The 1.2 million-square-foot Intel building has sold to Industrial Realty Group of Los Angeles. The transaction closed yesterday, Intel spokesman Bill MacKenzie said.
“The sale is bittersweet,” he said, “because while it is good that we found a new owner for the site, the sale reminds me of the terrific relationship Intel had with Colorado Springs from the earliest days.”
Michael Palmer of Grubb & Ellis Quantum Commercial Group will serve as the property’s sales and leasing broker.
While he declined to disclose the selling price at the request of the new owner, he did indicate that there has been “significant interest in the building so far and that he is in the process of negotiating a couple of large lease transactions.
“It’s nice the property is finally in the hands of a motivated developer and investor. It’s a top of the line facility with massive infrastructure, which creates a tremendous job creation opportunity for the City of Colorado Springs,” he said.