Monday, December 17, 2007

Intel closing will hurt industrial real estate market

A 2008 real estate forecast by Sierra Commercial Real Estate of Colorado Springs suggests the city's industrial market will have a tough go next year. A housing slowdown means building supply companies and heating and cooling businesses, for example, won't need as much space. A loss of manufacturing jobs also will result in less demand for industrial buildings. Intel Corp.'s closing of its 1.4 million-square-foot chipmaking plant on the Springs’ northwest side won't help, either. Finding a buyer will be difficult because it will be costly to remodel the sophisticated plant, said Dave Bacon, a Sierra managing director and industrial specialist. Yet, having the plant available if a major employer comes to town is a positive for the Springs, said Sierra President Dave Delich.

1 comment:

Jariah R. Walker said...

I certainly hope that this building will get occupied by another business. Though the manufacturing industry has been slowly creeping overseas it still is sad to see such a wonderful building put to waste.