Posts tagged Kohl’s
Executive Vice President for NAI Global, David Blanchard, visited Bozeman last week to present the 5th NAI Roadshow to NAI Brokers from Billings, Missoula, Bozeman and Idaho Falls. The two day event highlighted the many tools to assist members in delivering high quality real estate services to their clients that are available through NAI Global with an emphasis on cutting-edge tools, market strategies, mobile applications and technology. One of the highlights of the event was the presentation of Real Analytics a proprietary retail and food services site analysis tool that takes a lot of the risk and uncertainty out of the site selection process.
C-III Capital Partners recently acquired NAI Global, read more here. C-III Capital Partners is a full service real estate and real estate securities investment and management firm. It is among the largest and best financed private firms of its kind in the US. C-III has raised in excess of $500 million in new capital last year alone and owns institutional asset management firm managing a $150 billion asset base, through ownership interests in 100+ CMBS trusts.
With the new Gallatin Field Airport expansion, Kohl’s building completion off College Street and hiring boom along with the new Safeway grocery store going in at 19th and Main Street not to mention Right Now Technologies local expansion, the buzz around town is that Bozeman’s still growing. But the buck doesn’t stop there, there’s a lot going on in Bozeman.
Here’s a few of the stories that might interest you:
- Gallatin Field Airport expansion opens to praise, but a few miss flights
- Kohl’s bringing more than 100 jobs to Bozeman, holding job fair next week
- RightNow Technologies gets national attention, plans to expand locally
- RightNow announces quarterly earnings are higher than expected
- Bozeman to consider new Safeway grocery
- Safeway webcam tracks sntore under construction
Summertime in Southwest Montana can rarely be beat with festivals, art and music everywhere. Most of us take enjoying this short season very seriously. But another aspect of this window of opportunity is for the construction trade. While the building industry certainly operates year round, much will be accomplished and completed during the upcoming summer season. This month’s article features several of the large projects that are being constructed in and around Bozeman in order to highlight the growth and variety that is taking place in the commercial market. Though many of you have most likely read about these ventures individually, seeing their impact when combined is truly an indicator of the forces in the Bozeman public and private business sectors. Information has been obtained from the City of Bozeman’s website for building permit information along with many other sources. Although I have attempted to include most of “what’s new”, this is by no means an all-inclusive list.
Safeway, a staple on West Main Street since 1968, will be moving to a new location slated to open in the fall of 2011 at the northeast corner of North 19th Avenue and West Main Street. The store will contain 57,870 square feet of groceries, indoor/outdoor seating, and Bozeman’s first official Starbucks. It will also be the first LEED certified Safeway outside of the Seattle area. Estimates are that the employees will more than double. The building permit valuation is $5,413,445 with the completed project estimated at $12 million.
Bozeman Deaconess Hospital recently began its emergency room expansion which will add 17,300 square feet and the ability to serve 37,500 patients each year, compared to the current design which serves 15,000 patients per year. The current 10 bed facility will increase to 25 larger, state of the art rooms. The project is anticipated to take 18 months at a budget of $15 million.
At Montana State University, a $52 million campus renovation and construction project that started in 2009 was recently completed with the addition of the new Animal Bioscience Building, a 40,000 square foot, three story building which is home to the Animal and Range Sciences Department of the College of Agriculture. Daily progress is occurring at the intersection of 11th and College with the new “round-about” and at 11th and Kagy where the MSU football stadium renovation is well underway. The MSU Foundation states “The $10 million Bobcat Stadium End Zone Project will feature a new grandstand wrapping around the south end zone and adding 5,200 seats, taking the stadium’s capacity above 17,000.” The project is expected to be completed by the first home football game of the 2011 on September 10. Go Cats!
The west corridor of Bozeman has a flurry of activity starting with the construction of Kohl’s Department store. Their building permit was issued in March, 2011 for a 55,443 square foot building valued at $5,652,968. The store is at the northwest corner of Technology Boulevard and South 29th in the Bozeman Gateway Shopping Center across the street from the Gallatin Valley Mall.
Further west, on Cottonwood and Fallon, Billion Auto Group is building the Nissan Dealership opening this summer and additionally the Chrysler and GM Dealerships in summer of 2012. All situated on 38 acres on Automotive Avenue, the Nissan building is 9,569 square feet and valued at $1,020,630. The two additional dealerships are 59,423 square feet each with values of $3,749,994 per building.
Also on Cottonwood Road is the new Petra Academy, a private K-12 school that is constructing a facility which will encompass 46,132 square feet with a permit value of $7,067,422. The academic wing is anticipated to be complete by September with the gym and performing arts center to follow. Alpine Orthopedics is also building a new 10,768 square foot facility on Cottonwood Road which is estimated to be $3.8 million.
Looking at downtown building activity, we find the Bozeman Community Food Co-op recently opened its new 5,000 square foot market and deli in the old Western Drug Building. The F & H Building is nearing completion on East Main Street on the site that was destroyed in the March 2009 downtown explosion. Construction has been underway for the past year, with an issued permit for 26,691 square feet, valued at $3,914,605. Once completed, this mixed use building will house the Rockin’ R Bar, Sideline Grill, and Santa Fe Reds among other businesses. The R Bar and Sideline Grill are on schedule to open by July 26th, and Santa Fe Reds will follow mid-September. And, just across the street, First Security Bank completed a major exterior and interior renovation including a new drive-up facility.
Scheduled for completion in August is the $40 million expansion at Gallatin Field Airport which began in summer of 2009. The terminal increased from 75,000 square feet to 200,000 square feet. The new facility will have eights gates, doubling the existing airplane capacity. The first new gate began operating on June 7, with the opening of the entire new terminal, including ticket counters, shops, and security, scheduled for late July. Gallatin Field served a record 365,000 passengers in 2010.
Recently completed bond issue projects include the $36 million Bozeman High School reconstruction which included about 150,000 square feet of renovated space and 61,000 square feet of new construction. And, the $33.7 million Gallatin County Detention Center opened in April with the new facility weighing in at 86,508 square feet with the capacity to hold 160 inmates.
Most obviously, these building projects create current jobs and put construction industry workers back to work now. Many of the new ventures are using local general and sub-contractors, which further augments revenue into our community. The MSU Foundation estimated that the stadium alone will provide over 200 jobs through the course of the construction. Additionally, many of the described businesses will be adding new permanent jobs to our local economy. Safeway’s expansion, for instance, calls to increase the employee base by 60 to 70 people. Enjoy summer 2011 and revel in the sights and sounds of new construction.Published by Bozeman Daily Chronicle for Business to Business; written by Robyn Erlenbush, Principal, NAI Landmark Bozeman, Montana