The mostly vacant Rustic Hills North shopping center in Colorado Springs will be transformed into an industrial commerce center — a change that’s expected to help inject new life into the Academy Boulevard corridor.
Brennan Investment Group of suburban Chicago, a privately owned firm that acquires, develops and operates industrial facilities nationwide, paid $7 million last month to purchase the 22-acre Rustic Hills North, northeast of Academy and Palmer Park boulevards.
Built in the early 1970s, Rustic Hills North was once a thriving retail center and home to popular stores and businesses such as Albertsons and Longs Drugs that served east-side residents and neighborhoods.
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