New Life for Former Mercedes-Benz Dealership
Charles Wayne Properties Sells Former Daytona Mercedes Dealership
DAYTONA BEACH, FL. The former Mercedes-Benz dealership located at 1720 and 1730 Mason Ave. in Daytona Beach, Florida sold on November 19, 2015.
The buyer, Bourne Enterprises, Inc. paid $950,000 for the property, and will be renovating the facility as part of a geographic expansion. Bourne’s Auto Center, located in the greater Boston area, is a full service auto sales facility, and the ownership has been involved in the vehicle sales and transportation industry for decades. Bourne’s Auto Center plans to open the new Daytona location in early 2016.
The seller, MMR Holdings, LLC, is a subsidiary of Virginia based Capital Automotive. Capital Automotive was acquired by Brookfield Asset Management in 2014 for $4.3 billion. The sellers were represented by Brian Adair and Ted Lightman of Charles Wayne Properties, Inc.
The facility is just under 20,000 square feet, and the site is 4.68 acres. The property is located along Mason Avenue, close to Volusia Mall, and just over one mile from the planned Tanger Outlet project at LPGA and I-95.
“This sale is an indicator that businesses see Daytona’s economic growth in a tangible way,” Adair said. “They are willing to invest in the area and we expect that trend to continue. The Trader Joe’s distribution facility and recently announced projects from Tanger Outlets to Minto Communities have given our market real traction. Companies are giving the LPGA area serious consideration as they expand their footprint.”
Charles Wayne Properties, Inc. is one of Central Florida’s largest commercial brokerage, management and development firms with approximately 1,800,000 sq. ft. of property, which it owns, manages and/or leases.
FOR FURTHER INFORMATION, CONTACT TED LIGHTMAN AT CHARLES WAYNE PROPERTIES, INC.
PHONE: 386-506-0028, EMAIL: [email protected]