Orlando-based Greenway Auto Group intends to open Greenway Kia of Jacksonville at the former Toyota at the Avenues property it bought Feb. 22 for $7 million.
The Greenway Kia of Jacksonville Facebook page posted Feb. 26 that the dealership is “coming soon” and shows a photo with “Greenway” and “Kia.”
The NAI Hallmark commercial real estate brokerage firm referred to Greenway Kia of Jacksonville as a notable sales transaction in its Q1 2021 Retail Market Report.
Greenway Realty Management LLC bought the property, at 10564 Philips Highway, from Q Automotive Jacksonville FL of Duluth, Georgia.
Asbury Automotive Group built a larger Coggin Toyota at the Avenues at 11340 Philips Highway in 2014.
Asbury opened a Q auto used-vehicle concept at the smaller site but closed it in 2016.
Truist Bank financed the Greenway Realty Management deal with a $5.95 million commercial mortgage and security agreement.
Greenway Realty Management did the deals through Jacksonville Phillips Hwy Land LLC. It uses a former spelling for Philips.
The sold dealership was built in 1997 on 7.2 acres. It comprises about 42,000 square feet of showroom, service garage and other dealership space.
Greenway already operates Greenway Nissan of Jacksonville at 1726 Cassat Ave. It bought the former Sunrise Nissan in December 2014.
The greenway.com site shows that Greenway has more than 40 dealerships that include Ford, Chevrolet, Toyota, Hyundai, Chrysler, Dodge, Jeep, Ram, Honda, Kia and Nissan.
It says it is a family of new and used car dealerships based in Florida that also serves Alabama, Tennessee, Georgia, South Carolina, Missouri, Texas and beyond.