Asbury Automotive Group buys Brandon Buick property

BUYER: C&O Properties Ltd. (principals: Asbury Automotive Jacksonville LP, Michael Kearney, Craig Monaghan, Maureen Mack, Matthew Mees and Elizabeth Chandler), Duluth, Ga.

SELLER: Brandon Buick Inc.

PROPERTY: 9205 E. Adamo Drive, Brandon

PRICE: $2.8 million

PREVIOUS PRICE: $3.98 million, April 1998

LAW FIRM ON DEED: Pilka & Associates PA, Brandon

PLANS, DESCRIPTION: Duluth, Ga.-based Asbury Automotive Group purchased the 27,647-square-foot Brandon Buick Dealership property for $2.8 million. The price equated to $101 per square foot.

The 4.34-acre property features an 8,000-square-foot, two-story showroom with offices and a separate service and body shop building. The property has been vacant since 2008.

“The people that bought it own several other dealerships,” says Sperry Van Ness-Blackpoint Realty Managing Director Anthony Mazzucca, who represented the seller. “This is the largest property in the area they could find.”

Asbury Automotive Group is one of the largest automotive retailers in the U.S., with 2009 revenues of more than $3.6 billion. It currently operates 80 auto and heavy-truck dealerships.