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Any Takers for Auto Dealerships?

ATLANTA-Closings by GM and Chrysler create plenty of sites for other types of development.

By Carl Cronan | Updated on May 27, 2009

ATLANTA-There are plenty of vacant automobile dealerships available for sale in the local market. The question is, are there any takers?

Recent announcements by General Motors and Chrysler to end relationships with hundreds of dealers nationwide will lead to more closings in metro Atlanta, adding to acres of already abandoned property, reports the Atlanta Journal-Constitution. A number of independent dealers have shut their doors, along with large dealerships such as Bill Heard Chevrolet, which closed all 14 of its locations last September.

“I think we’re nearing the peak of the amount of available dealerships,” says Nelson Kramer, vice president of CB Richard Ellis in Atlanta, which lists about a dozen automotive properties in its inventory and has sold five dealership properties over the past year.

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