COLORADO SPRINGS—A two-building office facility on the city's far north side is the latest high-profile commercial property failure in the area.
Owners of the nearly 168,000-square-foot Corporate Center at InterQuest, were served with an $8.6 million foreclosure notice last week, according to a report in the Colorado Spring Gazette.
The overall metro area's office vacancy rate was 14.5 percent in the fourth quarter of last year, or about double from late 2006, according to paper, which cited Turner Commercial Research of Colorado Springs. But the fourth quarter vacancy rate was 21.4 percent for Class A office properties such as the Corporate Center at InterQuest.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
