Maroone drives away with Roger Dean Chevy dealership in West Palm Beach for $13M

Deal comes amid a spate of South Florida dealership sales

Miami /
Mar.March 08, 2021 06:00 PM
Mike Maroone and 2235 Okeechobee Boulevard (Getty, Google Maps)

Mike Maroone and 2235 Okeechobee Boulevard (Getty, Google Maps)

Auto mogul Michael Maroone bought the Roger Dean Chevy dealership in West Palm Beach for $12.5 million.

Records show Maroone’s Maroone USA, through its affiliate, PD-MM Opco, bought the dealership at 2235 Okeechobee Boulevard from Roger Dean Chevrolet.

The buying entity is led by Michael Maroone and his nephew, John Hoctor. The group took out a $10.6 million acquisition loan from Truist Bank.

Property records show the property, built in 1965, has three structures totaling 65,297 square feet and a parking lot, spanning a total of 7.4 acres.

The Maroone and Dean names are some of the biggest in auto retail. Maroone, chairman and CEO of Maroone USA, started out working at his family’s New York Ford dealership and then became general manager of the family’s first dealership in South Florida. He served as Maroone Auto Group president from 1977 to 1997. He was president, chief operating officer and board member of AutoNation from 1999 to 2015, according to his LinkedIn.

Dean, who died in 1999, also started as a Ford dealer. He established his first Chevrolet dealership along Palm Beach County’s Dixie Highway, later moving it to Okeechobee Boulevard. Dean is the namesake of Roger Dean Chevrolet Stadium in Jupiter.

His daughter, Patty Dean, continued to lead her father’s business, and in 2017 partnered with Maroone USA to jointly own and run the West Palm Beach dealership, according to a media release. Marrone now assumes full ownership and has rebranded the dealership as Mike Maroone Chevrolet West Palm Beach.

The dealership offers new and pre-owned cars as well as services for all makes and models.

Several dealerships have sold in South Florida in recent months, including a few in Palm Beach County. Last month, Wayne Akers Fort and Wayne Akers Truck Rentals in Lake Worth Beach traded for $21 million. In October, Pebb Enterprises sold a West Palm Beach Tesla dealership for $13 million.

Elsewhere, Bomnin Automotive Group scooped up a closed Mitsubishi dealership in Pinecrest in January for $7.3 million.






    Related Articles

    arrow_forward_ios
    Continental Realty Corp. CEO J.M. Schapiro. and The Shoppes at Sherbrooke’s anchor, LA Fitness
    Continental Realty buys LA Fitness-anchored shopping center near Wellington
    Continental Realty buys LA Fitness-anchored shopping center near Wellington
    Interstate Industrial Park at 6555-6557 Garden Road (Google Maps, iStock)
    Koda Interstate buys Riviera Beach industrial park for $13M
    Koda Interstate buys Riviera Beach industrial park for $13M
    Commercial Tower and East Sunrise Boulevard
    Lease roundup: Iberia Foods takes 78K sf space & more
    Lease roundup: Iberia Foods takes 78K sf space & more
    Alfred F. Kelly, Jr. and 833 Turtle Beach Road (Visa, Google Maps)
    Life takes cash: Visa CEO buys lakefront home in North Palm Beach
    Life takes cash: Visa CEO buys lakefront home in North Palm Beach
    Clockwise from top left: 375 South County Road, 225 Worth Avenue, 220 Peruvian Avenue and 219 Worth Avenue (Google Maps) 
    Burton Handelsman sells Palm Beach retail, offices for $58M
    Burton Handelsman sells Palm Beach retail, offices for $58M
    Rey Grabato and 707 North Ocean Boulevard, Delray Beach (Linkedin, 707 Delray)
    NRIA CEO sells oceanfront Delray Beach spec home for $16M
    NRIA CEO sells oceanfront Delray Beach spec home for $16M
    Terranova founder Stephen Bittel and Cineworld CEO Mooky Greidinger with Shadowood Square (Getty, Google Maps, Terranova, iStock)
    Terranova wins suit against Regal Cinemas over $807K in unpaid rent at Boca Raton shopping center
    Terranova wins suit against Regal Cinemas over $807K in unpaid rent at Boca Raton shopping center
    James and Marta Batmasian with former Boca Raton Mayor Susan Haynie (Investments Unlimited)
    Ex-Boca mayor pleads guilty in public corruption case over financial ties to real estate tycoon
    Ex-Boca mayor pleads guilty in public corruption case over financial ties to real estate tycoon
    arrow_forward_ios

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

    Loading...