Montana

Walgreens_Missoula-Mont

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

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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Sierra storefront

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

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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Gallatin-Crossing-Bozeman-Mont

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

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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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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2618 Kings Ave

Billings, Mont. — Wood Investments Cos. has purchased a vacant retail building situated on 5.19 acres at 2618 King Ave. West in Billings. Wilson-Taylor Partnership sold the property for $4.6 million. Formerly occupied by Big Bear Sports Center, the building features 67,000 square feet of retail space. By the close of escrow, Wood Investments had secured leases with HomeGoods, Sierra Trading Post and Petco to occupy the multi-tenant building. Wood Investments will redevelop the building to comply with tenant specifications, as well as implement capital improvements and upgrades to the …

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Bozeman, Mont. — Newmark Knight Frank has arranged the sale of Gallatin Center, a shopping center in Bozeman. Revesco (USA) Properties acquired the property from Gallatin TR for $27.5 million. Paul Sleeth, Billy Sleeth and Patrick Allen of Newmark Knight Frank represented the seller in the transaction. Situated on the southwest quadrant of Interstate 90 and North 19th Street, Gallatin Center is occupied by Ross Dress for Less, Michaels, Bed Bath & Beyond, PetSmart and Staples.

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Great Falls, Mont. — SSG Realty Partners has arranged the sale of Westwood Plaza, a retail center located along the Northwest Bypass in Great Falls, Montana, for an undisclosed price. Originally developed as a Pay ‘N Save and Ernst Home Center, the 70,000-square-foot shopping center was renovated in recent years. The current tenant mix includes Ulta Beauty and T.J. Maxx. Greg Swedelson and Jon Eric Greene of SSG Realty Partners represented the seller and undisclosed buyer in the deal.

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