Texas VW Dealership Sold to Local Investor
Adjacent property is sold to facilitate the transaction.
Former Metro Volkswagen in Irving, Texas, to continue operating.
IMAGE: Henry S. Miller Brokerage
Lucky Property One LLC, a local commercial property investor, recently bought more than nine and a half acres along Airport Freeway, Story Road and Ferguson Court that includes the former Metro Volkswagen dealership.
Plans are for the facility to continue automotive operations under Bayshore Group Inc. and Sam Juma’s Auto Haus Imports.
The property includes more than 63,000 square feet of related automotive facilities.
In conjunction with the transaction, Group 1 Realty also sold an adjacent two-plus acres of unimproved land to Bayshore Group.
Bill Bledsoe, senior vice president in the Land and Investments Division at Henry S. Miller Brokerage, represented Lucky Property One. Bill de la Chapelle and Sharon Cramer with Rubicon Representation represented the seller, Group 1 Realty, Inc. of Houston.
According to Bledsoe, the Mid-Cities markets, and especially Irving, has experienced significant growth since 2018. Automotive operators, both retail dealers and service and body shops, have been active in their searches for new locations and enhanced facilities to accommodate growth of their local operations.
Originally posted on Auto Dealer Today
More Industry
Penske Auto Group Deal a Record
The deal to take the dealership and transportation services company private sets a new pace for industry buy-sell transactions.
Read More →
War Toll a Damper on Used Auto Prices
Cox Automotive found wholesale depreciation to be elevated in September amid high fuel prices and this year's unusual hurricane season.
Read More →
Bridge the Maintenance Gap
With many drivers missing recommended maintenance, service departments offering transparency and efficiency have a better chance of reaching financially strained consumers.
Read More →
California Store Has New Owner
The longtime dealership in the northern part of the state is known for robust fleet sales and has served the state capital for 115 years.
Read More →
BMW Plant Pursues Cleaner Energy
BMW Group Plant Leipzig has utilized hydrogen to help power its production since 2013, but a new pipeline is planned to take it to another level.
Read More →
Auto Affordability Inches Up
The latest Cox Automotive and Moody’s Analytics index shows a slight increase in new-vehicle affordability despite high prices.
Read More →
Ohio Auto Group Under New Ownership
After 79 years with the Schluter family, Mansfield Auto Group has been acquired by Missouri-based Clement Auto Group.
Read More →
RV Group Expands Carolina Footprint
Blue Compass RV Columbia Northeast is the 13th RV dealership owned by Blue Compass in the Carolinas.
Read More →
Agent Acumen
An Agent Summit panel of people who’ve been supporting auto dealers for years gave both timely and timeless advice for those starting out or mulling the prospect.
Read More →
Missed Maintenance Creates Opportunity
As families get back on the road and into daily school routines, service drives have an opportunity to capture customers who are behind on recommended vehicle maintenance.
Read More →