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Auto Dealer Gets $26.2M from Sale-Leasebacks

Jun 20, 2022 | Reprints | Unlock Link | Print

Image courtesy of CBRE

A family-owned auto dealership will pocket $26.2 million from the sale and leaseback of properties in Auburn and Greenfield.

Lungren Honda and its real estate arm, Lundgren Equity Partners, sold the dealerships at 163 Washington St. in Auburn and 409 Federal St. in Greenfield to Legacy Automotive Capital of Exton, Pennsylvania.

CBRE Senior Vice President Karly Iacono represented the dealership in the negotiations and procured the buyer. Lungren submitted the winning bid in a competitive process that received offers from REITs, institutions, funds and private clients, CBRE said.

B&T Daily