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1640 State Road 7
SOLD

Brett Morgan Acquires Hollywood Kia In $22.5M Deal For Morgan Auto Group

1640 State Road 7

Retail
clock iconSold 36 days ago
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Summary

Sale
FLORIDA
Retail

The retail property located at 1640 State Road 7 in Hollywood, with an area of 2.7 acres, was sold for $22,500,000. The buyer, Brett Morgan of Morgan Auto Group, acquired the property from the seller, Joe Levy. The transaction was facilitated by broker Haig Partners.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $22,500,000
  • Buyer: Brett Morgan - Morgan Auto Group
  • Seller: Joe Levy
  • Broker: Haig Partners
  • Address: 1640 State Road 7
  • Market: Hollywood

Morgan Auto Group's acquisition of Hollywood Kia in Broward County for $22.5 million adds to its existing 77 locations statewide, solidifying its position as Florida's largest car dealership owner. Hollywood Kia, under Joe Levy's ownership, has been the second-highest performing Kia dealership in the U.S. since 2022. This purchase comes after Morgan Auto Group's $42 million acquisition of Al Hendrickson Toyota the previous year.

Details

Deal Summary
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SOLD
IMAGE: Brett Morgan DATE: 06/07/2024 ADDRESS: 1640 State Road 7 MARKET: Hollywood ASSET TYPE: Retail ~ ACRES: 2.7 BUYER: Brett Morgan (@BrettMorganauto) - Morgan Auto Group (@MorganAutoGroup) SELLER: Joe Levy BROKER: Haig Partners SALE PRICE: $22,500,000 NOTE: Morgan Auto Group acquired Hollywood Kia in Broward County for $22.5 million, making it Florida's largest car dealership owner with 77 locations statewide. Hollywood Kia, owned by Joe Levy, is the second-highest performing Kia dealership in the U.S. since 2022, and this purchase follows Morgan Auto's $42 million acquisition of Al Hendrickson Toyota last year.

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Address1640 State Road 7

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