Washington DC CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
CBRE Brokers Sale of 12-Dealership Maryland Automotive Portfolio
CBRE completed the sale of a dealership automotive portfolio comprising 12 locations across Southern Maryland. The nearly $500 million transaction included dealership operations, owned real estate and the assumption of select property leases, marking one of the largest automotive retail transactions in the region in recent years.
CBRE’s James Mitchell, Erin Rice and Artin Sepanian of the firm’s Auto Dealership Capital Markets team represented the seller in the transaction. The buyer was Brandon Steve of Brandon Steven Motors (BSM). With the addition of the Southern Maryland portfolio, BSM expands from 21 dealerships in Kansas and Los Angeles to more than 30 locations nationwide across three states.
“This portfolio represents one of the most comprehensive auto retail networks in Southern Maryland,” said James Mitchell, Executive Vice President, CBRE. “Its concentration of key brands and geographic coverage created a rare opportunity for a buyer seeking immediate scale within the Baltimore-Washington, D.C.-Richmond corridor.”
