Auto Dealership Breaks Ground In Coconut Creek With $16M Loan
A Mazda dealership broke ground in Coconut Creek after the dealer secured a $16.14 million construction loan.
Toyota Motor Credit Corp. provided the mortgage to Pompano Autoplex LLC, managed by Don Lia of Huntington, New York-based Lia Motor Group. His company owns 10 dealerships, including Mazda of Palm Beach.
The loan secures the 5-acre site at 3757 Coral Tree Circle. The dealer purchased the property for $5.1 million in 2020 and demolished an office building there. It was previously used by Waste Management.
Coconut Creek Mazda was approved for a two-story building of 16,094 square feet for a showroom, sales center and offices. It would be attached to a three-story building of 90,582 square feet, consisting of 8,898 square feet of auto service with 16 repair bays and a parking garage. There would be 455 parking spaces on the site between the surface parking and the garage, including 318 spaces for dealer inventory.
The dealership was designed by J.A.O. Architects & Planners in Boca Raton.
While it might seem odd for Toyota to finance construction of a Mazda dealership, the two automotive companies have been working closely together since forming an alliance in 2015. Toyota owns a minority stake in Mazda.