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| Rendering of planned MINI of Santa Monica, 1402 Santa Monica Boulevard, Santa Monica, CA |
Los Angeles, CA – Avison Young, the world’s fastest-growing
commercial real estate services firm, announced today the $7-million sale of a
half-acre land parcel in an off-market transaction for development of a MINI
car dealership.
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| Joseph Gabbaian |
The land parcel, which currently houses a gas station, will
become the new home of MINI of Santa Monica, a two-story state-of-the-art car
dealership dedicated to all things MINI.
Avison Young Principal Joseph Gabbaian, based in the
firm’s West Los Angeles office, represented the seller, Santa Monica, CA-based
SBZ Partnership, as well as the buyer, Q6 Real Estate, Inc., an affiliate of
Toronto, Canada-based The Quinn Automotive Group.
The land parcel is
located at 1402 Santa Monica Boulevard at the corner of 14th Street in
Santa Monica.
“The buyer had been
awarded a MINI dealership franchise in the area, so location was of paramount
importance,” comments Gabbaian. “The buyer intends to build a
33,700-square-foot dealership facility on the site.”
Q6 Real Estate is in
the process of securing permits for the dealership, which can take 12 to 18
months. Construction completion is slated for mid-2016.
“The acquisition of
this parcel was very complex and time-consuming; however, Joseph Gabbaian’s
dedication and commitment to the purchase and sale greatly simplified the
process,” notes Steve Quinn, President of Q6 Real Estate.
“He personally shepherded the project from beginning to end
and acted as our feet on the street in Santa Monica, connecting us with a
number of service providers for our legal, finance and planning needs.”
Quinn adds that
Avison Young’s local knowledge, connections and services will continue to be
utilized as Q6 Real Estate works closely with city planners to create a MINI
car dealership of the future of which residents, stakeholders and planners can
be proud.
For a complete copy of the company’s news release, please
contact:
Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224
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