"The Steamplant" is the perfect candidate for adaptive reuse
CHALLENGE
800 W. 17th St. or The Steamplant in Cheyenne, Wyoming was a historic landmark in need or an owner to re-purpose/retrofit the building from its original, while maintaining its original structure. Omega Industrial Supply Inc., a supplier of industrial products was looking to Cheyenne as a new location for their business. In order to get up and running, Omega needed a temporary landing place, while searching for a more permanent location to build a manufacturing and distribution center. Due to the lack of industrial property inventory and the business owners experience in re-development and adaptive reuse of industrial property, The Steamplant became a viable option for Omega.
ACTION
The Steamplant had significant interest from parties looking to redevelop, however, the right buyer had not been found. Rob Graham and Ben Trautwein recognized an opportunity for Omega Industrial Inc. to use The Steamplant as a temporary site for business operations, while searching for a more permanent location. The property could be utilized by Omega with some modification and additions fairly quickly and much faster than building a new building. This allowed Omega to get setup and established in Cheyenne. At the same time, the owner of Omega could begin the planning process for the redevelopment of the property down the road.
RESULTS
Within a few weeks of touring the property, The Graham Group was able to negotiate terms and their Client was able to place The Steamplant under contract.
Guided their client through due diligence and inspection process to ensure high comfort level with their purchase.
Successfully conducted due diligence and closed the property in 83 days significantly under the 120-80 day average for this type of property.
Helped the client achieve the goal of getting their business up and running before 2020.
"I had contacted Rob Graham and Ben Trautwein to help us search for Industrial Property in Cheyenne. During a showing of another property Rob mentioned The Steamplant as a potential solution for our real estate needs. The CBC team helped negotiate terms, coordinate inspections, and provided sound advice throughout the deal. I was impressed with their ability to move the transaction along and efficiently advance the deal to the closing table. I look forward to working with Rob and Ben in the future." - Adam Brady Omega Industrial Supply