Peoples Company is pleased to exclusively represent the Yellowstone Gateway Mall, a 47,777 square foot multi-tenant retail center in Livingston, MT.
The center offers a strong mix of national and local tenants including The UPS Store, Yellowstone Gifts and Sports, Aestetic Oral Arts, Crust and Crumb Bakery, Pony Express Lube and Upper Cut Salon. The center is anchored by a newly renovated and expanded Ace Hardware store occupying over 15,000 square feet with a lease extending through 2024 and additional renewal options through 2034.
The leases feature rental increases of up to 10% and staggered lease expirations providing investors a strong and stable return. Expenses are shared between tenants, neighboring Shopko and Landlord.
Current vacancy of 10,500 square feet provides tremendous upside potential as 2015 CAP rate approached 4%. The property is projected to cap at 6.5% when fully leased and before scheduled rate increases take effect.