The State Of Wyoming Has Acquired Some Prime Real Estate In Sheridan

RockWell Petroleum built a 23,000 square foot building in Sheridan several years ago. They had planned to house their U.S. headquarters there. The recent RockWell bankruptcy has forced them to liquidate many of their assets including what is basically a brand new facility at the corner of 5th Street and Mydland Road in Sheridan.

The State of Wyoming purchased the building Wednesday for $5 Million. That is about one-third of what it cost to build it. The purchase was authorized by the Wyoming Building Commission, which is comprised of the 5 state elected officials.

Rich Cathcart with the State of Wyoming says the purchase price was the only offer and it was accepted. A Federal bankruptcy court in the Wyoming District released the property from bankruptcy prior to the closing, so Wyoming will acquire the property unencumbered.

There are no definite plans for the use of the facility but the State has over 50,000 square feet of leased space in Sheridan. Moving some agencies to the building would be much more efficient for the State in the long run.

uBlaze Vapor
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It would be great if that

It would be great if that building was bought buy a company that would make all these great new jobs for Sheridan. But you gotta be realistic, too. Rockwell has a right to sell the building to help settle their debts, and not sit around hoping that a miracle will happen. Would you prefer the building sat empty, while the state forks out hundreds of thousands of dollars per year in leases to a couple of fatcats that reap the benefits? Leased buildings don't equal more jobs for the community or more money in my pocket or yours. Just like it does not make sense for you or I to rent when we can buy, same goes for the government. I am not disrespecting the people that lost their jobs when Rockwell went under, rather I am poking fun at your unfounded, shortsighted government conspiracy theories.

bullfrog

First I'm kinda on your side

First I'm kinda on your side here, I agree that it was a good economic move for government. I'm not talking about "government conspiracy theories" I'm talking about FACT... I have no clue why you feel tossing out "conspiracy theories" gives strength to you argument. FACT is that this represents bigger government. As a republican, I am opposed to big government it's that simple.

Aside from your little brain

Aside from your little brain "moron" comment your right.. That was the whole point. You'll be a great hit with all the people that worked in that building, who are now in the unemployment line.. But people like you dont care, your more concerned with dumb things. Great, the goverNment got a building in a fire sale SWEET, and now when they vacate the leases they have in other areas of sheridan the leasing agents can lay off a few more people. Your so proud of yourself, your the typical person who can only thing of the firesale building, not the effect of how it got to that point and what happens after. I'll give ya credit, your the typical person who can only see the carrot in front of you.... Keep moving, maybe if your lucky some day you'll get a bite of that carrot.

Dear Dillio

Its goverNment, you moron. What master plan are you referring to? the one that planned the economic recession? Also, FYI- the State pays out hundreds of thousands of dollars annually on building leases in Sheridan. To me, that is waste, not buying a building that nobody else wanted- a building that WILL BE worth alot more than what was paid for it. That is a smart use of taxpayer money.

bullfrog