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Single-Tenant Office

Meadow Lark HQ | New 7-Year NNN Lease | 2% Annual Increases

2913 Millennium Cir, Billings, MT 59102

Listing Price: $3,380,000

Cap Rate
8.25%
Gross SF
20,275
Rentable SF
20,275
Price/Gross SF
$166.71
Lot Size
2.83 acres
Year Built
2004

Investment Overview

Marcus & Millichap's Brown Retail Group has been selected to exclusively market for sale Meadow Lark Company's Corporate Headquarters located in Billings, MT. Meadow Lark Company is a national trucking and logistics company featuring 40 terminals across the nation and generating over $200M in annual revenue with clients such as Costco, Clorox, Walmart, Michaels, Firestone, Dr. Pepper, Samsung, Purina, Procter & Gamble, General Electric, Coca Cola, and more. Meadow Lark Company will sign a new 7-year NNN lease with 2% annual increases at the close of escrow. The NNN lease offers minimal landlord management or repair responsibilities. A new roof was installed in 2018, with a transferrable warranty though 2038, and within six months after close of escrow, the Tenant will install new carpet throughout the building and preform upgrades to the HVAC units. The Property benefits from its location in the heart of Billings MSA's retail and industrial corridor. Within a 5-mile radius, the population has grown over 9% since 2010 with average household incomes at nearly $80,000/year.

Investment Highlights

  • NEW 7-YEAR NNN LEASE SIGNED AT CLOSING
  • CORPORATE GUARANTEE
  • PRICED SIGNIFICANTLY BELOW REPLACEMENT COST
  • MINIMAL LANDLORD RESPONSIBILITIES
  • RECENTLY RENOVATED / 2024 SCHEDULED UPGRADES
  • HIGH QUALITY CONSTRUCTION
  • NEW ROOF IN 2018 WITH TRANSFERRABLE WARRANTY
  • STRONG HISTORICAL OCCUPANCY

Exclusively Listed By

Broker of Record

  • Adam Christofferson

    Senior Vice President/Division Manager

    (801) 736-2600

    License(s) MT: RRE-BRO-LIC-15748

    Montana

Single-Tenant Office

Meadow Lark HQ | New 7-Year NNN Lease | 2% Annual Increases

Listing Price: $3,380,000

Cap Rate
8.25%
Gross SF
20,275
Rentable SF
20,275
Price/Gross SF
$166.71
Lot Size
2.83 acres
Year Built
2004

Investment Highlights

  • NEW 7-YEAR NNN LEASE SIGNED AT CLOSING
  • CORPORATE GUARANTEE
  • PRICED SIGNIFICANTLY BELOW REPLACEMENT COST
  • MINIMAL LANDLORD RESPONSIBILITIES
  • RECENTLY RENOVATED / 2024 SCHEDULED UPGRADES
  • HIGH QUALITY CONSTRUCTION
  • NEW ROOF IN 2018 WITH TRANSFERRABLE WARRANTY
  • STRONG HISTORICAL OCCUPANCY

Investment Overview

Marcus & Millichap's Brown Retail Group has been selected to exclusively market for sale Meadow Lark Company's Corporate Headquarters located in Billings, MT. Meadow Lark Company is a national trucking and logistics company featuring 40 terminals across the nation and generating over $200M in annual revenue with clients such as Costco, Clorox, Walmart, Michaels, Firestone, Dr. Pepper, Samsung, Purina, Procter & Gamble, General Electric, Coca Cola, and more. Meadow Lark Company will sign a new 7-year NNN lease with 2% annual increases at the close of escrow. The NNN lease offers minimal landlord management or repair responsibilities. A new roof was installed in 2018, with a transferrable warranty though 2038, and within six months after close of escrow, the Tenant will install new carpet throughout the building and preform upgrades to the HVAC units. The Property benefits from its location in the heart of Billings MSA's retail and industrial corridor. Within a 5-mile radius, the population has grown over 9% since 2010 with average household incomes at nearly $80,000/year.

Exclusively Listed By

Broker of Record

  • Adam Christofferson

    Senior Vice President/Division Manager

    (801) 736-2600

    License(s): MT: RRE-BRO-LIC-15748

    Montana

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