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A longtime Colorado Springs-based business has been sold to a Denver buyer.
Reilly Buick-GMC Inc., family-owned for 77 years, was sold for an undisclosed sum on Tuesday to Mike Shaw, who owns a large automotive dealership - Mike Shaw Buick-Chevy-Saab in Denver.
Jim Reilly Jr., former co-owner, said his family's reasons for selling the business were "professional and personal, and just an accumulation of things." He declined to discuss the specifics of those things, but said he's a little sad seeing the business transfer to someone outside the family.
"That kind of hit me in-between the eyes this morning," Reilly said. He added that Shaw asked turn to stay with the dealership, but Reilly said he's still debating that.
"But it was the best thing for our family, our dealership, the employees and the customers," Reilly said.
Reilly said Shaw plans to expand the business, as well as the 30,000square-foot retail space, which sits on four acres of property at 1313 Motor City...