Recent announcements by General Motors and Chrysler to end relationships with hundreds of dealers nationwide will lead to more closings in metro Atlanta, adding to acres of already abandoned property, reports the Atlanta Journal-Constitution. A number of independent dealers have shut their doors, along with large dealerships such as Bill Heard Chevrolet, which closed all 14 of its locations last September.
"I think we're nearing the peak of the amount of available dealerships," says Nelson Kramer, vice president of CB Richard Ellis in Atlanta, which lists about a dozen automotive properties in its inventory and has sold five dealership properties over the past year.
Most dealerships are on lots of three to eight acres and are ideal for other dealerships, retail, mixed used and office space, Kramer says. He adds that they are in "excellent locations" that are highly visible in well-traveled areas.
Click here to read the full report by the Atlanta Journal-Constitution.
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