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 housing sector shows some relief, but it comes at the expense of available commercial space, potentially creating an imbalance.
The video also explores the impact of remote and hybrid work models on office vacancies, as well as the need for employers and landlords to adapt to changing demands and expectations.
Additionally, it discusses the limited development pipeline for office spaces and offers insights into the current construction situation.