Berger Commercial Realty’s Steve Hyatt Negotiates Sale Of Auto Dealership Property For $11 Million

Berger Commercial Realty/Corfac International Senior Vice President Stephen Hyatt represented the Seller, Holman Automotive, Inc., in the sale of an automobile dealership property situated on 1.09 acres located at 2125 South Federal Highway in Fort Lauderdale.

The Buyer, HN Properties FTL, LLC, paid $11,000,000 for the property.

The transaction closed April 17.

The 55,000-square-foot automotive retail property was formerly occupied by the MINI franchise, which relocated to the new Lauderdale BMW dealership located 7 blocks north.

The two-story property, which features a prominent Federal Highway location, was completely renovated in 2016 with a new modern façade and upgraded interior finishes. The property also includes a 100-car parking garage.

The Buyer plans to utilize the property for an automobile dealership for both new and used cars as an exclusive dealer for the all- electric and iconic MOKE franchise as well as other high-end used luxury and exotic used vehicles.

HN Properties FTL, LLC was represented by Steven Seigel of The Luxury Team at Compass Florida LLC.

Hyatt, who originally sold this property to Holman Automotive in 2014, has extensive experience in the automotive retail industry and has represented multiple dealership groups with their real estate needs in South Florida and across multiple national markets. Prior to Berger, Hyatt served as a corporate development executive with publicly traded AutoNation (NYSE: AN)  from 1996 to 2008.