Neenan plans three office buildings on the site. One is a two-story, 86,000-sf building. The other two would have 84,000 sf and also be two stories. The three buildings will have large, open floor plates, extensive conduit systems for telecommunications and about six parking spaces for every 1,000 sf. Lease rates for the 86,000-sf building are projected to be $15 per sf to $16 per sf, triple net.
The location along Interstate 25, across from the US Air Force Academy, provides a postcard perfect view of the Rampart Mountain Range. The 400-acre InterQuest Corporate Center had been developed by the Schuck Corp. of Colorado Springs in the late 1990s. Since then, it has attracted corporations such as Lockheed Martin, 3M, Mitsui. Pikes Peak Community College also has a large presence there.
Neenan's first phase of development at InterQuest had been a four-building, $30-million office complex totaling 280,000 sf. Ford Motor Credit Co. is a major tenant for two of the buildings, taking 167,000 sf. Ford's buildings are linked by walkways on each floor and are designed to accommodate multiple tenants in the future.
The other two buildings in the first phase, totaling more than 113,000 sf had been completed as speculative office space and are already nearly half leased. Tenants include URS Corp., DSSI and Ineto.
"While the Denver Metro area might be experiencing a lesser demand for office space, there is still a high need in the Colorado Springs' area," says Jarrod Daddis of the Neenan Co. "InterQuest is providing a tremendous opportunity to companies looking for high-quality office space in a burgeoning area. We are very positive about InterQuest and Colorado Springs." With the most recent 21-acre purchase, Neenan owns 45 acres in the park.
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