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El Paso County building sale plans face a tough market

Now that El Paso County has decided to move into the old Intel site, the question is what will happen to some of the buildings it owns or leases. County officials reviewed dozens of options, including the former Macy’s at The Citadel mall, before opting to move into more than 200,000 square feet at the… Continue Reading El Paso County building sale plans face a tough market

Last week, the El Paso County Commissioners voted to buy parts of the former Intel facility at Corporate Ridge on Garden of the Gods Road. They plan to move most service-oriented county offices there in September. While aspects of this purchase are excellent, too little attention has been paid to the site selected and to… Continue Reading County’s planned move to Intel needs refining

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The financing package created by the county to fund the purchase of part of the former Intel campus may carry some risks not normally associated with municipal bond issues. The $49.5 million deal will be financed in part by Build America bonds, which were authorized by the Obama administration in 2009. Unlike most municipally issued… Continue Reading Build America bonds draw IRS scrutiny

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Everest College’s online division, which just announced plans to move into the former Intel Building, could soon be joined by an additional tenant – El Paso County. Faced with overcrowding and a $300 million facilities projects backlog, El Paso County officials have been scouring the city in hopes of finding attractive lease rates and newer buildings to… Continue Reading County shopping around for space at Intel building

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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… Continue Reading Former Intel location gets first tenant

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The new buyer of the former Intel building says prospects for the 1.4 million-square-foot facility are strong – and he expects to have it 70 percent leased within three years. Known as the company’s “Houdini deal maker,” Bruce Haas says the commercial real estate market is alive and well. The senior vice president for Industrial… Continue Reading Upbeat developer sees near-term turnaround for former Intel facility

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It’s official. 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… Continue Reading Intel sells to California investor

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