PureWest Christie’s International Real Estate Owner-Broker Devin Khoury recently facilitated the notable sale of the historic Florence Hotel, a seven-story, 130,000 square foot Modern-style building in Downtown Missoula, Montana.
The sale was the result of personal relationships and strong local connections; the property was never actively listed on the market and the owners were not soliciting offers. Devin Khoury represented the buyer in the transaction which took approximately 6 months to complete. Part of the sale involved a large ongoing renovation project that maintains the historic significance of the building while weaving in modern amenities. One main reason this transaction was able to occur was that the buyer had the same affinity for maintaining the integrity of this building as the seller. The seller has taken great pride in retaining as much of the original design as possible and the new owner has done the same with many historical buildings in his past. This sale is another in a long line of Missoula’s downtown resurgence. Within the last 18 months, Devin Khoury has personally listed and sold over $21,000,000 in downtown properties. He and his clients are working to preserve the historic value in the downtown district, helping to strengthen the market and local economy.
The History of the Florence Hotel –
The Florence is the 5th tallest building in Missoula located at 111 North Higgins Avenue. The original hotel, constructed in 1888 offering a comfortable resting place for travelers, burned down in 1913. The hotel was rebuilt as a 106-room hostel and community gathering place until it was again destroyed by a tragic fire in 1936. Despite being amid the Great Depression, influential businessmen decided to rebuild the hotel just 5 years later. The masterfully designed, progressive, “jewel of a hotel” welcomed visitors for the next 3 decades. Guests, such as John Wayne, enjoyed state-of-the-art amenities unmatched throughout the northwest. In the 1970s the building transformed into an office complex with retail stores inhabiting the ground floor.
The present-day Florence Building is in the midst of a massive renovation. The previous three owners have been philanthropic stewards of the building with the common goal of restoring the historic structure to its original beauty. The new owner plans to continue this tradition of improving the sustainability of the structure while maintaining its opulent splendor and romantic wild west history.
About PureWest Christie’s International Real Estate
PureWest Real Estate is an exclusive affiliate of Christie’s International Real Estate and is the largest, independently owned brokerage in Montana offering clients unparalleled resources. We are comprised of 17 offices statewide with more than 155 agents and offer a wide network of services and technologies, bringing you premier real estate solutions and results.
PureWest’s affiliation with Christie’s allows for additional knowledge and personalized attention that is executed in a worldwide network of offices. This provides Sales Agents with global exposure to satisfy and produce real estate results for buyers, sellers and investors. Our Sales Associates meet strict standards of service, excellence and demonstrate proven success in handling distinctive properties.