Wyoming industrial is concentrated across Cheyenne, Casper, Jackson, and Laramie. Cheyenne is anchored by F.E. Warren Air Force Base (the headquarters of the 90th Missile Wing), state government employment, and a growing data-center cluster built by hyperscale operators; Casper is the energy-services-driven secondary metro; Jackson is the globally recognized Jackson Hole resort market with one of the most supply-constrained land markets in the country (most of Teton County is federal land) . Cheyenne-area distribution and logistics product anchors the institutional industrial bid pool, with regional-bank and life-company competition on stabilized Class A bulk distribution and last-mile product.
Active capital sources
- Life Companies
- CMBS Lenders
- Wyoming Regional Banks
- National Debt Funds
Loan programs we place
- Bulk Distribution Perm Debt
- Last-Mile Industrial Acquisition
- Build-to-Suit Construction-to-Perm
- Industrial Refinance / Recapitalization
Source notes
- BLS QCEW, 2025
Frequently asked questions
What LTV is realistic on stabilized Cheyenne industrial?
Stabilized institutional bulk distribution and last-mile product typically clears 60% to 70% LTV through life companies and CMBS; debt yields of 8.5% to 10.0% effectively size most highly leveraged executions . Single-tenant credit-tenant net-leased product with long WALT can stretch into the 65% to 75% range on the back of underlying tenant credit.
Do you finance cold storage and specialty industrial in Wyoming?
Yes. Cold storage, food-and-beverage processing, and aerospace-supplier industrial each draw specialty lender pools with distinct underwriting standards. The specialty industrial debt funds active on cold-chain and food-grade product treat large-format institutional cold storage as a primary asset class, and life-company correspondent shops with food-and-beverage industrial expertise quote stabilized institutional product on competitive terms.
What is Wyoming's transfer tax structure for commercial industrial?
Wyoming does not impose a state real estate transfer tax. Counties impose a small recordation fee that is nominal. The absence of a state transfer tax, combined with no state income tax and no state corporate income tax, materially reduces transactional and ongoing-ownership costs versus most other states and is a structural cost advantage for Wyoming CRE transactions, particularly for high-net-worth Jackson Hole second-home and trophy-resort hospitality investment.
Are construction loans available for build-to-suit industrial in Wyoming?
Yes. Construction-to-perm executions for credit-tenant net-leased product draw competitive bidding from regional banks and a focused subset of national debt funds. Required equity is typically in the 25% to 35% range with partial recourse during construction burning off at stabilization, and long-WALT take-out through CMBS or life companies is the typical exit. Pre-construction lease execution with an investment-grade tenant materially improves both pricing and proceeds: the same physical building with a 10-year credit-tenant lease in hand at construction-loan closing typically clears 50 to 100 basis points tighter than a comparable speculative build, frequently with materially lower required equity.