A South Carolina automotive group is entering the Triad marketplace in a major way by spending $65.2 million to purchase the properties of five Greensboro Crown dealerships.
Affiliates of Hudson Auto Group, based in Daniel Island, S.C., acquired in separate transactions Monday the Crown Acura, BMW, Chrysler Jeep Dodge Ram, Honda and Volvo dealership properties. according to Guilford County Register of Deeds filings Monday.
The affiliates also bought the Crown Body Shop property and an adjacent parking lot.
Before the Crown purchases, Hudson had 39 dealerships concentrated primarily in the Southeast. It already had a North Carolina dealership in Gastonia, Indian Trail and Rocky Mount.
The seller was Asbury Automotive North Carolina Real Estate Holdings LLC, which has been operating under the Crown brand in the Triad. Crown also has two dealerships in Fayetteville and one in Durham.
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Neither company could be immediately reached for comment about the transaction.
The largest purchase involves the Crown BWM property at 3902 W. Wendover Ave., which was sold for $16.95 million.
The Crown Honda property at 3633 W. Wendover was bought for $14.2 million.
The Hudson affiliate paid $12.6 million for the Crown Chrysler Jeep Dodge Ram property at 3710 W. Wendover, as well as $9.65 million for the Crown Volvo property at 3607 W. Wendover, and $6.9 million for the Crown Acura property at 3908-3912 W. Wendover.
The Crown Body Shop at 719 Carmann St. was sold for $4.3 million, along with an adjacent parking lot for $600,000.
However, the transactions don’t appear to involve the Crown Nissan property at 3900 W. Wendover.