Morgan Auto adds Hollywood Kia to South Florida portfolio

Morgan Auto Group souped up its South Florida portfolio by acquiring a high-performance Kia dealership in Broward County. As a result, Tampa-based Morgan Auto is now Florida’s largest car dealership owner with 77 across the state. 

A Morgan Auto affiliate paid $22.5 million for Hollywood Kia at 1640 South State Road 7 in Hollywood, records and real estate database Vizzda. 

Haig Partners, a Fort Lauderdale-based auto dealership brokerage, represented the seller, an entity managed by car dealer Joe Levy, according to a press release. Levy’s entity paid $933,000 for the 2.7 acre site in 2000, records show. The car lot and two buildings were completed in 1977.

Hollywood Kia has ranked second in sales volume among all Kia dealerships in the U.S. since 2022, the release states. 

Last year, Morgan Auto acquired Al Hendrickson Toyota in Coconut Creek. The $42 million purchase entailed two adjacent properties spanning 20.3 acres with five buildings completed in 1988 and 1989, records show. 

Morgan Auto also owns two Hyundai and Genesis dealerships in Kendall, an unincorporated neighborhood in southwest Miami-Dade County.

The first half of the year has seen an uptick in car dealership deals. In March, CarMax paid $16 million for 24 acres of vacant industrial land in Jupiter. A company spokesperson said CarMax will likely use the site for vehicle auctions. 

The same month, Raleigh, North Carolina-based Johnson Automotive Dealership Group acquired a redevelopment site in Miami’s Edgewater neighborhood for $25 million. Johnson Automotive plans to convert an existing Staples store into a Kia dealership. 

And in January, Hollywood-based Craig Zinn Automotive Group purchased an 8.3-acre property in southwest Miami-Dade County for $23.5 million. The site has county approval for a two-story auto retail building spanning nearly 76,000 square feet and 580 parking spaces.