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HomeMy WebLinkAboutRFP Fire Station 1 - Starner Commercial - REDACTED_Redacted April 30, 2021 City of Bozeman—RFP for sale of Fire Station 1 Thank you for the opportunity to be considered as your real estate agent for the sale of Fire Station 1. Our contact info for this proposal is as follows: Starner Commercial Real Estate 1276 North 15th Avenue Bozeman, MT 59715 (406) 539-0717 www.starnercommercial.com tom@starnercommercial.com We are a small, local firm that has been entrenched in the community for decades working on real estate investment and commercial sales and leasing. Formerly known as Gene Cook Real Estate, my brokerage underwent a name change last year and we became Starner Commercial Real Estate...same people, same location,just a nice new brand as we transitioned into the next decade and Gene Cook transitioned into retirement. Currently,the team consists of myself as broker/owner, Kevin Black,Sunny Odegard, Michael Reams, Karl Cook and Andrew Ash as salespeople. We are a very lean organization which helps us maintain an efficient level of service to our clients. I began my real estate career in 2001. Over the past twenty years we have become the local leader in commercial sales and leasing. Our track record and sales leadership continue to grow each year as we focus on understanding the market,taking care of our clients and trying to do what is best for Bozeman. We are the leading commercial brokerage in terms of commercial sales for the past several years, in 2020 we had sales volume of over$30,000,000 in listed and unlisted properties. We have vast experience in highly visible commercial sales including the recent disposition of several downtown core properties listed below: - The Main Street Overeasy Building - Nash Finch Building - The former Big Sky Western Bank building - The Baltimore building - The Mountain View Home (old Hospital). - Blackmore Marketplace (new Heebs) In all of these transactions I am the direct conduit and problem solver for the investors and developers as they navigated the City Planning and Building process. I try to be the mediator in most transactions helping to hold deals together. We have good relationships with architects, builders, City staff and all the other key people that are needed to get these properties to closing. We also tend to be the lease listing agent for these clients, which gives us a great link to what is needed in the community. Downtown has seen a great change, and the realization of the 2020 Plan is coming true as the non-main street corridors redevelop. Due to the amount of transactional work we do within the downtown core we are very aware of the challenges related to parking. More and more our commercial users are adapting to the reality of parking and adjusting their modes of transportation and/or realizing that part of being downtown is to be walkable two parking. Walking a few blocks in the corridor is what the experience in the corridor is meant to be. I am also trying to be part of the solution by trying to work with city and the Downtown Business Association to locate additional parking areas for a potential garage. I also am very familiar with the zoning downtown. It does not present a challenge to buyers or sellers as it is written. There is an education component, especially to out of town buyers,so that can be a process to make sure everyone understands the parameters we work in here. Our marketing efforts on properties are generally focused as follows: • Making sure the local real estate community is aware of our listings. We list all properties on MLS and provide flyers, plans and other materials on individual properties to local realtors as well as email marketing updates. • Property signage for public awareness. • National awareness provided by membership in Loopnet/Crexi and other syndicated listing services. This is becoming more prevalent in the past year, as the national buyers have their eyes on Bozeman. • Word of mouth. While these marketing efforts are standardized and important, I feel the most important aspect of the ability to move listings is ourselves. We