The property was on and off market for approximately five years due to the environmental challenges that existed from past industrial operations. The property was previously used to manufacture semiconductors and related products and services. IRG’s business plan included administratively managing the current liabilities at the site with regulatory oversight, preparing demolition bids including materials management and preparing property reuse plans which included up to 300,000 square feet of industrial flex space.
Once the challenges at the site were resolved, IRG marketed the site for sale “as is where is” with Cushman and Wakefield. The property was sold to a local Denver, Colorado developer and closed on June 4, 2015.
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