Dealership Operator Acquires Prime Land in Calif.’s Inland Empire
Nov. 30, 2017—DTM Land Co., LLC, a dealership operator, recently acquired a prime pair of properties along S. Highland Ave. in Fontana, Calif., from Bonanno Family Trust, as reported by InlandEmpire.US.
The undeveloped land represents approximately 12 acres and sold for $7.7 million. That land is dedicated for the development and operation of automobile sales.
Brett Swartzbaugh, who helped represent the seller in both transactions, said “Since the Great Recession of 2008, the auto dealership marketplace has undergone significant changes as dealership franchises consolidated, focusing on land site efficiencies. Identifying suitable purchase candidates for these two land sites required extended time.”
With the two recent land closings, Swartzbaugh’s group now has one undeveloped site remaining for sale along Highland Ave. in that area through Bonanno Family Trust, consisting of seven parcels ranging from 2.75 up to 8.25 contiguous acres.
Zoning on the available site allows for a variety of purposes, including auto sales.