Asbury Automotive Group Inc. added another Jacksonville dealership this week when it bought Mike Davidson Ford in Arlington. It renamed it Coggin Ford to reflect its automotive brand in Florida.
The Duluth, Ga.-based dealership group bought the dealership and a nearby collision center Tuesday in three separate deed transactions, according to the documents recorded Wednesday with the Duval County Clerk of Court.
Those deeds total $13.84 million.
Asbury Automotive bought the almost 7.8-acre dealership at 9650 Atlantic Blvd. and the nearly 4.3-acre collision center at 704 Mill Creek Road.
Deeds show two transactions, totaling $13.04 million, for the Atlantic Boulevard dealership and a separate deed, for $800,000, for the collision center.
Davidson Ford Ltd. sold the collision center property to KP Motors LLC. Davidson Ford Ltd. and Mike Davidson Properties LLC sold the dealership property in two separate deeds to Asbury Jax Ford LLC. The managing member for both acquisition groups is Asbury Automotive Jacksonville LP.
Asbury Automotive said in a news release that Mike Davidson Ford generates about $90 million in annual revenue.
Asbury Automotive already owned eight dealerships in Jacksonville and St. Augustine, comprising Coggin Buick/GMC; Coggin Chevrolet at the Avenues; Coggin Honda and Coggin Honda St. Augustine; Coggin Nissan at the Avenues and Coggin Nissan on Atlantic; Coggin Toyota at the Avenues; and Q Auto Jacksonville along Philips Highway.
Asbury said in the new release that the purchase boosts the number of Asbury stores in Florida to 24, along with three Q Auto locations.
"We are very excited to add this Ford store to better serve our Jacksonville customers and are pleased to expand our suite of Coggin stores. We welcome our new employees to the Asbury family and are looking forward to this opportunity in the Jacksonville area," said David Hult, executive vice president and chief operating officer of Asbury Automotive Group, in the release.
Asbury Automotive Group, a Fortune 500 company, operates 86 dealerships, comprising 106 franchises for the sale and servicing of 29 domestic and foreign brands of vehicles. It also operates 26 collision repair centers and three stand-alone used-vehicle stores.