Loading
BUYER: C&O Properties Ltd. (principals: Asbury Automotive Jacksonville LP, Michael Kearney, Craig Monaghan, Maureen Mack, Matthew Mees and Elizabeth Chandler), Duluth, Ga.
SELLER: Vivolo Ventures Inc.
PROPERTY: 9203 E. Adamo Drive, Tampa
PRICE: $2 million
PREVIOUS PRICE: $1.1 million, June
LAW FIRM ON DEED: Anthony G. Woodward PA, Land O'Lakes
PLANS, DESCRIPTION: Duluth, Ga.-based Asbury Automotive Group bought a onetime Suzuki dealership in Brandon for $2 million.
The deal for the 0.99-acre property also represents a quick profit for Bayshore Automotive, which sells exotic cars. Bayshore owner Darren Vivolo bought the property in June for $1.1 million, with plans to create his first brick and mortar operation after running his dealership as an Internet business for a decade. (See Business Review, July 9.)
But when Asbury Automotive Group bought the nearby Brandon Buick Dealership at 9205 E. Adamo Drive, it decided it wanted Bayshore's property for road frontage. Asbury Automotive officials declined to provide additional details beyond saying it bought the former Brandon Suzuki site for “future use.”
Sperry Van Ness-Blackpoint Realty Managing Director Anthony Mazzucca handled the most recent transaction and the earlier Bayshore Automotive and Brandon Buick deals.
Mazzucca says Bayshore Automotive made some limited improvements to the property. It painted the 5,901-square-foot dealership building, fixed the A/C system and replaced a fence.
“It's on auto row,” Mazzucca says. “There's a concentration of people, highways and the mall there. It's very accessible to [U.S.] 301, State Road 60, the Crosstown [Expressway] and I-75.”
Asbury Automotive Group is one of the largest auto retailers in the country, with 2009 revenues of more than $3.6 billion.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
