"Our client sold this property to explore additional investment options," says Paul Montes, senior commercial broker with Oak Brook, IL-based Inland. "The purchaser recognizes the excellent location, and understands the growing opportunity for used car sales in the current economy. Aurora is a strong market, and this is one of the limited areas where they allow this use."
Montes, along with SVP Richard Kehoe and commercial sales associate Eric Spiess, represented Inland in the deal, while Julio Cortez represented the buyer.
"The auto industry is experiencing an historic upheaval which is being accelerated by the current economic downturn," Kehoe says. "We foresaw the changes in auto sales and proactively sought marketing solutions to provide alternative uses for dealership properties. This particular property was on the market for less than three months, while the average time on the market is now over a year. Our team understands the product, and we used targeted and proactive marketing strategies to reach our clients' goals."
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