typically try to narrow down who could,would or should lease or buy a property and then physically go seek them out in order to get the job done. We value our reputation as problem solvers and always put the client ahead of our own interests. We focus on finding buyers that can invest in a successful transaction City staff and commission will need to play an active role in the sale initially. We will need good documentation of the property, its site, easements, restrictions. We will need to work together initially to compile all the associated documents to have a reviewable file for perspective buyers to review. This is a burdensome process but getting it right solves a lot of future problems. The City will also need to be able to react quickly during the offer process. I expect, in our current environment that I would likely work towards a "call for offers"situation so that we can review qualified investors and make the best decision possible on which investor can actually get to closing with the least amount of complications. Sometimes the highest offer is not the best offer. It matters who the buyer will be. We would propose a 6.0% listing commission. We would split that fee with other real estate agent with a split of 3.25%for the listing agent and 2.75%for the buying agent. In the event where we had a dual agency event we would lower the commission to 5.0%of the sale price. We would propose a standard one-year listing agreement. In the current market environment, I would expect the property to be under contract in 60 days or less and close in 120 days or less. Some recent transactions in the downtown core we have sold. 1. The Baltimore Building—220 East Main List Price: Undisclosed Sale Price: Undisclosed Days on Market: 5 Notes on the sale:This building pricing was undisclosed in an agreement between buyer and seller. The property is pending and will close May 17, 2021 for a price range above $5,000,000. 2. 205 North Tracy—Mountain View Home (former hospital) List Price: $5,200,000 Sale Price:— Days on Market: 45 days Notes on the sale: Redevelopment opportunity purchased by HomeBase partners. 3. Address: 200 Highland (Heebs Grocery) List Price: $7,132,000 Sale Price:— Days on Market: 10 days Notes on the sale: Long term leased property sold to an investor as an income property. Sold to national investment company. 4. Address: 7-9 East Main (Main Street Overeasy) List Price: $2,600,000 Sale Price:— Days on Market: 180 days Notes on the sale: Income property in need of upgrading and lease stabilization. Sold to Virga Capital. 5. Address: 137 East Babcock List Price: $2,200,000 Sale Price:— Days on Market:150 days Notes on the sale: Former Gallatin Laundry, sold as a redevelopment property to local investor. Some references for you to contact: Randy Scully ScullyWest Development randy@scullywestproperties.com 914-450-8803 Jim Ness First Security Bank Jim.Ness@ourbank.com 406-249-4550 Don Cape,Jr. 1WT Properties dcape@iwtproperties.com 406-579-2316 1 have attached some of our marketing materials for review. Thank you for the opportunity to potentially list this property. I welcome any questions that you may have about me or my abilities. I also understand this is a process and that there are a handful of well qualified individuals that would do a great job in representing the City of Bozeman in this transaction. I would be happy moving forward with the City with this listing but completely understand if there is another direction that you need to take....in that event I would work hard to find a buyer for the property and would continue to do my best to help redefine the redevelopment of our downtown core. Sincerely, Tom Starner Starner Commercial Real Estate VqSTARNER COMMERCIAL M K C A L G S T A T G 406.539.0717 1276 North 15th Avenue#103 Bozeman, MT 59715 http://www.sta rnercommercial.com •x tit o� sT State of Montana This certificate verifies licensure as: Business Standards Division Board of Realty Regulation BROKER r1 With endorsements of: SUPERVISING BROKER RRE-BRO-LIC-12265 - -: - -_ Status: Active Expires: 10/31/2020 THOMAS STUART STARNER STARNER COMMERCIAL REAL ESTATE 1276 N 15TH