Business Buzz: Downtown building has new owner
July 5, 2015
The former First National Bank building, located on 502 Yampa Ave., has recently changed ownership. The new owner, based out of Arizona, purchased the historic building, which has been the home to businesses and offices since 1917. Eric Tegl, manager of the building and its spaces, says that an out-of-state owner is a positive sign.
"At a time of doubt, here's a guy willing to invest in the community," he said.
Tegl is optimistic that the new owner will promote the building's success.
"We're hoping to get some interest and want this to be a positive ownership exchange," he said.
Tegl manages other buildings in Craig such as the Centennial Mall. He plans to renovate the building and re-brand its image. Most of the renovations will be on the exterior.
"We are going to power wash the entire building and give it some necessary upgrades. We are also replacing the awnings, something else that needed to be done," Tegl said.
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Already, the new owner is showing that he'll be doing business differently. Tegl pointed out the building's new affordability and flexibility.
"We want to provide what people want," he said.
This includes the willingness to remodel spaces to tenants' speculations. The new owner is very open to creative ideas from new or established businesses. Rates under the new ownership are also uncommonly low. The office spaces are priced as low as $200 per month, including utilities.
"The rates are far below what others are asking," Tegl said. "The idea is can we save people money."
Savings also come in the form of military and veteran discounts, as well as discounts for non-profit organizations looking to fill spaces.
Current tenants and nearby business owners are equally excited about the ownership exchange.
"I can't wait to see what businesses they'll bring in," said Clint Gabbert, owner of The Jungle Pet Shop.
Leasing as many spaces as possible to the right people is something Tegl seems the most determined to do. The 12,500 square foot building includes four business spaces and 14 office spaces, meaning there is a lot of potential for future business growth in the downtown area.
"We aren't driven off rates. We are driven off occupancy," Tegl said.
DBA is looking for participants for its Upcycle contest
Craig's Downtown Business Association is planning another Upcycle contest where community members create new items from recycled material.
The DBA seeks teams of two to five people or business groups to compete in this year's contest, which will commence Sept. 19 at Alice Pleasant Park along Yampa Avenue.
There are two parts to the Upcycle contests — one where participants can enter an item they made out of recycled material, and the other is a team competition called the Junque Box Build off where teams will have 90 minutes to make something out of a pile of miscellaneous items.
Teams have to pay a $5 entry fee as do those who want to enter a recycled item. Prizes — including a $100 gift certificate — will be awarded to winners.
To enter the contest, contact Karen Brown at the Community Budget Center at 970-824-7898.