Ron Osborne of RJ Realty completed another auto dealership transaction in the State Road 7 corridor in Plantation.
Osborne brought the dealership located at 720 N. State Road 7 to market for sale, however, one of his long-time prospects was interested in leasing the property rather than purchasing it. American Car Center (ACC) signed a new 10 year lease with 3% annual increase with 2-5 year options. Osborne has been working with ACC, a regional car dealership based out of Tennessee, for over a year trying to locate a suitable location in South Florida.
The lease has an estimated value of $1.8 million.
Currently American Car Center has 50+ location thought the Southeastern US, with 11 in North Florida and hopes to be open in its new South Florida location within the next 30 days.
The ownership of the property intended to sell the property and RJ Realty will be bringing the property back to market as a Triple Net investment in the future.