COLORADO SPRINGS – CBRE announced today, on behalf of Westside Investment Partners, Inc., that $3.5 million in capital improvements will be completed on one of the region’s prime office properties — 2424 Garden of the Gods Road in Colorado Springs. Upon its reopening, the former regional headquarters for MCI/Verizon will offer the largest block of office space currently available in the state of Colorado.
In August 2016, Verizon sold the property to Westside in one of Colorado Springs’ largest real estate deals of the year, facilitated by CBRE Capital Markets. As part of the sale, Verizon signed a long-term commitment to remain in approximately 80,000-square-feet of the property, and the company still has new product development, corporate services, wireless services and Verizon wireline services on site.
“As the former home of MCI/Verizon, this facility was state of the art to start. Yet Westside was deliberate in selecting strategic property enhancements that now position 2424 Garden of the
Gods within the upper echelon of all Colorado office assets,” said Randal Miller, vice president, CBRE.
Notable for its location immediately adjacent to National Natural Landmark Garden of the Gods Park, the campus totals 683,000-square-feet with approximately 450,000-square-feet of office space now available for lease, the largest space currently available across the Front Range and the State of Colorado. The only other property that can offer more than 300,000-square-feet of contiguous office space is a new high-rise under construction in downtown Denver.
“Surrounded by stunning views of the Rocky Mountains and with Garden of the Gods right outside the front door, there is truly nothing like this property anywhere in the world,” said Steve Kohls, vice president with CBRE in Colorado Springs, who is leading leasing efforts for the space along with Randal Miller of CBRE. “When you factor in the high-tech office space, irreplaceable natural setting and outdoor amenities, brand new interior amenities and office lease rates that are less than half what is found in downtown Denver, this property has the real potential to draw a top-tier employer and several thousand jobs to Colorado Springs.”
Built in 1983, the campus is a U-shaped design with a middle courtyard that opens directly onto Garden of the Gods Park. The sprawling 120-acre site features large patio and outdoor spaces as well as direct access to walking, hiking and biking trails. The building architecture includes expansive glass line and natural sandstone detail. Floor plate sizes are varied, with some of the larger spaces offering private balconies.
To be unveiled at a Grand Re-opening event on Sept. 21, 2017, Westside invested $3.5 million in renovations designed to draw attention to the property’s distinctive features and deliver on what today’s top talent is seeking in a workplace.
“Before you even step foot into a building on this campus, you understand what makes 2424 Garden of the Gods so special. With access to America’s favorite park just steps away, it’s the
epitome of the work-live- play lifestyle that has put Colorado and Colorado Springs on the radar of companies nationwide,” said Andrew Klein, principal, Westside Investment Partners. “With this inmind, we focused on improvements that embraced a healthy lifestyle, integrated technology and modernized the workspaces, creating a place that feels like much more than an office.”
New amenities included in the $3.5 million improvements include a yoga and fitness studio with lockers and showers, a renovated café and new outdoor BBQ areas. In terms of technology, campus-wide Wi-Fi is now available throughout the property, and the renovated lobby and atrium include a high-tech/interactive media wall. Westside also added a 250-person auditorium and an executive conference center. Community work environments were also incorporated throughout the space.
“Here in Colorado Springs we have seen impressive year-over- year population, job and economic growth, with talent and companies relocating from all over the country to take advantage of our lower cost of living, higher quality of life and skilled labor pool,” said Colorado Springs Mayor John Suthers. “In looking at all that 2424 Garden of the Gods has to offer in terms of surroundings,workspace and affordability, it’s clear that for a company who wants to offer its employees the true Colorado lifestyle, it doesn’t get any better than this.”
Image courtesy of CBRE