The former headquarters of Wells Fargo (and the Wachovia headquarters before that) is now sitting on the brink of foreclosure after Vision Properties defaulted on their $157 million loan on the 42-story tower.
The iconic 301 S. College St. building dropped to about 50% vacancy after Wells Fargo decided to move their offices into several newer buildings around Uptown.
As of October 15, the One Wells Fargo building has been placed under receivership, according to court records, meaning a third party is now managing the property during the foreclosure process.
A similar situation happened 2 months ago in Denver after Morgan Stanley’s $327 million loan on the Wells Fargo Center also went into receivership.
The 52-story tower at 1700 Lincoln St. in downtown Denver is now 43% vacant after Wells Fargo and WeWork vacated a combined six floors.