STE 103 BOZEMAN, MT 59715 �Montana Department of t LABOR&INDUSTRY RENEW OR VERIFY YOUR LICENSE AT: �. https://ebiz.mt.gov/pol .40 Renew online at https://ebiz.mt.gov/pol by signing in with your username and password. The renewal cycle for your board opens 60 days prior to the expiration date on your current license. Renew your license prior to your expiration date to avoid being charged a late fee(s). Remember to maintain your online account information with a password, security question and a valid email address. You can update your account information by accessing the 'Account Management' link when logged in. RARE DEVELOPMENT OPPORTUNITY IN DOWNTOWN BOZEMAN STARNER COMMERCIAL R E A L E S T A T E , •�rM��� r .ram"mac +d 4T�-_ 1 j a _ 77 41 "' `-'fit.; ' ate. ,a�T��,'�4�'� ✓-�- C --_ B1 /�, Alp- �+ a �' ■ A TOTAL OF 1.51 ACRES INCLUDED IN TWO SITES: SITE 1 — 47,508 SF OF LAND WHERE THE EXISTING BUILDING SITS SITE 2 — 18,295 SF OF LAND THAT IS AN EXISTING PARKING LOT ■ B-3 ZONING FOR . . ® a Starner Commercial Real Estate. TOM STARNER broker I 1276 N. 15th Avenue,#103 1 Bozeman,MT 59715 406.539.0717 I T• 406.586.0302 1 F • 406.586.610,5 tom@a starnercommerical.com wwwstamercommercial.com ASPEN CROSSING AT MIDTOWN BOZEMAN,MT BOZEMAN'S NEWESTAND MOST UNIQUE MIXED-USE DEVELOPMENT GROUND FLOOR RESTAURANT/THIRD FLOOR 11I1 lll II I IIIlpuun RESIDENTIAL SPACE [[Ill ��) 1-' I I `• 14,000 SF OF SECOND FLOOR OFFICE STARNER SPACEAVAILABLE y O , A d ' MULTIPLE SIZE CONFIGURATIONS AVAILABLE IN l7•_ UJ LU 106 E BABCOCK ■ BOZEMAN,MTLLJ STRATA BUILDING LOCATED IN DOWNTOWN BOZEMAN REDEVELOPED BUILDING WILL OFFER • 46,000 SF OF COMMERCIAL OFFICE/ RETAIL SPACE • -- _ 15 UNITS UNDER CONTRACT,ONLY ■a ! + j �:. 3 STILL AVAILABLE - • c ° '$1.'_. TO BE COMPLETED SUMMER 2021 WILL INCLUDE ROOFTOP PATIO, y EXTERIOR COURTYARDS, ONSITE PARKING NELSON MEADOWS BOZEMAN,MT 0 ZONED M1 ® 5 TOTAL LOTS AVAILABLE, TOM ,: N 8 LOTS UNDER CONTRACT • ' _ ® 14 LOTS SOLD 40 .539. 1 CC&RS AND ARCHITECTURAL • ' • • GUIDELINES AVAILABLE KEVIN BLACK �— /��►�� LOT SIZES RANGING FROM 406.579.0560 0.7—5.56 ACRES �.�� LOT PRICING STARTING AT$365,000 WWW.NELSONMEADOWS.COM SUNNY ODEGARD 406.570.4931 suniiy@so-red.com KARLCOOK 4506 240 E. MENDENHALL karl@cookdevelopmentmt.com BOZEMAN,MT PROJECT FEATURES 48,000 BUILDABLE REAMSMICHAEL r SQUARE FEET 406.451.8283 Er CREEK AND PARK AREA ON SITE , I I p ON SITE PARKING AVAILABLE • 0 MAIN LEVEL COMMERCIAL SPACE 406.451.5106 - "it 1 ! I SECOND FLOOR COMMERCIAL/ tricia@)stamercomercial.comRESTAURANT SPACE,13 RESIDENTIAL UNITS ON FLOORS 3-6 MLS#340849 2020 SC.This informal ion has been obtained form sources believed reliable.We have not verified information and make no guarantee,warranty or representation about it.Any projections,opinions,assumptions or estimates used are for example only and do not represent current or future performance.You and your advisors should conduct careful,independent investigation of the property to determine your satisfaction and suitability of the property for your needs. COMMERCIAL PROPERTIES STARNER FOR SALE OR FOR LEASE COMMERCIAL WWW.STARNERCOMMERCIAL.COM 411 E. MAIN, UNIT 102 1946 STADIUM DRIVE SHEDHORN SUBDIVISION BOZEMAN, MT BOZEMAN,MT BOZEMAN,MT Lo - I 3,200 SF ON MAIN LEVEL AND 500 SF 1 ON SECOND LEVEL • • SHED HORN ' • • ' 6+LARGE PRIVATE OFFICES 1.50 ACRES 1.13 ACRES 818 SF DOWNTOWN RESTAURANT RECEPTION,COPY ROOM,KITCHENETTE MLS#305625 OR RETAIL SECOND FLOOR STORAGE AND LOT 31, LOT HIGHLY VISIBLE CORNER LOCATION WORKROOM SHIEDHORN PRONGHORN CURRENTLY BUILT OUT FOR RESTAURANT ADDITIONAL 1,893 SF AVAILABLE IN 1.20 ACRES 1.02 ACRES INCLUDES INTERIOR AND EXTERIOR ADJACENT UNIT "9 310890 SEATING SPACE,RESTROOM ADJACENT UNIT INCLUDES CENTRAL LOT 32, LOT POSSIBLE ADDITIONAL STORAGE RECEPTION/WAITING ROOM AND 6 SHEDHORN PRONGHORN PRIVATE OFFICES MLS#354817 LOTS OF BUILT IN DESKS,BOOKSHELVES 310889 •• • MLS# 355695 BUILD TO SUIT OPTIONS 1001 OAK ST. THORPE RD., LOT 4 TBD EVERGREEN BOZEMAN,MT BELGRADE, MT BOZEMAN,MT 3 — t a i 4 1 000 F _ PAD D PAD 4.86 ACRES 0, r'ME COMMERCIAL JUST OVER 1 ACRE IN NORTH BOZEMAN $1,309,000 $1,089,360 DEVELOPMENT LAND 00 SF .,D 14,350 SF .,D ZONED M2 