JV Picks up Colorado Springs Acreage for $13 Mil.

Nor'wod Development, Bethesda Management close one the largest local land sales this year.

By John Rebchook | Updated on July 28, 2000

DENVER—Nor’wod Development Group and Bethesda Management Group, two Colorado Springs development companies, have formed a joint venture that paid $13 million for 130 acres in Northern Colorado Springs in the InterQuest business park.

It was one of the largest land deals in the Springs this year, says Bill Schuck, developer of the 400-acre InterQuest, which is located across Interstate 25 from the US Air Force Academy. The Schuck Corp., also based in Colorado Springs, sold the land, which will be developed and marketed by Nor’wood and Bethesda. InterQuest tenants include Quantum Corp., Mitsui, Lockheed Martin, 3M, Ford Microelectronics and First Banks of Colorado.

In addition, the Neenan Co., a Ft. Collins, CO-based general contractor, is developing a $30-million, seven-building project on 24 acres. Two of the buildings, with a total of 167,000 sf, have been leased by Ford Credit.

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