Berger Commercial Realty’s Steve Hyatt Negotiates Sale Of Auto Dealership Property For $11 Million
Berger Commercial Realty / April 29, 2024
Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt represented the Seller, Holman Automotive, Inc., in the sale of an automobile dealership property situated on 1.09 acres located at 2125 South Federal Highway in Fort Lauderdale, Florida.
The Buyer, HN Properties FTL, LLC, paid $11,000,000 for the property.
The transaction closed April 17.
The 55,000-square-foot automotive retail property was formerly occupied by the MINI franchise, which relocated to the new Lauderdale BMW dealership located 7 blocks north.
The two-story property, which features a prominent Federal Highway location, was completely renovated in 2016 with a new modern façade and upgraded interior finishes. The property also includes a 100-car parking garage.
The Buyer plans to utilize the property for an automobile dealership for both new and used cars as an exclusive dealer for the all- electric and iconic MOKE franchise as well as other high-end luxury and exotic used vehicles.
HN Properties FTL, LLC was represented by Steven Seigel of The Luxury Team at Compass Florida, LLC
Hyatt, who originally sold this property to Holman Automotive in 2014, has extensive experience in the automotive retail industry and has represented multiple dealership groups with their real estate needs in South Florida and across multiple national markets. Prior to Berger, Hyatt served as a corporate development executive with publicly traded AutoNation (NYSE: AN) from 1996 to 2008.
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About Berger Commercial Realty/CORFAC International: Berger Commercial Realty/CORFAC International is a regional, full service commercial real estate firm based in South Florida. Independent and privately owned since its founding in 1998, the firm is a member of CORFAC International, a global network of independently owned commercial real estate brokerage firms. The firm’s property management and brokerage services include tenant/landlord and buyer/seller representation; project and construction management; receiverships; agency/project leasing; capital advisory/investment sales; retail services and more. For more information about Berger Commercial Realty’s brokerage services, CALL 954.358.0900 or visit www.bergercommercial.com.
About CORFAC International: CORFAC International is a global network comprised of privately held entrepreneurial commercial real estate firms with expertise in office, industrial and retail brokerage, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC has 75 offices in the U.S., Canada, and international markets, including Australia, France, Germany, Ireland, Italy, Japan, Malaysia, Netherlands, Romania, Russia, Singapore, South Korea, Switzerland, Thailand, and United Kingdom. CORFAC offices close an average of 10,000 lease and sales transactions valued in excess of $9.0 billion annually, totaling 500 million square feet closed and 65 million square feet managed worldwide.
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