Alturas Capital Partners Acquires Pershing Plaza In Cheyenne, Wyoming

Alturas Capital Partners Surpasses 4 Million Square Feet with Acquisition of Pershing Plaza in Cheyenne, Wyoming 

Cheyenne, Wyoming – September 4th, 2025 – Alturas Capital Partners (ACP), an Idaho-based real estate investment and operating company, is pleased to announce the acquisition of Pershing Plaza, a 101,314 square-foot multi-tenant retail center situated on 7.04 acres in Cheyenne, Wyoming. With this acquisition, Alturas Capital Partner’s portfolio now exceeds 4 million square feet across the Western United States. 

Pershing Plaza marks Alturas Capital Partners’ second multi-tenant retail asset in Wyoming, underscoring the company’s continued commitment to expanding its portfolio across the region. The property features a diverse tenant mix that provides stable in-place cash flow. Located along East Pershing Boulevard, Pershing Plaza benefits from strong visibility and accessibility, with planned residential development to the south, further enhancing its position as a well-located asset within the community. 

The Cheyenne market demonstrates strength with a retail vacancy rate of just 3% and unemployment near 3.5% in a metropolitan area of approximately 102,000 residents. These factors continue to support robust retail performance citywide, laying a solid foundation for Pershing Plaza’s long-term growth and success. 

Pershing Plaza is currently 100% occupied, anchored by Gold’s Gym and Capitol Cinema, as well as the highly popular The Office Bar and Grill. The remainder of the center is leased to strong local operators, many with more than a decade of history at the property. 

The acquisition was facilitated by Lew Goldman and Matt Ryden of Goldman | Ryden Real Estate Investment Services, whose collaboration with ACP was instrumental in reaching a successful closing. ACP also worked closely with its lender partner, Hillcrest Bank, to complete the purchase smoothly. 

“Pershing Plaza reflects our commitment to building a strong portfolio in markets with resilient fundamentals. Cheyenne’s healthy economy and strong tenant base make this acquisition a perfect fit for our long-term strategy,” said Joshua Utke, Director of Acquisitions at Alturas Capital Partners. 

Brokers with potential acquisitions in the Intermountain West region are encouraged to connect with Alturas Capital Partners to discuss collaboration. For inquiries, please contact Joshua Utke at joshuautke@alturas.com.