Used car dealer HGreg bought a former Nissan dealership in Delray Beach for $11 million.
Fort Lauderdale-based AutoNation paid sold the dealership at 2200 South Federal Highway in Delray Beach to HGreg for about $230 per square foot.
The last sale price for the dealership was $5.2 million, or about $109 per square foot, in 2005.
Built in 1970, the former Nissan dealership spans 47,694 square feet and occupies a 3.76-acre site.
Canada-based HGreg got a $10.5 million mortgage loan from Nissan Motor Acceptance Corp. in connection with its acquisition of the Delray Beach dealership.
According to HGreg’s website, the company has 22 dealership locations in North America and a wholesale warehouse, and it operates an online platform for selling and buying used cars. [South Florida Business Journal] – Mike Seemuth