FORT LAUDERDALE, Fla. (January 21, 2014) – Two parcels of land in Fort Lauderdale, purchased for $7.85 million by Q Fort Lauderdale, LLC in September, have been approved by the city for the development of a new Audi dealership and service center.
The land consists of approximately 5.65 acres located at 1200 N. Federal Highway, sold by James Fazio, and at 1400 Progresso Drive, sold by 13th Street Progresso and King Broward Holdings. Berger Commercial Realty Senior Vice President Steve Hyatt and Bill Rotella of The Rotella Group represented Q Fort Lauderdale, LLC in both transactions.
Q Fort Lauderdale is planning an upscale Audi dealership featuring a 159,000-square-foot, four-story building with a two-story glass showroom that will front Federal Highway. The land on Progresso Drive will serve as an additional off-site service and delivery center. The dealership will employ approximately 90 employees when it opens in December 2014. A March 2014 groundbreaking is planned.
Q Fort Lauderdale is part of the Qvale Automotive Group, the owners of Audi Coral Springs and Audi Lighthouse Point, as well as 12 other dealerships in the Northern California and Texas markets. With annual sales of more than $500 million, the Qvale Automotive Group is ranked as one of the top 50 dealership groups in the United States, according to Ward’s Dealer Business.
Hyatt, a former AutoNation executive, spearheaded Audi’s three-year search for a new location in Fort Lauderdale. He was assisted by Rotella, who is also an active retail broker in the area.
Commenting on the sale, Bruce Qvale, dealer principal of the Qvale Automotive Group said, “We are very pleased and excited to be entering the Fort Lauderdale marketplace with the Audi franchise. It is one of fastest growing premium luxury franchises in the world and Fort Lauderdale is one of top markets in the whole country for luxury vehicle sales. Combined with our Audi Coral Springs dealership, we will be able to conveniently serve customers from all points in Broward County.“
About Berger Commercial Realty: Founded in 1998, Berger Commercial Realty is a full service commercial real estate firm. A local, independent and privately-owned firm, Berger can customize services and adapt to clients needs and the ever changing real estate market. Services include brokerage/tenant and buyer representation, property management, agency/project leasing, capital advisory / investment sales, construction/project management, and retail services. The company established a dedicated division, Berger Special Assets, to serve as receiver and enhance the value of distressed properties by providing expert management, leasing and sales representation on behalf of lenders and financial institutions. For more information, visit bergercommercial.com.