Tuesday, July 9, 2013

Colliers Automotive Services Group Sells Lehman Toyota Site in Miami Lakes, FL


Lehman Toyota Car Dealership, 19100 and 19200 NW Second Avenue
Miami Lakes, FL



MIAMI, FL, July 9, 2013 - Colliers International South Florida is pleased to announce the sale of the Lehman Toyota car dealership located at 19100 and 19200 NW Second Avenue in Miami Lakes, FL.

Michael T. Fay
Michael T. Fay, Chairman-Founding Partner of Colliers International South Florida, and Xavier Cossard, National Director of the Colliers Automotive Retail Services (CARS) Group, represented the seller, Kimco Autofund, LP in the transaction. The 134,165-square-foot site was sold to buyer Racetrac Petroleum, Inc. for nearly $3 million.

"This transaction involves a user serving as a developer to gain market share," says Cossard. "Despite only needing approximately two acres to build a gas station, RaceTrac went ahead and purchased the three-acre site, and will ultimately spin-off the surplus acre to another user to complement their site."

Xavier Cossard
Colliers Automotive Retail Services has completed a number of transactions on behalf of the seller over the past 10 years.

Most recently, Fay and Cossard represented Kimco in the sale of a second parcel that is part of the same Lehman Toyota, located across the street at 19390 NW Second Avenue, Miami Gardens. That parcel, housing a 38,074-square-foot dealership, sold for $2.25 million to a used auto dealer.


Lehman Toyota car dealership
19390 NW Second Ave., Miami Lakes, FL
Colliers Automotive Retail Services is a national group within Colliers International led by Fay and Cossard from South Florida.

The only major full-service real estate firm with a specialty practice dedicated to auto dealerships, this group has generated over $500 million in transactions since its inception in 2004.

Specific services include advisory, valuation, demand analysis, site acquisitions or dispositions, relocations, transaction management, capital markets and global corporate services.

For a complete copy of the company’s news release, please contact:

Crystal Proenza
Vice President of Marketing
Colliers International South Florida
Commercial Real Estate Services
Tel: 305 476 7138



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