Millennium Circle Office

 

FOR SALE

$9,992,000

2909 Millennium Circle

Billings, MT 59102

970 S 29th Street West

Billings, MT 59102

Two Fully Rented Office Buildings

 

1031 Exchange Potential

  • NNN Fully Leased
  • Healthy Annual Rent Escalations
  • Great Westend Location
  • Fee Simple Interest
Connected by a Sky Bridge  


South Building

Built in 2007

North Building

Built in 2015

 

The South Building, fronts Millennium Drive, contains approximately 22,525 sf of rentable office space.

 

 

The North Building, on S 29th St W, contains approximately 20,673 sf of rentable office space.

 The Total Site Acreage is approx-imately 3.9± acres with some irrigation shares. Additional acreage available. Ask agent.
3.9± Acres, Bike Paths, & Pond  

OFFICE BUILDING INVESTMENT

 

About the

Tenants

HDR Engineering “HDR” has been a tenant since construction in 2007 & occupies 78% of the rentable square footage. Payment Alliance International “PAI” (a subsidiary of the publicly traded Brinks $BCO) occupies the balance of 22% of the total rentable square footage.



 

LEASING INFORMATION

 

Professionally Managed

Both offices are professionally managed by ROVE Property Management. Management cost is included in the tenant CAM.

 

Lessee: HDR Engineering

NNN Lease, 2.75% Annual Escalators. Current 5-year lease, maturing on 1/31/28. Two 5-year options to extend. Rent rate $557,209.65.

 

Lessee: Payment Alliance

NNN Lease, 1.5% Annual Escalators. Current 3-year lease, maturing on 3/31/28. Rent rate $167,166.44.

 

WELL LOCATED IN

BILLINGS WESTEND

Just off of a major arterial road in Billings, this property is well placed amongst several local & nationally known brands.

3.9 ACRES IN TOWN

The Billings Westend biking & walking trails run through the property & offer uninterrupted biking & walking access across the entire city. 4.6± acres available for sale north of subject property for additional space or development.

NOI
Yield

$724,376.09

  

CAP
RATE

7.25%

  

SALES
PRICE

$9,992,000

For the lawn, there are irrigation shares. The pond (by the south building) fills naturally from ground water. The North building is on city water. Ask agent for more details.