The redevelopment of Rustic Hills Commerce Center in Colorado Springs, Colorado, answered a question that many locals had been wondering for years: What would be the fate of those old big-box retail buildings at Rustic Hills?
Brennan Investment Group answered that question while still honoring the history of the center as it transformed the property into something new. The once vacant location has earned a 2025 CoStar Impact Award for redevelopment of the year, as judged by real estate professionals familiar with the market.
The redevelopment added value to a vacant location, with the improvements benefitting the community, said judge Christian Lauter, client services manager for Greystar Real Estate Partners.
Centrally located, Rustic Hills Commerce Center offers mixed-use light industrial space to the Colorado Springs industrial market with tenants DashMart, Mallory Safety & Supply, Utz Snacks, Universal Cycles and Metal Supermarkets.
The property features professional management, high visibility, convenient access, high passenger vehicle ratio, truck parking, multiple loading and building signage. It is also within the Pikes Peak Enterprise Zone.
About the project: Completed in 2024 on an 18-acre lot, Rustic Hills Commerce Center is professionally managed by Dunton Commercial.
What the judges said: Austin Wilson-Bradley, director of economic development, Colorado Springs Downtown Development Authority, said the area of Colorado Springs had not historically seen significant investment or redevelopment and that the project took a risk in a much-needed area.
They made it happen: Senior Managing Director Aaron Horn and Director Heather Mauro-McKeen of Cushman & Wakefield Colorado Springs Commercial were landlord representatives for the project.