Auto titan buys Penske dealership in
Royal Palm Beach

Terry Taylor secured $38.2M in financing from three different lenders

TRD MIAMI /
Jan.January 17, 2018 10:30 AM

Sunshine Road and north of Southern Boulevard and Penske Automotive Group’s Roger Penski (Credit: Palm Beach County Property Appraiser and LinkedIn)

Automobile titan Terry Taylor just picked up a massive auto dealership in Royal Palm Beach for $44.7 million, property records show.

The dealership at 9405, 9305 and 9205 Southern Boulevard contains three buildings that total 94,280 square feet. The deal breaks down to about $475 per square foot.

Taylor’s privately-held West Palm Beach-based Automotive Management Services Inc. is one of the nation’s largest holders of Nissan and Infiniti dealerships, according to Automotive News.

Records show TT of N. Royal Palm Inc., managed by Taylor, paid $11.7 million for the warehouse at 9405 Southern Boulevard, and TT of M. Royal Palm Inc. paid $10 million for the warehouse at 9305 Southern Boulevard. TT of T. Royal Palm Inc., also linked to Taylor, bought the third warehouse at 9205 Southern Boulevard for $23 million.

Penske Automotive Group is the seller. The Bloomfield Hills, Michigan-based auto dealership company operates automotive and commercial truck dealerships in the United States, Canada and Western Europe, according to its website. Records show Penske built the warehouses through three separate affiliates in 2008. Previous sale information was not available online.

Records show Taylor secured $38.2 million in loans from three different lenders, including $10.2 million in financing from Nissan Motor Acceptance Corp., $8.5 million from Bank of America, and $19.5 million from World Omni Financial Corp.

The dealership sits on 23 acres of land just west of Sunshine Road and north of Southern Boulevard.

Last year, Taylor paid $25 million for a penthouse at Gil Dezer’s Porsche Design Tower in Sunny Isles Beach.


Related Articles

arrow_forward_ios
From left: Steve Bisciotti, Jim Davis with  Jim and John Arrigo, with 5901 Madison Avenue, Tamarac and 2250 North State Road 7, Margate (Getty, Arrigo Auto Group, Google Maps)

Investment firm tied to Baltimore Ravens owner buys South Florida car dealerships for $91M

Investment firm tied to Baltimore Ravens owner buys South Florida car dealerships for $91M
827 South SR 7, Fort Lauderdale & 1200 South Congress Ave, West Palm Beach (Credit: Google Maps)

Off Lease Only sells two South Florida locations for $50M

Off Lease Only sells two South Florida locations for $50M
Prentis Wilson and 1880 Sabal Palm Circle (Realtor)

Proceed to checkout: Former Amazon exec pays $5M for Boca Raton mansion

Proceed to checkout: Former Amazon exec pays $5M for Boca Raton mansion
Patrick Dibre and Honda of Aventura (Linkedin, Google Maps)

NJ auto dealer pays $21M for North Miami Beach dealerships

NJ auto dealer pays $21M for North Miami Beach dealerships
Ed Easton and 501 103rd Avenue North (Google Maps)

Easton Group sells Royal Palm Beach warehouse for $16M

Easton Group sells Royal Palm Beach warehouse for $16M
Brian Tuttle and a rendering of Tuttle Royale

Tuttle Land Development scores loan for 200-acre project

Tuttle Land Development scores loan for 200-acre project
Clarion Partners CEO David Gilbert and 500 North State Road (Credit: Google Maps)

Clarion Partners sells BJ’s-anchored retail center for $40M

Clarion Partners sells BJ’s-anchored retail center for $40M
2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

TIAA sells Weston warehouse for $33M
arrow_forward_ios

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

Loading...