FORT LAUDERDALE, FL—Holman Automotive snapped up 5.7 acres of land in Fort Lauderdale for $5.6 million. Causeway Lumber Company sold the property.
Berger Commercial Realty senior vice president Steve Hyatt represented Holman. Holman is the ninth largest automotive dealership group in the United States by revenue according to Ward's Dealer Business.
Holman plans to develop the site into a major new service facility for BMW and MINI. Located at 2627 South Andrews Avenue, the property currently serves as a retail showroom for Causeway Lumber Company. The lumber company is moving to a nearby location.
"Automotive franchise laws and regulations regarding the establishment or relocation of a dealership are very complex," says Hyatt. "This property met the needs of Holman Automotive and we were able to negotiate a valuable deal for both parties."
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.