Vernon L. Krause Of Krause Auto Group Acquires Two Nissan Dealerships From Terry Taylor For $30.5M

The retail asset involved in this transaction spans 11.9 acres, comprising two distinct Nissan dealership locations. The properties are situated at 5353 Lake Worth Road in Greenacres and 3870 West Blue Heron Boulevard in Riviera Beach. The combined sale price for the two locations was $30,500,000, with one dealership consisting of 144,679 square feet, and the other featuring 46,862 square feet.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $30,500,000
• Buyer: Vernon L. Krause - Krause Auto Group
• Seller: Terry Taylor - Automotive Management Services
• Lender: Bank of America
• Square Footage: 191,541
• Price per Square Foot: $159

Terry Taylor, a billionaire, facilitated the sale of his companies’ two Nissan dealerships in Palm Beach County, collectively valued at $30.5 million. The financial aspect of the deal was supported by a loan from Bank of America, amounting to $13.39 million to assist in the acquisition by Krause Auto Group.