Economic growth and evolving local industries drive Missoula’s commercial real estate market. It’s a trend that will continue in the coming year. The key to successful investment lies in understanding economic growth and the changing business landscape.
In 2021, experts predict economic recovery in Missoula. The city enjoyed steady employment and economic growth for the past decade. That is, until the unexpected events of 2020 stymied that prosperity.
Yet, Missoula suffered less drastic employment drops than most cities across the nation. A diverse economic base and ongoing population growth buffered local losses.
Missoula Area Economic Development Success Stories
- Tonix Pharmaceuticals acquires 40+ acres for vaccine production in Hamilton.
- ATG commits to 40,000 square feet of space at the Old Sawmill District.
- NASA-sponsored UNAVCO opens Missoula office.
- Film production facilities spring up in Bonner and Missoula Development Park.
- Big Sky Fulfillment expands operations to 50,000 square feet at Bonner Mill.
The diverse businesses establishing roots in Missoula shape demand for commercial real estate. The hottest assets are stabilized investment offerings (especially apartments), accessible distribution centers, specialized lab spaces, and modern offices.
Employment growth driven by these industries will continue to propel the residential market. In turn, demand is likely to increase for retail space and self storage through 2021.
We’re optimistic about Missoula’s future in this new terrain. Check back for video from the event coming soon.
Download the event brochure for more info or contact a Sterling CRE Advisor at 406-203-4547.
Missoula MarketWatch Brochure 2021
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A Look back at Missoula MarketWatch 2020
On March 11, 2020, Sterling CRE Advisors hosted Missoula Market Watch, an evening full of insights on commercial real estate in Missoula. A lot has changed in the market since that evening due to the COVID-19 pandemic and resultant near economic shutdown. The full impact of the virus on commercial real estate values, vacancies and rents remains to be seen.
Sterling CRE Advisors is hopeful that Missoula’s healthy economy and real estate market will help our community weather the storm and recover quickly. While conditions have changed dramatically, much of the content from the evening is still relevant today.
For those of you looking for something educational to binge watch, the full Missoula Market Watch video can be found on our You Tube channel here.
If you don’t have time to settle in with a beer and popcorn, we have broken the presentations into shorter 5 – 10 minute segments to bring you up to speed on important topics. Check back regularly for new segments.
Jessica Morina- Using Asset Management to Increase Property Value
Jessica Morina, an experienced asset manager walks us through a case study of how she approaches management changes to maximize a property’s value. By taking steps including enforcing lease terms and renegotiating property service expenses, her approach quickly adds value. Jessica manages commercial properties throughout the state of Montana, with properties in Missoula, Bozeman, Kalispell and other cities.
Matt Mellott, CCIM- How Not To Overpay For A Deal
Matt Mellott, CCIM walks us through how he evaluates a multifamily deal before investing. He takes us through the process of evaluating the deal and pro-forma objectively, creating a financing plan and calculates a counter offer. Matt specializes in finding and analyzing apartment deals in Missoula, Kalispell and Bozeman, but his process works in any market.
Claire Matten, CCIM- Why Investors Love Industrial & Warehouse, Even in a Down Economy
In this segment, Claire Matten, CCIM talks about Industrial and Warehouse, and why it is an asset that is always in demand. In this segment she discusses the growth of E-Commerce, changes in distribution systems and key user groups for Industrial space in the future.
Missoula Market Watch 2020 Presenters:
- Claire Matten, CCIM, Sterling CRE Advisors
- Industrial & Retail Markets Trends & Investment Insights
- Matt Mellott, CCIM, Sterling CRE Advisors
- Multifamily & Office Market Trends & Investment Insights
- Jessica Morina, Sterling Commercial Management Group
- Asset vs. Property Management
- Bryce Ward, Founder of ABMJ Consulting
- Missoula’s economy: What’s going on and how can we do better?