Lynnway Auto Auction, a group of former auctioneers and a new car franchise owner, recently leased and purchased two separate buildings in Billerica.

Lynnway Auto Auction leased 20,962 square feet of space at 159 Rangeway Road in Billerica, according to a statement. Lexington-based The Stubblebine Co. represented the tenant in the lease transaction. David Corkery of CB Richard Ellis represented the landlord, the Hampshire Co.

Lynnway Auto Auction also purchased a 59,000-square-foot building at 400 Charter Way in Billerica which is directly adjacent to 159 Rangeway Road. The company purchased the building for $2.45 million and 40 adjacent acres for $1.15 million.

The building was last assessed for $2.42 million, according to records obtained by The Warren Group, publisher of Banker & Tradesman.

David Stubblebine, James Stubblebine, Micah Stubblebine and Ellen Garthoff of The Stubblebine Co. served as the brokers in the sales transaction.

"Lynnway Auto took the additional warehouse space to accommodate their tremendous growth," said David Stubblebine. "The building and outside land gives Lynnway Auto the opportunity to wash and store additional vehicles."