Overview
Murdoch’s is a regional ranch and home supply chain that originated in Bozeman, Montana. The first Murdoch’s location was opened in 1994 by John Murdoch, a veteran in the ranch and home supply industry. Mudoch’s was an immediate success among ranchers, outdoors lovers, and many other Bozeman locals. In the 3 years following, Murdoch’s upsized to a larger location twice to accommodate more products desired by loyal customers.
Today, Murdoch’s Ranch and Home Supply has over 40 locations in Montana, Wyoming, Colorado, Idaho, Nebraska, and Texas. The stores offer everything from livestock and agriculture to sporting goods, power equipment, tools and hardware, clothing, and much more.
Murdoch’s generates roughly $280M in annual revenue (2021). In 2017, Murdoch’s partnered with Tecsys, a leading supply chain management software company, to open their online store. The addition of an online store helped Murdoch’s increase its sales and expand to markets beyond the West. Murdoch’s recently renewed their partnership with Tecsys in early 2023.
Investment Highlights
19+ years remaining on double-net (NN) lease of a free-standing Murdoch’s in Johnstown, CO. The lease includes 5 x 5-year options and 10% rent increases every 5 years.
Seller Carry Financing at 5% Interest Rate, Interest Only for Five Years (Buyer Must Qualify)
The tenant is the corporate entity of Murdoch’s Ranch & Home Supply, a privately owned merchandise store selling home goods, outdoor gear, farm and ranch supplies, and more. The regional chain is popular within the West and Midwest US with 44 locations throughout Colorado, Montana, Wyoming, Idaho, Nebraska, and Texas.
Murdoch’s is part of a new 200-acre mixed-use development, Ledge Rock Center. Once completed, the Ledge Rock Center will feature 1,200 apartment units, 160 single-family homes, and over 1 million SF of retail.
A newly opened Buc-ee’s is located across the interstate from the subject property. The site marks the company’s expansion outside of the Southern US and includes a 74,000 SF retail building, 116 fueling stations, and 12 EV charging stations. Buc-ee’s locations typically see over 4.6 million annual visitors (Placer.ai).
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