Berger Commercial Realty Senior Vice President Steve Hyatt represented Holman Automotive, Inc. in the $3.65 million purchase of a Fort Lauderdale site located at 2150 S. Federal Highway.
Element Three Inc. sold the 1.06-acre property, which formerly housed Air & Sea Rent-A-Car.
Holman Automotive is planning to relocate the sales department of MINI of Fort Lauderdale, a MINI Cooper car dealership currently located at 1440 S. Federal Highway, to the new site within a year.
The property features a parking garage with 185 spots and a 38,000-square-foot building, which Holman Automotive plans to renovate. The facility’s architects are Falkanger, Snyder, Martineau and Yates, who are designing a new, ultra-modern showroom for the MINI sales department.
The MINI dealership’s new service center will be located six blocks away at 2627 S. Andrews Ave., where Holman Automotive is currently building a new $15 million service center, designed by the same architects, for both its BMW and MINI franchises. Holman Automotive purchased the South Andrews Avenue property in March 2013 for $5.6 million from Causeway Lumber Company in a deal that was also closed by Hyatt, who specializes in automotive real estate.
Prior to joining Berger Commercial Realty in 2008, Hyatt served for 12 years as Vice President of Corporate Development at AutoNation, where he was responsible for the acquisition and disposition of more than 175 automobile dealerships in 17 states. Using his automotive background and expertise, Hyatt has worked with numerous automotive retailers and manufacturers across the country to meet their real estate needs. In addition to Holman Automotive, he also has represented Audi Fort Lauderdale, Audi Coral Springs and the Phil Smith Automotive Group.
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