Last week's GlobeSt.com Quick Poll asked readers what theythought was the best solution for the failing American auto makers.A total of 80% of voters responded that a Chapter 11 restructurewould be the best conclusion, while 17% voted for a Fed loan andonly 3% for a Fed bailout. Readers got their wish when the USSenate blocked the $14 billion bailout effort passed by the Houselast week. Michael Fay, president of Coral Gables-based ColliersAbood Wood-Fay, is an expert on the implications the auto industrycrisis has had on real estate. He tells GlobeSt.com about hisexperience through the firm's four-year-old automotive real estateservices group, which has been facilitating dealership transactionsthroughout the state.

"From what we see, there is now a consolidation marketplace.Dealers are putting more brands of cars on one lot than they werebefore. For example Chrysler, Jeep and Dodge will now be run out ofone dealership instead of three. Excess real estate from closeddealerships will be put on the market, most of which are located inphenomenal sites that have never become available before, and canbe used for retail, mixed-use projects or even offices.

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