Industrial Realty Group Buys Intel Plant in Colorado

0

A Los Angeles company that specializes in redeveloping corporate real estate has bought Intel Corp.’s now-closed Colorado Springs computer-chip manufacturing plant and put it on the market for sale or lease, a broker who is marketing the property said Friday.

Industrial Realty Group, which buys distressed corporate real estate and converts the properties for lease to multiple tenants, bought the 1.4-million-square-foot plant at 1575 Garden of the Gods Road for an undisclosed price, said Michael Palmer of Grubb & Ellis/Quantum Commercial Group in the Springs.

Intel laid off most of its remaining 110 employees this year and vacated the property in June; production ended at the plant nearly two years ago.

Palmer said Industrial Realty Group is in preliminary lease negotiations with two potential tenants.

• Read the full Denver Post story.

No posts to display