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| Steve Hyatt |
FORT LAUDERDALE, FL – Berger Commercial Realty announced
broker and Senior Vice President Steve Hyatt recently represented BD
& D Investment Company, LLC in the sale of
a 4.42-acre property, including a 34,000-square-foot automobile
dealership, in Bellevue, Wash., for $8,425,000 to Dog Walk, LLC.
The property is
currently occupied by Ford Lincoln of Bellevue and is leased to
AutoNation on a long-term basis.
A local
Seattle investor bought the property and plans to eventually develop it as the downtown central business district
expands," Hyatt said.
"The long-term development potential of this
property is exceptional due to its size, freeway exposure and its location in
the Bellevue central business district, near the corporate headquarters of
Microsoft, Google, T Mobile and Expedia."
Hyatt worked on the
transaction for more than three years with several different groups interested
in buying the property, including a group that proposed the development of a
new Bellevue arena, to house both NBA and NHL teams, on the site. He closed the
deal in partnership with Seattle brokerage firm AGM Inc.
Hyatt served as Vice
President of Corporate Development at
AutoNation from 1996 through 2008. BD & D Investment Company, LLC, a large
dealership group, has hired him to handle the disposition of several automotive
properties across the country, including the $6 million sale of a 7.2-acre
automotive dealership site in the Denver, Colo. area to CarMax Auto Superstores
in 2011.
Because of his
background at AutoNation, where he was responsible for the acquisition and
disposition of more than 175 automobile dealerships in 17 states, Hyatt
specializes in automotive real estate.
He currently represents several of the
largest dealership groups in South Florida, with brands including Audi, BMW, Chevrolet, Toyota and
Chrysler/Jeep/Dodge. He is active in investment sales and continues to work
with and meet the real estate needs of numerous automotive retailers and
original equipment manufacturers (OEMs) across the country.
Contact:
Marielle Sologuren
Pierson Grant Public Relations
(954) 776-1999, ext. 226
msologuren@piersongrant.com
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