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FinanceMontanaNews

Wood Investments Cos. Secures $20.3 Million Refinancing for Shopping Center in Helena, Montana

by Hayden Spiess

Helena, Mont. — Wood Investments Cos. has secured a $20.3 million permanent loan for the refinancing of Helena Skyway Regional Shopping Center in Helena. Wells Fargo provided the financing. Tenants at the property, which totals 164,121 square feet, include T.J. Maxx, Ulta Beauty and Hobby Lobby. Sierra and Chick-fil-A also recently signed leases at the center and are scheduled to open this November and at the end of 2025, respectively. Wood Investments acquired the property, which is now fully leased, in September 2022. 

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Investment salesMontanaNews

SSG Realty Partners, Hanley Arrange Sale of 69,909-Square-Foot Shopping Center in Great Falls, Montana

by Hayden Spiess

Great Falls, Mont. — SSG Realty Partners and Hanley Investment Group Real Estate Advisors have arranged the sale of Westwood Plaza, a 69,909-square-foot shopping center located in Great Falls. T.J. Maxx, Staples, Dollar Tree, Ulta Beauty and Mattress Firm anchor the property, which was fully leased at the time of sale. Greg Swedelson and Jon-Eric Greene of SSG and Bill Asher and Beau Velten of Hanley represented the seller, a Michigan-based private investor, in the transaction. Westwood Plaza was originally built in 2017. 

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DevelopmentGrocery-anchoredMixed-useMontanaNews

Venture West Development Underway on 196-Acre Mixed-Use Project Near Bozeman, Montana

by Hayden Spiess

Belgrade, Mont. — Venture West Development is underway on Jackrabbit Crossing, a 196-acre mixed-use project in Belgrade, roughly 11 miles outside Bozeman. Rosauers Supermarkets, which recently signed a long-term lease, will anchor the property. Plans for the development, which is located three miles from the Bozeman Yellowstone International Airport, also include a proposed 53,000-square-foot Amazon distribution center. 

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Investment salesMontanaNews

Benderson Acquires Walgreens Property in Montana

by Hayden Spiess

Missoula, Mont. — Benderson Development has acquired a freestanding single-tenant property located in Missoula, marking the company’s first entrance into the Montana market. Walgreens occupies the building. Benderson’s portfolio currently includes more than 55 million square feet across more than 1,000 properties in 40 states. 

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Hardee's
AlabamaCaliforniaCompany newsFloridaGeorgiaInvestment salesKansasMissouriMontanaNewsRestaurantsSouth CarolinaWyoming

High Bluff Capital to Acquire 81-Restaurant Hardee’s Portfolio

by Hayden Spiess

San Diego — High Bluff Capital Partners will assume ownership of a portfolio comprising 81 Hardee’s locations following an auction. Located in Alabama, Florida, Georgia, Kansas, Missouri, Montana, South Carolina and Wyoming, the restaurants were previously owned by franchisee Summit Restaurant Group, which filed for Chapter 11 bankruptcy in May of this year. The transaction is expected to close in August. Dave Dixon will oversee operation of the restaurants. “High Bluff is the ideal partner to support our efforts…while making critical investments in restaurant remodels and other initiatives to boost traffic …

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LeasingMontanaNews

Sierra Opens 18,700-Square-Foot Store in Billings, Montana

by Hayden Spiess

Billings, Mt. — Sierra, a T.J. Maxx brand, has opened an 18,700-square-foot store in Billings. Founded in 1986, Sierra offers active and outdoor apparel, footwear and gear. Situated within a building formerly home to Big Bear Sports Center and redeveloped by Wood Investments Cos. as Yellowstone Gateway Shopping Center, the store marks the first location in the state. Sierra joins HomeGoods at the site, and Petco is also scheduled to open a 15,000-square-foot location at the property.

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Arbys
Investment salesIowaMontanaNebraskaNet leaseNewsNorth DakotaWisconsin

Marcus & Millichap Brokers $35.1 Million Sale of Midwest Arby’s Portfolio

by Katie Sloan

Iowa, Montana, North Dakota, Nebraska and Wisconsin — Marcus & Millichap has brokered the sale of a 22-property portfolio occupied by Arby’s in the Midwest for $35.1 million. The net-leased assets are located in Iowa, Montana, North Dakota, Nebraska and Wisconsin. Drew Isaac and Brian Bailey of Marcus & Millichap represented the seller, an Arby’s franchisee. As part of the sale, new leases were executed for the properties. The buyer was undisclosed.

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DevelopmentGrocery-anchoredMontanaNews

Shopping Center in Bozeman Undergoes $50 Million Redevelopment, Signs Montana’s First Whole Foods Market

by Hayden Spiess

Bozeman, Mont. — Gallatin Valley Mall, a retail center located in Bozeman, is currently undergoing a multi-phase, $50 million redevelopment. To be known as Gallatin Crossing, the property will be mixed-use and feature retail, entertainment and medical space. The latter will include a 45,000-square-foot Medical Pavilion that brings together Intermountain Healthcare and Ortho Montana PSC. Whole Foods Market will also join the property with a location that marks its first in the state. The first phase of development for the project, which began in September 2022, is scheduled for completion …

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Citivest
Investment salesMontanaNews

Citivest Commercial, Sage Investco Acquire 116,992-Square-Foot Retail Property in Helena, Montana

by Julia Sanders

Helena, Mont. — Citivest Commercial Investments and Sage Investco have purchased a former department store building in Helena for an undisclosed price. The 116,992-square-foot property also includes two pad development opportunities, with one ground finalized and another in negotiations. Shopko formerly occupied the building, which is situated within a larger center anchored by Albertsons, Target, JoAnn Fabric and Crafts and Ross Dress for Less. The buyers plan to implement a renovation program, which will include updating paint colors, landscaping and signage to maximize the center’s value. The name of the …

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Investment salesMontanaNews

Lee & Associates Brokers Sale of 145,637-Square-Foot Shopping Center in Billings, Montana

by Julia Sanders

Billings, Mont. — Lee & Associates has arranged the sale West Park Promenade, a retail center in Billings. A Ketchum, Idaho-based private investor sold the property to a Bellevue, Washington-based 1031 exchange investor for an undisclosed price. Jan Finchman and Shane Jimenez of Lee & Associates represented the seller in the deal. A new Town & Country Foods anchors the 145,637-square-foot retail center, which is situated on 12 acres. The asset recently underwent a $13 million renovation to transform from a mall to a community shopping center. Other current tenants …

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