Schumacher Auto Group buys Delray dealer site for $16M

Buyer financed the deal with a $20M loan

TRD MIAMI /
Oct.October 16, 2015 03:00 PM

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.


Related Articles

arrow_forward_ios
Randy Klein and Ocean Delray (Credit: LinkedIn)

Crestron CEO to pay $7.6M for Delray Beach condo

Crestron CEO to pay $7.6M for Delray Beach condo
Delray Trails and Mike Nunziata

13th Floor closes on 120-acre golf course for active adult community

13th Floor closes on 120-acre golf course for active adult community
William Dabbs

Contractor guilty of manslaughter in fatal shooting of his boss

Contractor guilty of manslaughter in fatal shooting of his boss
Craig Menin and 301 East Atlantic Avenue in Delray Beach (Credit: Google Maps)

Menin Development buys Johnnie Brown’s building in Delray Beach

Menin Development buys Johnnie Brown’s building in Delray Beach
9200 Rockybrook Way and Senada Adzem (Credit: Douglas Elliman)

Lakefront estate west of Delray Beach sells for $17M

Lakefront estate west of Delray Beach sells for $17M
Daily Digest Miami

LeBron James’ Unknwn store is opening Dec. 5, Palm Beach Gardens showroom trades for $10M

LeBron James’ Unknwn store is opening Dec. 5, Palm Beach Gardens showroom trades for $10M
Walgreens at 3200 South Federal Highway

Walgreens sells Delray Beach store on Federal Highway

Walgreens sells Delray Beach store on Federal Highway
Midtown Delray, Todd Rosenberg

Pebb Capital pays $40M for once-named Midtown Delray site

Pebb Capital pays $40M for once-named Midtown Delray site
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...