MENU
SEARCHAdjacent property is sold to facilitate the transaction.
Former Metro Volkswagen in Irving, Texas, to continue operating.
IMAGE: Henry S. Miller Brokerage
Lucky Property One LLC, a local commercial property investor, recently bought more than nine and a half acres along Airport Freeway, Story Road and Ferguson Court that includes the former Metro Volkswagen dealership.
Plans are for the facility to continue automotive operations under Bayshore Group Inc. and Sam Juma’s Auto Haus Imports.
The property includes more than 63,000 square feet of related automotive facilities.
In conjunction with the transaction, Group 1 Realty also sold an adjacent two-plus acres of unimproved land to Bayshore Group.
Bill Bledsoe, senior vice president in the Land and Investments Division at Henry S. Miller Brokerage, represented Lucky Property One. Bill de la Chapelle and Sharon Cramer with Rubicon Representation represented the seller, Group 1 Realty, Inc. of Houston.
According to Bledsoe, the Mid-Cities markets, and especially Irving, has experienced significant growth since 2018. Automotive operators, both retail dealers and service and body shops, have been active in their searches for new locations and enhanced facilities to accommodate growth of their local operations.
Originally posted on Auto Dealer Today
Conversion rates were flat last week at 63%, Black Book analysts calculated, as low-mileage and almost-near units outpaced the overall market.
Read More →
Trade relations between the European Union and the U.S. are at risk, causing the European Automobile Manufacturers Association to push lawmakers to make a decision.
Read More →
Understanding the risks and benefits of retail accounting and Super CFCs can help you better present options to your dealer partners.
Read More →
China easily reigns in the segment, but European countries’ adoption rates are growing. The U.S., probably due to market size, has the second biggest EV fleet.
Read More →
The full-size pickup segment, which has been dominant in the U.S., ended 11 consecutive weeks of gains with a slight dip last week.
Read More →
Wholesale auto conversion rates dropped slightly as auction buyers proved picky last week, analysts observed.
Read More →
Fast charging of electric vehicles provides a solution for range anxiety, but it also poses a risk to battery cycle life due to increased temperatures, according to an EV supply chain data provider.
Read More →
Expanding Midwest automotive group picks up three stores as part of the robust transaction activity early this year.
Read More →
Cox Automotive data shows Americans doubled down on big-is-better despite price increases. Slightly higher incentives helped fuel the demand.
Read More →
The automaker says its movement of some electric-vehicle work to the S.C. factory is part of a more tailored product focus. It also plans to add a new hybrid model to the plant’s itinerary.
Read More →