Courtesy Auto Group parent buys additional land

BUYER: Precision Motorcars Inc. (principals: Michael Kearney, Keith Style, Craig Monaghan, Matthew Mees, Maureen Mack and Elizabeth Chandler), Duluth, Ga.

SELLER: John and Joanna Roberts

PROPERTY: 3804 W. Alva St. and 4421 N. Church Ave., Tampa

PRICE: $1.78 million

PREVIOUS PRICE: $800,000, June 2007

LAW FIRM ON DEED: Hill Ward & Henderson PA, Tampa

PLANS, DESCRIPTION: Asbury Automotive Group, the parent company of Tampa's Courtesy Auto Group, purchased two warehouse buildings on 0.92 acres south of Alva Street and west of Dale Mabry Highway for $1.78 million.

The price equated to $136 per square foot.

The parcels house a 7,000-square-foot and a 6,087-square-foot building north of Courtesy Auto Group's Mercedes Benz of Tampa dealership.

“It was available, and it made sense for us to acquire the additional space [for the Mercedes Benz dealership],” says Melissa Corey, manager of public relations and communications for Asbury Automotive Group. “We have no plans for it right now.”

Duluth, Ga.-based Asbury Automotive Group operates 81 auto and heavy truck dealerships.

The purchase entity Precision Motorcars mortgaged the property to the former owners John and Joanna Roberts for $1 million.