A zipper line. A former used automotive gross sales lot. A historic lodge.
These are simply among the industrial properties which have come up on the market previously few months as the true property growth in and round Columbia Falls continues.
David Girardot, an actual property dealer with Pure West Actual Property, mentioned demand continues to be excessive within the space, with patrons doing what’s generally known as 1031 exchanges from bigger markets.
A 1031 change is an actual property investing software that permits buyers to swap out an funding property for an additional and defer capital good points or losses or capital good points tax that they in any other case must pay on the time of sale. This methodology is well-liked with buyers trying to improve properties with out being charged taxes for the proceeds.
Domestically, a number of notable properties have hit the market.
The Izaak Walton Inn in Essex and Midway Lodge is listed on the market at $17.95 million.
The Inn sits on a 100-acre campus simply outdoors Glacier Nationwide Park off Freeway 2. It’s also a cease for Amtrak and has glorious cross-country snowboarding in addition to entry to the Nice Bear Wilderness. The Midway Lodge is farther east down the highway.
Each properties are privately owned by Brian Kelly.
The Glacier Ziplines can be on the market on U.S. 2 in Columbia Heights.
In contrast to the Inn, it consists of no property, simply the enterprise, the tower and tools, for $449,000, famous Girardot, who’s the dealer on the sale.
The enterprise is operated on state-owned land beneath a lease.
One other notable property is the previous Joe’s Auto Gross sales. The house owners have retired, famous dealer Tim Killen of Keller Williams Actual Property.
It’s listed for $1.62 million and sits on an acre of land.
Girardot does an annual report of economic actual property within the valley. He famous that demand for industrial areas of 15,000 to 25,000 sq. ft has been notably excessive.
“Demand for industrial websites with buildings larger than 20,000 sq. ft continues to exceed the availability. The dwindling variety of gross sales for 2021 is because of an absence of stock of commercial buildings,” he mentioned in his annual report following 2021.
Marijuana companies have spiked demand, as Montana legalized leisure use.
One key measure of demand is the variety of days a property is listed.
In 2020, for instance, retail listings had been available on the market for a median of 201 days. In 2021, 136 days.