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Osborne represented the Seller, WHD Holdings LLC, an entity managed by David Rivera, in the transaction.
The Buyer, JP Office, LLC was not represented.
Osborne said it was good old-fashioned brokerage that resulted in finding the buyer – he canvased all of the used car dealerships up and down State Road 7 north of I-595.
The transaction, which took about 60 days to close, was valued at $2,265,000 for the 2-acre property.
The Seller operated as Wheelin’ ‘N Dealing car lot and the ownership is retiring. The Buyer intends on opening a 2nd location and is finalizing a franchise agreement for this location as used car dealership.
“Finding car dealerships with legal conforming use with an active certificate of use is becoming increasingly difficult to find,” explained Osborne.
Osborne is still seeking lots for several large out-of-area used car dealerships looking for similar types of facilities between 30,000 and 40,000 SF, with office areas of 2,500 to 3,000 SF.