M1 ZONING IDEAL FOR:OFFICE, ADJACENT TO MYSTERY RANCH WAREHOUSE,MANUFACTURING, LIGHT INDUSTRIAL MLS#340529 TWO PAD SITES WILL INCLUDE A GREAT INTERSTATE EXPOSURE PARKING LOT WITH 1-90 FRONTAGE BUY PAD&BUILD YOUR MLS#335602 OWN BUILDING 2020 SC.This information has been obtained form sources believed reliable.We have not verified information and make no guarantee,warranty or representation about it.Any projections,opinions,assumptions or estimates used are for example only and do not represent current or future performance.You and your advisors should conduct careful,independent investigation of the property to determine your satisfaction and suitability of the property for your needs. COMMERCIALCOMMERCIAL PROPERTIES STARNER FOR SALE OR FOR LEASE • • TBD PATRICK STREET, TBD SIMMENTAL 200 HIGHLAND BLVD. BOZEMAN,MT BOZEMAN, MT BOZEMAN,MT I Y r lt�• -- ! ' I -'•a - I I`51" �IL� — -- =tea jam I �. st a'M`. -tea - .-.'.:�.. ..,, ... - - •.. - ,. _y�^�-�,� a� rf .4 C, SHELL OFFICE SPACE READY FOR BUILD OUT THREE. 7t, IERCIAL LOTS LOCATED ABOVE THE NEW HEEBS LOCATL`NORTH OF KENYON NOBLE 2 ACRE COMMERCIAL LOT GROCERY STORE OFF OAK STREET B2 ZONING 2,500-9,000 SF SPACES AVAILABLE 2.6 ACRES LOCATE JUST SOUTH OF ROCKY CONVENIENT LOCATION JUST 1/2 MILE TO B2 ZONING MOUNTAIN CREDIT UNIT OFF BAXTER DOWNTOWN AND 1/4 MILE TO INTERSTATE MLS# 352889 MLS# 354545 COMMON AREA CONFERENCE AND BATHROOMS WITH SHOWERS MLS#342850,344220,344228,344229 1958 STADIUM DRIVE 1001 W. OAK ST TBD GRAVES TRAIL BOZEMAN,MT BOZEMAN,MT BOZEMAN,MT -r4lW7 4 3 TWO UNITS k 4'-_ABLE �?161 AN`51 tj SF) PRIME OPPORI UNITY IN FOUR CORNERS UNITS CAN BE COMBINED INTO THREE COMMERCIAL LOTS BEING LARGER UNIT ZONED CITY OF BOZEMAN-B2 SOLD TOGETHER LOCATED IN STADIUM CENTER JUST TRAFFIC-21,969 ADT TOTAL OF 9.92 ACRES SOUTH OFKAGY EXCELLENT EXPOSURE JUST CURRENTLY UNDER CONSTRUCTION- GREAT COMMON PARKING SOUTH OF HUFFINE AND BUILD-OUT OPTIONS AVAILABLE EXCELLENT FINISHES&LOCATION JACKRABBIT INTERSECTION MLS#345185&345532 MLS#349798&#354091 MLS#342275 2020 SC.This information has been obtained form sources believed reliable.We have not verified information and make no guarantee,warranty or representation about it.Any projections,opinions,assumptions or estimates used are for example only and do not represent current or future performance.You and your advisors should conduct careful,independent investigation of the property to determine your satisfaction and suitability of the property for your needs. COMMERCIAL PROPERTIES FOR SALE OR FOR LEASE STARNER COMMGRCIAL WWW.STARNERCOMMERCIAL.COM 206 N GRAND 288 HALEY SPRINGS RD. 2090 STADIUM DRIVE BOZEMAN,MT BOZEMAN, MT BOZEMAN,MT i , S,I I rt♦ - i tiL • mil ._ . 2,411 SF OFFICE FOR LEASE DOWNT(-,J'I L-)ZEMAN OFFICE I CURRENTLY BEING BUILT OUT,COULD BUILD':'-7,' r(RENT BE READY BY 7/1/2021 6,151 SF. rICE BUILDING ON 4,704 b ` MLS#351197 TWO LEVELS TWO LEVELS INCLUDES 10 PRIVATE LOCATED IN STADIUM CENTER ON OFFICES,CONFERENCE ROOM,TWO CORNER OF KAGY AND STADIUM DRIVE KITCHENS,RECEPTION AND STORAGE I;; OFF STREET PARKING MLS#351256 r'TIS NEGOTIABLE MLS#352891 502 S. 19TH AVENUE 137 E. BABCOCK 4020 VALLEY COMMONS BOZEMAN,MT BOZEMAN,MT BOZEMAN,MT All ' 1 1 1 1 1 SALES 2)35010 RETAIL,OFFICE AND RESTAURANT LEASE$ + i'• SPACES AVAILABLE $14/SF ND FLOOR INVESTMENT OPPORTUNITY WITH ONE BLOCK OFF MAIN STREET TENANTS IN PLACE 1 OVER 19,000 SF ® 9,56 r ANDALONE COMMERCIAL CENTRAL BOZEMAN LOCATION B''11 4,634 SF 711 SF JUST NORTH OF MSU AND SOUTH OF i .,CRES MAIN STREET UNIT 102 UNIT 66 SF ON MAIN FLOOR AND 3,800 SF UNIQUE LOBBY WITH TONS OF NATURAL 2,196 SF 2,017ON SECOND FLOOR READY FOR BUILD LIGHT AND FOLIAGE OUT MLS#348694 UNIT 103 OPEN FLOOR PLAN 767 SF HUFFINE VISIBILITY 2020 SC.This information has been obtained form sources believed reliable.We have not verified information and make no guarantee,warranty or representation about it.Any projections,opinions,assumptions or estimates used are for example only and do not represent current or future performance.You and your advisors should conduct careful,independent investigation of the property to determine your satisfaction and suitability of the property for your needs.