Berger Commercial Realty Senior Vice President Steve Hyatt recently represented Holman Automotive, Inc. in the purchase of a 5.7-acre property in Fort Lauderdale for $5.6 million from the Causeway Lumber Company.
Holman Automotive, the ninth largest automotive dealership group in the United States by revenue according to Ward’s Dealer Business, plans to develop the site into a major new service facility for BMW and MINI. The property, located at 2627 S. Andrews Ave., currently serves as a retail showroom for Causeway Lumber Company, which will be moving to a nearby location.
“Automotive franchise laws and regulations regarding the establishment or relocation of a dealership are very complex,” Hyatt said. “This property met the needs of Holman Automotive and we were able to negotiate a valuable deal for both parties.”
Prior to joining Berger Commercial Realty in 2008, Hyatt served for 12 years as Vice President of Corporate Development at AutoNation, where he was responsible for the acquisition and disposition of more than 175 automobile dealerships in 17 states. Using his automotive background and expertise, Hyatt has worked with numerous automotive retailers and manufacturers across the country to meet their real estate needs. In addition to Holman Automotive, he has also represented Audi Coral Springs, Audi Lighthouse Point, and the Phil Smith Automotive Group. He recently represented Courtesy Automotive Group in its $8.25 million sale of a 5.5-acre dealership location in Bellevue, Wash., and a $6.6 million land sale to CarMax in Denver, CO.
In addition to the automotive retail sector, Hyatt also specializes in investment sales, land brokerage and acquisition/ disposition services for both corporate clients and private investors.
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.