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ORLANDO, FL (March 15, 2012) – In an unusual case where an auto dealership property was purchased for its existing use, Colliers International Central Florida recently closed the sale of 53,662 square feet of enclosed space and 8,536 square feet of open covered space on 10.96 acres for $2,172,205.
Expanding Evolution Auto will move into the property at 2925 N Hwy 17-92 in Longwood, Fla., which was formerly occupied by David Maus Toyota.
Director Bill Parke (middle right photo), SIOR of Colliers International Central Florida represented the seller, FLTVT Dealership Property LLC, which owns numerous auto dealerships in Central Florida and nationally.
Director Sher Tolan (middle left photo) of Southern Commercial Real Estate represented the buyer, Ramy Properties.
The property includes four buildings, designed for showroom/office, service parts, body shop and used car office. The lighted parking lot can accommodate approximately 500 vehicles, and the property has excellent visibility and direct access from US 17-92.
David Maus Toyota, which previously occupied the Longwood property, moved to a larger site on Rinehart Road in Sanford.
“Finding a buyer for a vacant auto dealership in these challenging times is difficult because there are fewer auto dealers today than there were, say, four years ago,” said Parke. “It worked out well here that Evolution Auto was looking to expand and was interested in the property.”
“This location is a great fit for Evolution Auto,” said Sameer Asfoor (lower right photo), president of Evolution Auto. “We have great frontage on the road and find the area’s high density appealing. It allows us the long-term sustainability that we need to support our expansion plans.”
Contact:
Noelle Anderson, APR
Principal & President
True Blue Communications
813.380.0314
Noelle@truebluetampa.com Evolution Auto’s long-term plans include creating a service center to recondition incoming inventory before it is sent out to satellite locations for retail sale, setting up a dedicated auction area for non-retail units, and opening a café with offerings beyond most auto dealerships’ typical coffee or sandwich bars.
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