HGreg acquired a Nissan dealership from AutoNation in Palmetto Bay for $75 million, marking the largest car dealership sale in South Florida this year.
The dealership, HGreg Nissan Kendall, includes a 71,500-square-foot building and sits on 14.25 acres at 17305 South Dixie Highway. The property sold for $5.26 million per acre.
HGreg Nissan Kendall employs nearly 100 people at the location and sells new and used cars. It’s the largest Nissan dealership in the eastern U.S., according to a press release.
HGreg has been an active buyer of car dealerships in South Florida over the past year.
A year ago, HGreg bought a former Nissan dealership in Delray Beach for $11 million at 2200 South Federal Highway. In August, the company paid $10.5 million for a vacant former Toyota dealership site in West Palm Beach. HGreg also owns dealerships in Doral, North Miami, Westpark (Broward), Orlando and West Palm Beach.
The company was founded in 1993 by Greg Hairabedian and now has over 21 locations across North America and has sold over 500,000 cars, according to its website.
Car dealerships are becoming more valuable in South Florida as land becomes more scarce and zoning to build dealerships becomes more restrictive.