CHEYENNE, Wyo. — The county has officially acquired a building located near the Laramie County Government Complex in downtown Cheyenne.
Coldwell Banker Commercial The Property Exchange announced Wednesday it has sold its $5.5 million building to the county. The facility, located at 2020 Carey Ave., is a 74,476-square-foot office building occupying a full city block in downtown Cheyenne.
County commissioners made a final approval on the transaction at their July 2 board meeting. James Bowers of Coldwell Banker Commercial The Property Exchange represented both the county and the seller, Voss Family Limited Partnership, in the transaction.
“The County of Laramie purchased the property for potential runway to occupy the office space as their need for space grows,” Bowers said in a news release. “They liked the idea of an investment with cashflow prior to their future needs. The proximity to the county governmental complex, replacement cost alternatives, and ample parking were drivers for the buyer.”
Bowers became involved with the property as a leasing agent for the seller in fall 2020, when it was almost 90% vacant after the departure of a large single tenant. After achieving roughly 80% occupancy, the owner decided to explore the potential of a sale.
“We listed in it July of 2023,” Bowers said. “A handful of investment buyers evaluated the property and submitted unsuccessful offers. The property went under contract with the eventual buyer in October 2023 with a significant due diligence period, and a successful sale in July of this year.”
