work From Home Won’t Replace Traditional Office Space (For Now)
Changes are coming to your office in the wake of the pandemic. The crisis sent thousands home to work from ad hoc offices at kitchen tables. Work from home (WFH) arrangements ramped up quickly around Missoula and across the state. As the economy reopens, office space is likely to get a safety makeover. Some advocates […]
Medical Office Building Dev. Site Just Sold!
Sterling CRE Advisors represented the buyer in the purchase of 1930 West Broadway. Once a used car lot, 1930 West Broadway will house a gastroenterology specialist. The existing buildings will be demolished and replaced with a modern medical office building. Wait times to see a gastroenterology specialist in Missoula can be up to six months. […]
What the TIF?
You’ve probably heard the term “TIF” in the news, usually related to new projects in a sometimes rundown part of town. Generally, TIF (Tax Increment Financing) funds are supposed to boost economic development. Many cities across Montana have TIF districts, including Missoula, Bozeman, Helena, and Kalispell. Though complex, TIF can be a useful lever for […]