authors William Williams
High-end auto dealership company Sonic Automotive Inc. has paid $6.6 million for Rutledge Hill property located near SoBro and downtown’s inner-interstate loop.
Home to a nondescript warehouse once accommodating Nashville-based printing technology company Novatech (previously known as NovaCopy), the four-parcel 0.96-acre property is located near live music venue 3rd & Lindsley and offers an address of 15-21 Lindsley Ave.
The sellers were Alex Brandon, Darren Metz and Joe White. The three co-founded NovaCopy, which moved to the mixed-use Sylvan Station on Charlotte Avenue in Sylvan Heights in 2018. Metz now serves as president of Nashville-based real estate holdings and development company Luxeterra.
Via a limited partnership, Brandon, Metz and White acquired the property in mid-2006 for about $1.94 million, according to Metro records.
Based in Charlotte, Sonic Automotive operates in the Nashville area (primarily in Williamson County) dealerships offering Mercedes-Benz, BMW, Mini, Porsche, Audi, Honda and Cadillac vehicles. As of March 31, the company ran 86 franchised dealership stores and nine EchoPark Automotive used-car locations. The latter concept, which was launched in 2014, has been growing quickly — from $254 million in revenues in 2017 to nearly $1.2 billion last year — and this year has seen locations open in the Atlanta and Tampa markets.
Jim Foley, a broker with the local office of CBRE, represented the sellers. The Post was unable to determine at publication time the identity of the Sonic broker.
"auto" - Google News
July 07, 2020 at 03:14AM
https://ift.tt/2NZqv82
High-end auto dealer buys in Rutledge Hill - Nashville Post
"auto" - Google News
https://ift.tt/2Xb9Q5a
https://ift.tt/2SvsFPt
Bagikan Berita Ini
0 Response to "High-end auto dealer buys in Rutledge Hill - Nashville Post"
Post a Comment