COLORADO SPRINGS, Colo., Oct. 27, 2021 /PRNewswire/ -- Brennan Investment Group, a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States, has announced its acquisition of the Rustic Hills Shopping Center located at 1605 N. Academy Boulevard in Colorado Springs, Colorado. Consisting of 223,438 square feet on 23.30 acres, the site will be redeveloped into a light industrial logistics center to accommodate the needs of "last mile" delivery firms and industrial users that service the Colorado Springs MSA. Renovation work will commence in early 2022.
"Conversions from retail to industrial carry a higher level of difficulty. Apart from obtaining approvals from the local community, the location must be in the heart of the action to play an enduring role in last mile logistics. Second, the land size and building design needs to be highly functional with modern aesthetics added. Last, we need to acquire at a basis that enables us to offer good rental value to tenants" explained Brian Roach, Brennan's Managing Principal for Mountain West Region. "We have all that in the Rustic Hills acquisition".
Brennan's track record of value-add investing is enhanced by an ability to acquire, develop, and redevelop on a national scale. "Our mission is - and will always be - to uncover value using our long-standing relationships, market intelligence, and knowledge of tenant needs." remarked Michael Brennan, Chairman and Co-Founder of Brennan Investment Group.
Brennan acquires in both major markets and strong regional markets that exhibit expanding and improving demographics. The Colorado Springs market is in the top quartile for overall economic growth for US municipalities, demonstrating significant in-migration, new household formations, strong housing starts and a relatively low cost of living in comparison to other US cities.
About Brennan Investment Group
Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired over $4 billion in industrial real estate. The company's current portfolio spans 29 states and encompasses 44 million square feet.
Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The firm's management team is among the most accomplished in its industry, having invested in over 4,000 properties covering more than 60 cities throughout the United States, Canada and Europe.
For more information on Brennan Investment Group, go to brennanllc.com.
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SOURCE Brennan Investment Group, LLC