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BUYER: Tampa Bay Automotive LLC (principal: John Williams Jr.), Wesley Chapel
SELLER: Duval Motor Co.
PROPERTY: 11024 N. Florida Ave., Tampa
PRICE: $9 million
PREVIOUS PRICE: $1.05 million, June 1996
LAW FIRM ON DEED: Shutts & Bowen LLP, Orlando
PLANS, DESCRIPTION: Wesley Chapel's Williams Automotive Group purchased the property and business operations of Tampa Honda Land on Florida Avenue from an affiliate of Jacksonville-based Scott-McRae Group. While terms of the business acquisition were not publicly available, the deed reports that it paid $9 million for the dealership's real estate.
The new owner is changing the dealership's name to Tampa Honda.
“It's our first store in Hillsborough County and gives us more reach for the strategic growth of our company,” says Therese Bottino, Williams Automotive Group's marketing director. “It is a heritage location that has great potential to continue to serve the market and grow. We are excited and hoping to bring our culture, style and customer service to push it to the next level.”
Michael Speigl, previously managing partner with Wesley Chapel Honda, is the new managing partner of the dealership.
Scott-McRae Group's Duval Motor Co. purchased the 10.31 acres of land in June of 1996 for $1.05 million, according to county records. It built the 33,051-square-foot main showroom building in 2001 and added a separate 1,200-square-foot car wash building in 2002.
The new owner plans to spruce up the property, but no major changes are planned to the facilities at this point. The dealership employs around 80 people.
Created in 2000 as Southeast Automotive Group, Williams Automotive Group currently owns and operates Wesley Chapel Toyota and Wesley Chapel Honda. The dealership group, led by John Williams, previously owned Toyota Mall of Georgia, Kia Mall of Georgia, Toyota Mall East, Mitsubishi Mall of Georgia, Gwinnett Place Kia and Hyundai Mall of Georgia.
The purchase entity, Tampa Bay Automotive LLC, mortgaged the property to Wells Fargo Bank National Association for $7.2 million.
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