One of Wyoming’s two escalators, along with the eight-story First Interstate Bank building it serves at 104 Wolcott St. in Casper, will be hit the market for $8.8 million in the coming week.
First Interstate Bank Market President Nick McNamee said the bank plans to part with the building built in 1958 to consolidate its two downtown bank operations, which include the branch and a drive-up facility across the street, into one.
“This is the first step in the process of bringing our entire team together under one roof,” he said. “We remain very much invested in the Casper community.”
Casper commercial real estate agent Chuck Hawley of CBC Cornerstone Real Estate is handling the sale of the building. He characterizes the property as a “unique opportunity” to possibly attract an out-of-state corporation to the community.
Other potential for the 96,000-square-foot building includes retail or office space, or possibly turning upper floors into housing or apartments, he said.
“We’re able to offer continuous square footage and that is something that hasn’t been able to be listed in Casper,” he said.
His website lists 3,630-square-foot office space for rent on the fifth, sixth and eighth floors of the bank building.
McNamee agreed the property is “unique.”
“The First Interstate Building is iconic, and the bank isn’t able to use it to its full potential,” he said.
McNamee said plans call for the bank to find a buyer and then negotiate a lease with the new buyer for bank operations to continue until a new building project could be completed at the drive-up facility across the street at 124 N. Wolcott St.
“We don’t have plans fully developed yet. Our first step in the process is that we would look to sell and then complete the ‘lease back’ and try and negotiate that for our current location,” McNamee said. “We would be leasing back for our current location while we construct the new location.”
The new facility would be a full-service branch for the multi-state, $30.5 billion bank.
Roots In Casper
First Interstate Bank’s Casper roots can be traced to 1889 through various acquisitions, McNamee said. The bank’s original branch was in Sheridan, and McNamee said the Homer Scott family of Wyoming, which bought the Sheridan branch in 1968, remains an active stakeholder with the company.
When the Casper bank building was built in 1958, its escalator was big news.
“At the time it was built, it was one of the only buildings in the Western United States that had an escalator,” McNamee said. “So, it was advertised as a new and modern building back then.”
The only other escalator in Wyoming can be found at Hilltop Bank, also in Casper.
Dale Killingbeck can be reached at firstname.lastname@example.org.