Land

Recent land transactions and volume remains healthy with the vast majority of purchases coming from owner users, mainly in the industrial sector. West End land activity has remained healthy as well with numerous breweries purchasing land for second locations or first time locations in the Billings area. Nissan also purchased a few lots for their new location near Zoo Drive and NAI assisted with two bank user land purchases as well in west Billings. Overall, cost of construction has limited developers ability to purchase land and build spec space, for lease, but owner user activity has kept the land market relatively healthy. Lastly, NAI is assisting with the Zimmerman Lots listing in west Billings, which is a three block offering with a mix of residential/multifamily and residential professional zoning.