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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.
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| 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."
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| 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.
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| 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
Email: crystal.proenza@colliers.com
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