CBRE Arranges $19.8 Million Sale of Industrial Facility in Billings, Montana

CBRE arranged the $19.8 million sale of a 39,600-square-foot industrial facility located at 6767 Tun Tavern Road in Billings, Montana. A Los Angeles-based 1031 exchange buyer, Deary Re LLC, purchased the property.

CBRE’s Geoffrey Turbow, Anthony DeLorenzo, Matt Pourcho and Griffen Tymins represented the seller, Cogburn Lot 1 LLC.

Completed in 2024, the single-story facility sits on approximately 9.77 acres, including 7.75 acres of excess land. The property features 24-foot clear heights, six truck wells, three grade-level roll-up doors and 2,000 amps. The site also includes 244 parking spaces.

“This transaction reflects the continued California-based 1031 investor demand for modern, mission-critical industrial assets supported by long-term tenancy and strategically located within growing regional distribution networks,” said Turbow, a senior vice president at CBRE. “This was a great outcome for our seller, given our collaboration and asset management to assist with lease modifications to enhance the property’s value further. The property’s institutional-quality construction, extensive infrastructure and additional improved land created a compelling investment opportunity with both durable income and long-term flexibility.”

The property is approximately one mile from the interchange of U.S. Highway 212 and Interstate 90, providing connectivity to key north-south and east-west transportation corridors. It serves as a last-mile distribution facility for a global e-commerce company.