2020 Q1 – Market Update
2020 is off to a great start in Gallatin County and the City of Bozeman
Q1 Recap of Sales/Leasing Activity
With a total of 23 commercial real estate sales in Bozeman, Belgrade, Four Corners, Manhattan, and the greater Gallatin Valley in the office, retail, industrial, land, and multifamily asset classes, according to the Big Sky Country MLS, we are seeing a lot of activity.
There have been 25 commercial properties leased so far in the office, retail, and industrial / warehouse asset classes.
We are seeing a trend in office and multifamily vacancy rates drop and Cap Rates remain competitive.
Industrial properties in the City of Bozeman remain very limited; however, there is warehouse space available for sale and for lease in the Four Corners area.
The highest sales price for a property listed was the former Glacier Bank located at 4150 Valley Commons Drive, just outside the City of Bozeman. It sold for $4.7 Million. This is a 16,008 square foot office building with a drive-through that sold at $294 per square foot. It was listed on the market for 318 days prior to the property being sold.
Looking Towards the Future
Our market continues to be in a period of growth and expansion as many large projects are currently under construction.
Interest Rates are at a historic low, and the cost of capital is lower than ever before. This is a great time to acquire commercial real estate in Bozeman, Belgrade, and Four Corners and Manhattan using bank financing as additional leverage can lead to larger returns.
Contact me to discuss acquiring commercial real estate in Bozeman, Belgrade, Four Corners Manhattan, and the greater Gallatin County.
Market Area: Gallatin Valley, Bozeman, Belgrade, Four Corners, and Manhattan
Industry: Commercial Real Estate – Office, Retail, Industrial, Land, and Multifamily
Type of Offering: For Sale and For Lease