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Boston & New England  + Metro Boston  + Retail  | 
Legacy Automotive Capital has acquired properties leased by Honda dealerships in Auburn and Greenfield, MA for $26.2 million.

Legacy Automotive Acquires $26M Sale-Leaseback Dealerships in Auburn, Greenfield

CBRE has completed the $26.2-million sale-leaseback of auto dealerships in Auburn and Greenfield, MA on behalf of seller Lundgren Honda and Lundgren Equity Partners.

Legacy Automotive Capital acquired the properties at 163 Washington Street in Auburn and 409 Federal Street in Greenfield.

Karly Iacono of CBRE represented the seller and procured the buyer, which exclusively acquires the real estate of new-car franchise dealerships.

“We conducted a competitive bid process and were able to maximize the proceeds for the seller while creating a stable passive income stream for the buyer,” said Iacono. “Indicative of the strength and expansion of the net -ease market, offers were sourced from REITs, institutions, funds and private clients.”

Built in 2012, 163 Washington Street is a 55,870-square-foot facility housing Honda of Auburn. The property at 409 Federal Street in Greenfield, constructed in 2005, totals 12,807 square feet and is a Honda of Greenfield location.

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CBRE's Iacono

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition