Auto magnate sells a Homestead dealership for $19M
Terry Taylor developed the dealership
Auto magnate Terry Taylor sold a new dealership in Homestead to Bomnin Auto Group for $19 million.
Property records show TT of Homestead Inc. sold the former Keith Pierson Chevrolet Superstore at 1075 Southeast Sixth Avenue to Bomnin Automotive CC. It’s now called Bomnin Chevrolet Homestead.
Taylor, who owns a penthouse at Porsche Design Tower, is one of the biggest car dealers in the country. Last year, he paid nearly $48 million for a dealership in Royal Palm Beach.
Taylor’s company paid $960,000 for the 8.6-acre property in 2016, records show. The 60,870-square-foot building was completed in 2018.
Bomnin Auto Group, led by owner Arnaldo Bomnin, has been expanding in South Florida. The company owns Bomnin Chevrolet Dadeland, Grand Prize Chevrolet and Bomnin Chevrolet West Kendall. Last year, the company paid $25 million for the former Toys “R” Us building next to the Dadeland dealership, giving Bomnin an additional 4 acres of land.
Homebuilders like Lennar Corp. are continuing to develop large swaths of land in Homestead. In August, Lennar paid $22.1 million for roughly 85 acres west of Southwest 152nd Avenue. That property is zoned for 770 residences.