Phase 2: SCL Healthcare & Retailers

BOZEMAN’S PREMIER RETAIL DESTINATION UNDERGOING TRANSFORMATION AND WELCOMING MONTANA’S FIRST WHOLE FOODS MARKET AND NEW MEDICAL PAVILION

Gallatin Valley Mall is undergoing a $50+ million, multi-phase redevelopment and will soon be rebranding and changing the property name, Gallatin Crossing. This redevelopment is a total transformation from Bozeman’s storied and traditional shopping mall to a modern, mixed-use center that houses high-end retail, entertainment, medical and grocery offerings. The first phase of the extensive physical changes, as well as the broad and diverse new slate of premium tenants, are expected to be completed in the next year. The project is being led by Billings-based owner Corning Companies, Situs Realty Group, and development partners Boston-based Grossman Development Group and Boston Realty Advisors.

The first phase of this property’s transformation into Gallatin Crossing, which began in September 2022, includes demolishing a significant portion of the enclosed mall to make room for modern medical services and new retail experiences. Significant improvements to the entire property are projected for the next phase of the redevelopment including mall façade upgrades, parking, landscaping, wayfinding signage and lighting - all planned to begin construction in Spring 2023.

“As Bozeman experiences unprecedented growth, Gallatin Valley Mall/ Gallatin Crossing is evolving to maintain its position as the area’s premier destination for both essential and discretionary retail,” said Steve Corning, CEO of Billings-based Corning Companies. “Adding the medical use creates more convenience for patients who can fulfill many essential needs in one location. Not only is Gallatin Valley Mall/ Gallatin Crossing the geographic center of Bozeman, but with these new upgrades, it will be the comprehensive lifestyle center in the market.”

The major components of this first phase of redevelopment are the addition of a new, Medical Pavilion, and Montana’s first Whole Foods Market. The 45,000 SF Medical Pavilion brings together two of the region’s most established healthcare entities, SCL Health, now Intermountain Healthcare, and Ortho Montana PSC. The Medical Pavilion intends to open in 2023 and create great synergies for the new, mixed-use development.

Jeremy Grossman, Principal of Grossman Development Group says “National brands are now competing for access to this customer base and we expect to draw a wide range of popular concepts to feed the new demand for elevated retail and services.”

About Corning Companies

Corning Companies, formed by CEO Steve Corning, began developing commercial, light industrial, healthcare and multi-family real estate in 1979. With a primary focus on power centers and regional center development, Corning Companies owns, manages, and has developed over 1,300,000 square feet of retail, office, light industrial, healthcare, and multi-family properties throughout Montana. In 2018, Lilly Corning Thompson joined the team, which is responsible for all phases of development including site acquisition, pre-development activities, capital formation, marketing and leasing, design and construction management. For more information, visit www.corningcompanies.com.

About Grossman Development Group

Grossman Development Group, LLC (GDG) specializes in retail and mixed-use development, redevelopment and acquisition. GDG’s expanding portfolio throughout New England and beyond is internally leased, managed and (re)developed by an experienced team of industry leaders. Led by industry veterans Howard Grossman and Jeremy Grossman, the firm is well-known for retail excellence and community engagement. For more information, please visit www.grossmanre.com.

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BOZEMAN’S PREMIER RETAIL DESTINATION UNDERGOING TRANSFORMATION AND WELCOMING MONTANA’S FIRST WHOLE FOODS MARKET AND NEW MEDICAL PAVILION

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