Vernon Krause, owner of Krause Auto Group, has acquired three dealerships in Lee County, Florida, for over $110 million. This acquisition brings Krause Auto Group's total number of rooftops to 23. The dealerships include a Genesis dealership and two Nissan dealerships. The top-performing Fort Myers Nissan dealership will be renovated, and the Genesis store will be relocated. As part of the deal, Mike Spinazze, the general manager, will become a 40% minority partner in the Nissan stores.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $110,000,000
• Address: 2201 Northeast Pine Island Road, 13985 & 13921 South Tamiami Trail
• Market: Cape Coral & Fort Myers

The acquisition was facilitated by broker Mike Sims from Pinnacle Mergers & Acquisitions, who represented Vernon Krause and Krause Auto Group in the transaction.