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Auto CRE Group Closes $12M Deal

MIAMI-Colliers Abood Wood-Fay says it has over $100 million of similar transactions in play.

By Crystal Proenza | Updated on July 15, 2008

(Crystal Proenza is associate editor of Real Estate Florida.)

MIAMI-Colliers Abood Wood-Fay’s automotive real estate services group has facilitated a transaction of 5.5 acres next to Mall of the Americas off the 836 Expressway for $11.9 million. The site, formerly occupied by Expressway Toyota, was sold by Kahn Family Enterprises of South Florida Ltd. and bought by Albert Maury as trustee for Leon Medical Centers. According to the local firm, the ARESG has generated $200 million in business completing similar automotive transactions over the last four years.

“Our automobile dealers are making record sales; however, not selling cars, but selling their land,” says Owen G. Cone, senior commercial associate with South Florida-based Colliers Abood Wood-Fay. Besides the recently completed deal, Cone says he’s involved with $100 million of similar transactions currently in negotiation. “We’ve made a name for ourselves within the auto dealer community and they have made several referrals back and forth to each other,” he tells GlobeSt.com.

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CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

Assessment

Sponsored by Cherre

Data Management Scorecard: A Health Check for Your Data Management Capabilities and Challenges

CRE strategies and business decisions are only as strong as the data that powers them, and that data better be correct. This self-assessment will help you gauge your current data management capabilities.

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