Wally McCarthy has agreed to sell his Oldsmobile dealership in Richfield to Key Cadillac in Edina, MN. The 40-year-old dealership will close in mid-October.

McCarthy agreed to sell the six-acre site where the franchise sits on Penn Ave. and I-494 to Minnetonka, MN-based Opus Corp., which is developing a corporate headquarters campus in the area for Best Buy, the consumer electronics retailer. McCarthy said he is looking to buy another dealership in town for his 100 employees at the Oldsmobile dealership. If he doesn’t find another franchise, the employees will be offered jobs at either Key Cadillac or one of McCarthy’s other car franchises in the Twin Cities.

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