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Feb. 13, 2013

Newalta Corp. Leases Office Space at 1801 California Street; Corporate Center at InterQuest Falls into Foreclosure

By Gabriel Circiog, Associate Editor

Canada-based industrial services company Newalta Corp. has leased a floor in the 1801 California Street high-rise in downtown Denver, The Denver Business Journal reports. The company is set to open its first Colorado office in the building, which was previously the home of Qwest Communications International and now includes offices of CenturyLink Inc., which acquired Qwest.

The 54-story skyscraper located at 1801 California St. features 1.3 million square feet of office space and is owned by Brookfield Office Properties. Built in 1983, the office tower was designed by Metz, Train & Youngren. The property is situated in Denver’s central business district within two blocks of the 16th Street Mall and close to the Colorado Convention Center and Denver Pavilions. It is surrounded by upscale retail, nightlife and dining options.

Since it took over the master lease in July, Brookfield Office Properties has been investing in capital improvements at 1801 California. The improvements include the renovation of the lobby and plaza, elevator modernization and addition of a tenant conference facility and fitness center with showers and lockers. Brookfield, a subsidiary of Toronto-based Brookfield Asset Management Inc., paid $215 million for the skyscraper in December 2011.

In other local real estate news, The Gazette reports the 168,800-square-foot Corporate Center at InterQuest is the latest high-profile commercial property to fall into foreclosure. The owners of the two-building office complex, located at 9910 and 9930 Federal Drive on Colorado Springs’ north side, were hit with an $8.6 million foreclosure notice.

The property is one of the largest office properties in the Springs area in terms of square footage to have been served with a foreclosure notice in recent years, according to El Paso Country Public Trustee’s Office records, quoted by the same source.

For more regional news from Denver-Colorado Springs, click here.

Photo Courtesy of: www.brookfieldofficeproperties.com

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