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ICG Gets Court OK To Sell Building

DENVER-Bankrupt ICG Communications gets permission to sell its former headquarters in Douglas County for $3.7 million. Thanks to a rising real estate market, it will make an undisclosed profit on the sale.

By John Rebchook | Updated on September 14, 2001

DENVER-ICG Communications, the local telecom giant that filed for bankruptcy reorganization last November, has asked the court for permission it to sell its former headquarters in Douglas County for $3.7 million. ICG, which lost $2.5 billion last year, hopes to sell the 30,000-sf building to the engineering giant CH2M Hill Inc.

The deal is expected to close in October and ICG will make a profit on the sale, says ICG spokeswoman Susan Koehler, although she declined to say how much.

“As you know the real estate market has risen dramatically in the past few years,” Koehler tells GlobeSt.com.

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