Washington, D.C. – Cushman & Wakefield announced today that the real estate services firm has arranged the sale of a portfolio of 16 auto dealerships throughout Virginia and Maryland.
Cushman & Wakefield’s Erin Rice and James S. Mitchell represented the seller, Browns Automotive Group, in the transactions. The portfolio was acquired by Safford Automotive Group.
“The portfolio offered investors the extremely rare opportunity to purchase a marquee dealer group located in one of the top auto retail regions in the United States,” said Rice. “This was a very exciting acquisition and one of the largest sales of its kind for this area.”
The portfolio consists of 16 auto dealerships including Toyota at 7165-7167 N. Ritchie Highway in Glen Burnie; Honda at 3920 Lee Highway in Arlington and 7160 Ritchie Highway in Glen Burnie; Mazda at 7400 Richmond Highway in Alexandria, 4155 Auto Park Circle in Chantilly and 10570 Fairfax Boulevard in Fairfax; Nisson at 45155 Towlern Place in Sterling and 11010 Fairfax Boulevard in Fairfax; Hyundai at 325 East Market Street in Leesburg and 8651 Centreville Road in Manassas; Kia at 9030 Liberia Avenue in Manassas; Subaru at 9018 Liberia Avenue in Manassas; CJDR at 21900 Auto World Circle in Sterling; Volkswagen at 10501 Midlothian Turnpike in Richmond and two pre-owned, non-franchised dealerships at 135 Roesler Road in Glen Burnie and 1873 South Amherst Highway in Amherst.
Cushman & Wakefield Arranges Sale of 16 Auto Dealerships in Greater Washington, D.C. Area
Jayden Lapin-Tatman • 11/15/2022
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.