Asbury Automotive Group is rolling out a new dealership in Jacksonville, although details aren’t expected to be available about the concept until next week.
Q Automotive Jacksonville will operate Asbury’s Coggin Toyota at the Avenues property along Philips Highway after that dealership relocates to a new, larger site at Philips Highway and the Interstate 295 East Beltway, building permit applications show.
Asbury spokeswoman Melissa Corey declined Thursday to discuss Q Automotive. She said the Asbury Automotive earnings call at 10 a.m. Wednesday would answer questions. That call with investors will discuss first-quarter earnings of the Duluth, Ga.-based company.
The city is reviewing a building permit application for Q Auto Jacksonville at 10564 Philips Highway, the site of Toyota at the Avenues. Plans call for renovation of the existing buildings, improving the parking area and more work at a project cost of $721,829.
The contractor is RLH Construction; the architect is Praxis3 LLC; and the engineer is Kimley-Horn and Associates Inc. The property owner is a New York real estate holding company.
Coggin Toyota at the Avenues is building a new dealership at 11340 Philips Highway at a project cost of $5.2 million.
Asbury Automotive lists two Q dealerships in its Securities and Exchange Commission filings, but doesn’t specify a Florida location.
However, the Florida Department of State Division of Corporations shows that Q Automotive Jacksonville FL LLC was registered March 13. Its leading member is Q Automotive Group L.L.C., whose manager is Asbury Automotive Group L.L.C.
Asbury Automotive said it will release its first quarter financial results before the market opens Wednesday. President and CEO Craig Monaghan, Executive Vice President and COO Michael Kearney, and Senior Vice President and CFO Keith Style will host a conference call at 10 a.m.
Asbury Automotive Group Inc. is based in Duluth, Ga., a suburb of Atlanta. It operates 80 retail auto stores, including 100 franchises for the sale and service of 29 brands of American, European and Asian automobiles. It operates at 80 locations in 18 metropolitan markets in 10 states: Arkansas, Florida, Georgia, Mississippi, Missouri, New Jersey, North Carolina, South Carolina, Texas and Virginia.
In the Jacksonville area, Asbury Automotive owns Coggin Buick/GMC along Blanding Boulevard; Coggin Chevrolet at the Avenues, Coggin Nissan at the Avenues and Coggin Toyota at the Avenues, all along Philips Highway; Coggin Nissan on Atlantic and Coggin Honda along Atlantic Boulevard; and Coggin Honda St. Augustine along U.S. 1 South in St. Augustine.
Asbury bought the Coggin Automotive Group in October 1998, comprising franchises in Jacksonville, Orlando and Fort Pierce.
For the fiscal year that ended in February, Asbury Automotive reported income from continuing operations of $109.7 million, up from $83.3 million the year before. Net income was $109.1 million, up from $82.2 million. Revenue rose 15 percent to $5.3 billion.
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