Former Intel location gets first tenant

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Corporate Ridge Office and Technology Center – the former 1.4-million-square-foot Intel campus – appears to have found its first tenant.

Several dozen workers – welders, carpenters and other subcontractors – were busy today converting the former manufacturing site into space for Everest College, a division of Corinthian Colleges.

“Almost every room had 25-inch pipe going through it so we’re removing it for the college — Everest College,” one welder said.

A rumored 70,000-square-foot lease has been negotiated, though the owner of the building, Los Angeles-based IRG, has so far declined to comment.

The building has sat vacant since early 2008, after Intel closed its operations.

In February, IRG said prospects for the facility were strong – and that they expected to have it 70 percent leased within three years.

IRG purchased the campus last fall for $15.1 million. The company specializes in what is known as adaptive reuse and historic preservation. It owns more than 70 million square feet of commercial property throughout the country.

IRG wasted no time in getting word out to prospective tenants, both national and local.

“We anticipate that a good portion of our tenants will come from local companies who already have a presence here, but just want to expand or add a new division,” IRG’s Bruce Haas told the Business Journal last month.

In marketing the site, IRG has met with the University of Colorado at Colorado Springs, among others.

The tenant improvements currently under way are taking place in Building 1 on the four-building campus, originally built in 1999 as a chip fabrication plant by Rockwell.

The property was eventually bought by Intel, which spent almost $600 million on expansion and facility upgrades in 2004 and 2005.

Signs of distress hit Intel in 2006. Two years later, the plant closed, forcing the layoff or reassignment of more than 800 employees. Until this year, the plant remained vacant, representing one of the grimmer illustrations of the Great Recession and its impact on the region’s economy.
Officials at IRG and Corinthian Colleges could not be immediately reached.

Check back to csbj.com for updates.

3 Responses to Former Intel location gets first tenant

  1. Great that we’ll have local companies relocating to the new site on GoG….breath of air for the corridor. How about talking to the federal government about reusing much of the space for datacenter operations, operations centers…….Utah just secured a government datacenter project worth $1B, supposedly will create 2,000-3,000 direct jobs, let along the additional jobs from defense contractors and other support organizations to this facility…..imagine if the EDC actually worked for the city and actually worked clients OUTSIDE of Colorado Springs….imagine….’smack’ I’m back to reality.

    Ken G
    March 17, 2010 at 2:29 pm

  2. Has anyone thought of making a data center for all the hospitals and doctors who are supposed to participate in it? I assume this may be part of the Health Care bill, but who cares. There’s plenty of work to be done I’m sure to make all items into a commmon format, and storage and retrieval system. Everyone needs to have information on their patients should someone have to go from Memorial to Health South or Penrose,, or even to LA. I think that’s another area that the EDC could get out of town and see what’s going on.

    Eugene Finkelstein
    March 17, 2010 at 2:47 pm

  3. Be thankful what you can get. As a former participant in the EDC, I was always frustrated because the city government and the state of Colorado were so enamored with our location that they wouldn’t make any concessions. So, they kept their pride but lost the high tech industry in Colorado Springs. At one point, we were promoting this as Silicon Mountain, the Rockys answer to Silicon Valley. Now, with their policies, we can call it High Tech Desert.

    jocko
    March 17, 2010 at 4:28 pm