CarMax Auto Superstores buys Naples Saturn dealership

BUYER: CarMax Auto Superstores Inc. (principals: Thomas Folliard and Keith Browning), Richmond, Va.

SELLER: Saturn Southwest Florida

PROPERTY: 425 Airport-Pulling Road N., Naples

PRICE: $3.1 million

PREVIOUS PRICE: $2.4 million, August 2002

SELLER: 3555 Prospect Partners LLC

PROPERTY: a portion of Prospect Avenue, Naples

PRICE: $870,000

PREVIOUS PRICE: $776,600, June 2005

LAW FIRM ON DEED: Woodward Pires & Lombardo PA, Naples

PLANS, DESCRIPTION: Richmond, Va.-based CarMax Auto Superstores Inc. purchased the 4.19-acre former Saturn dealership and an adjacent 1.33-acre parcel for a total of $3.97 million.

The price equated to $719,203 per acre.

Fronting on Airport-Pulling Road and Prospect Avenue, the property features a 10,503-square-foot building, which included a showroom, several offices, a kitchen and an eight-bay auto service center.

The dealership is located across the street from the Naples Municipal Airport.

Elia Imler, a spokeswoman for for CarMax, says the new dealership location is not on the company's current grand opening list, which runs until May 2012.

“We are always looking for good locations and land,” Imler says. “But it can take two to three years before we have a store up and open for business, and until it's open nothing is guaranteed.”

The Naples purchase follows the used-vehicle retailer's purchase of 16.73 acres at the corner of Colonial Boulevard and Metro Parkway in Fort Myers in late 2010 for $4.07 million.