The Real Deal Miami

Schumacher Auto Group buys Delray dealer site for $16M

Buyer financed the deal with a $20M loan

October 16, 2015 03:00PM
By Katherine Kallergis

  • Print
Map of Delray Motors sale and Charles Schumacher

Map of Delray Motors site and Charles Schumacher

Shifting gears into a new market, West Palm Beach-based Schumacher Auto Group paid $16 million for a nearly 14-acre property in Delray Beach, county records show.

Delray Motors Inc., formerly Delray Lincoln Mercury, sold the dealership off of South Federal Highway and south of East Linton Boulevard.

The Delray Beach dealership, at 1835 Old Dixie Highway, was developed in 1961, according to Palm Beach County property records. Chrysler, Dodge, Jeep and Ram are all located at the former Delray Motors site, as well as Lincoln of Delray.

Schumacher has nine locations in West Palm Beach and North Palm Beach, according to the company’s website. The auto dealer financed the deal with a $20.49 million mortgage from Ally Bank.

Timothy, Bruce and Lisa Young owned and ran the dealership under Delray Motors Inc. Previous sales information for the property was not available in county records.