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4/04/16
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A vacant, 26k sf auto dealership within the Palmdale Auto Center in Palmdale sold for $2.23 mil. The buyer, locally-based Rally Auto Group, will use the site for Rally Hyundai, a new Hyundai dealership, which is anticipated to open in the third quarter of 2016.
Located at 421 Auto Center Drive, the site has been vacant for six months and is situated adjacent to Antelope Valley Nissan. Rally Hyundai will be moving from a smaller location within Palmdale Auto Center and will transition its previous location to pre-owned vehicles, inventory storage and overflow service.
Rally Auto Group has been operating in the greater Antelope Valley market for more than 80 years, serving the firm’s Kia, Buick, GMC, Cadillac and Hyundai customers – all within the Palmdale Auto Center, a dominant auto retail location in the densely populated trade area.
Jodi V. Meade with Avison Young represented the buyer as well as the seller, Charman 25 LLC. According to Meade, the location provides an excellent opportunity for Rally Hyundai to expand into a larger footprint within the auto center and better serve its customers with a new state-of-the-art dealership and expanded showroom and service space.
“The local market continues to strengthen as it grows in both population and workforce. Additionally, CarMax recently acquired a 16-acre land parcel for a new location earlier this year. All of this activity bodes well for local and regional auto sales over the next few years,” Meade noted.
The property is well-located adjacent to the Antelope Valley 14 Fwy, just north of the West Palmdale Blvd exit with exposure to more than 171,000 cars per day traveling north and south through the Antelope Valley and adjacent counties. Local new-vehicle franchises include Honda, Volkswagen and Mazda in addition to numerous national restaurant chains, national retailers, and the Antelope Valley Mall.
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