Fletcher Jones acquires Carson car dealership for $48.6M

The dealership has been renamed Fletcher Jones Toyota of Carson,

according to property records and an announcement by DCG Acquisitions, an automotive mergers and acquisitions group, which closed the transaction.

Fletcher Jones took out about a $39 million loan from Toyota Motor Credit to finance the purchase of the dealership on more than a half acre of land.The seller was an LLC whose officers served as co-owners for Carson Toyota. It is the largest car dealership in the Auto Row district of Carson.

The dealership has sold cars and trucks from the Japanese automaker for 49 years. Property records show that the former owners acquired the current site for the dealership for about $4.7 million in December 2004. According to a website maintained by the City of Carson’s redevelopment agency, a new building/showroom was constructed on the premises in 2008. The 15-year-old building stretches out to 160,000 square feet.

Neighboring Carson Auto Row dealerships include Carson Honda, Kia of Carson and Chevrolet of Carson.

The acquisition of the Carson Toyota will rank as the 16th dealership for Fletcher Jones Automotive Group, which owns car franchises in California, Nevada, Illinois and Hawaii.

Fletcher Jones California dealerships include Porsche Long Beach, Mercedes-Benz of Ontario, Audi Beverly Hills and Fletcher Jones Motorcars of Newport Beach, which also sells Mercedes-Benz cars.

Source: therealdeal.com