Search
 

Neenan Land Buy Fueling 256,000-SF Project

COLORADO SPRINGS, CO-The Neenan Co., no newcomer to Colorado Springs, is prepping for a 256,000-sf project. The estimated $25-million undertaking is made possible by a recent 21-acre land buy.

By John Rebchook | Updated on April 09, 2001

COLORADO SPRINGS, CO-The Neenan Co. has purchased 21 acres at the InterQuest Corporate Center across from the US Air Force Base in northern El Paso County. The Ft. Collins-based construction, development and design company plans to build three buildings, totaling 256,000 sf, on the Colorado Springs land. Some pre-leasing will be required before construction begins. The two-story 86,000-sf building and two, two-story 84,000-sf structures would have an estimated completed value of about $25 million. Lease rates in its new buildings will be $15 per sf to $16 per sf, before expenses such as taxes and maintenance fees.

Earlier, Neenan had developed a $30-million, 280,000-sf four-building complex on 24 acres. Ford Motor Credit Co. is a major tenant in the first phase.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.