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CarMax Buys Norwood Site For Used Car Superstore

Used car dealership firm CarMax has purchased 212 Carnegie Row in Norwood from CMI Property Inc. for $20 million.

CarMax, which has more than 100 locations nationally, intends to raze the existing 125,000-square-foot facility and build a CarMax Auto Superstore on the retail site’s 10 acres of buildable land, which has access from the Route 1 Automile.

Fifteen acres of wetlands will be preserved as open space on the site. A publicly traded company, Richmond, Va.-based CarMax is a Fortune 500 firm that was founded in 1993 and sells new and used cars. Rob Grady of The Dartmouth Co. represented CarMax in the sale negotiation.

Elliot Ravech of Elliot & Co. represented the property owner, CMI Property/Irene Realty Trust, in the transaction.

Commercial & Industrial