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Business Observer Wednesday, Jan. 5, 2022 5 months ago

Dealer group pays $7.2 million for 13.6 acres

Hendrick Automotive Group purchases Bradenton property, will build a new dealership on the site
by: Louis Llovio Commercial Real Estate Editor

BRADENTON — The North Carolina-based auto dealer Hendrick Automotive Group has bought 13.61 acres in Bradenton for $7.2 million and will build a new dealership on the site.

The property, which was made up of several parcels, is at intersection of State Road 64 and Cypress Creek Boulevard, just west of Interstate 75. It is across from two existing stores, Gettel Toyota of Lakewood and Gettel Hyundai of Lakewood.

The dealer group will name the manufacturer later. Details on when construction would begin and when the new store would open are not immediately available.

The sale closed Dec. 31, according to Ciminelli Real Estate Services, which worked with the buyers.

According to the industry publication Automotive News’ 2021 Top 150 Dealership Groups list, Hendrick is the fifth largest dealer group in the country, selling more than 102,761 new vehicles and 94,356 used vehicles in 2020 and generating $9.8 billion in revenue.

The company, which owns 94 dealerships nationwide, locally owns Rick Hendrick Chevrolet in Naples and Hendrick Honda in Bradenton.

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