Zach Spencer’s wife was not excited about the idea of buying the old Red Hanger building on 29th and Washington. It wasn’t like some of the other old buildings in Ogden that people were inspired to resurrect. It didn’t have any cool exposed brick or original hardwood floors. It wasn’t really architecturally significant, and the vintage charm of the original building had faded. As a result, the building sat empty for years.

What the building did have was ample square footage, an adjacent lot that could be developed, a billboard that could generate passive income, a vintage sign that still spins, and, perhaps most important, an owner that wanted to see someone breathe some new life into it rather than demolish it. Tom knew that there was a good opportunity hidden in this building.

We did a napkin sketch of what we thought could be done with the building, and how we thought it could be updated. We were surprised by one person’s reaction, in particular. Zach forwarded the sketch to his wife and asked for her initial thoughts. Her reply was simply, “Obsessed.”

After months of research and due diligence, the deal closed last week. It’s always nice to close deals, but it’s particularly satisfying when you feel like you helped give a building a new lease on life. Congratulations, Zach. We can’t wait for the open house on the roof deck.