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Lithia Real Estate Inc. Acquires Four Car Dealerships From Tom Pohlad For $75.35M

Property Image
SOLD
$75,350,000

Minnesota

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Retail
Sold 03/04/2024
the dealdetailscomps
Property Image
SOLD

Lithia Real Estate Inc. Acquires Four Car Dealerships From Tom Pohlad For $75.35M

2450 Maplewood Drive, 2490 Maplewood Drive, Wayzata Blvd & 38420 Tanger Drive

See Similar Deals
Retail
Sold 03/04/2024
the dealdetailscomps

Summary

MINNESOTA
Asset Type:Retail
Transaction Type:Sale

The property involved in the transaction is a retail asset located at 2450, 2490 Maplewood Drive, 145802 Wayzata Boulevard & 38420 Tanger Drive. The sale price for this property was $75,350,000. The deal was between the buyer, Bryan DeBoer of Lithia Real Estate Inc., and the seller, Tom Pohlad of Pohlad Cos.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $75,350,000
  • Address: 2450, 2490 Maplewood Drive, 145802 Wayzata Boulevard & 38420 Tanger Drive
  • Market: Maplewood, Minnetonka & North Branch

Bryan DeBoer of Lithia Real Estate Inc. played the role of the buyer in this transaction, acquiring four car dealerships from Pohlad Cos. as part of the deal involving the sale of Carousel Motor Group. This acquisition signifies Lithia's expansion into the Twin Cities market while representing Pohlad Cos.' exit from the automotive industry.

Details

SOLD
IMAGE: Tom Pohlad & Bryan DeBoer DATE: 03/04/2024 ADDRESS: 2450, 2490 Maplewood Drive, 145802 Wayzata Boulevard & 38420 Tanger Drive MARKET: Maplewood, Minnetonka & North Branch ASSET TYPE: Retail BUYER: Bryan DeBoer - Lithia Real Estate Inc. SELLER: Tom Pohlad - Pohlad Cos. SALE PRICE: $75,350,000 NOTE: Pohlad Cos. sold four car dealerships in the Twin Cities and beyond for $75.35 million to Lithia Real Estate Inc., part of the deal involving the sale of its Carousel Motor Group to Lithia. This transaction marks Pohlad Cos.' exit from the automotive industry, with Lithia expanding its presence in the Twin Cities market.

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