By Rose Law Group Reporter
(BILLINGS, Mont.) – Lee & Associates, which specializes in providing exceptional commercial brokerage services of industrial, office, investment, multifamily, retail, and land, is pleased to announce the sale of the West Park Promenade in Billings, Montana.
Paradise Valley resident, Jan Fincham, Principal at Lee & Associates Arizona partnered with Shane Jimenez, Principal at Lee & Associates Idaho to represent the seller.
Fincham, with over 35 years active in the real estate industry, has extensive experience in retail, office, and industrial investment sales throughout Arizona and the Southwestern United States.
Fincham leveraged his knowledge and contacts in the Western United States in conjunction with an extensive marketing plan to sell the property. Through their combined efforts, Fincham and Jimenez were able to garner multiple offers and close on the property within 3 months. The property closed for $23.4 million.
“Montana is a hot spot right now and has been a very attractive market with an unprecedented demand,” said Fincham. “We are pleased by the response to this property, it is an amazing shopping center in a prime location.”
The West Park Promenade is situated on over 12 acres and boasts 145,637 square feet. The prime shopping plaza is a daily needs shopping center anchored by a new Town & Country Foods grocery store. The property went under a $13 million renovation to transform it from a mall to a community shopping center and now features a diverse mix of internet-resistant tenants including a Red Robin, Massage Envy, and Yellowstone Fitness.
The property features excellent visibility and access from significant traffic counts. The West Park Promenade is located strategically in the heart of Billings, the largest city in Montana, and services over 150,000 people.
The seller is a Ketchum, Idaho area investor and the buyer is a Bellevue, Washington 1031 exchange investor.