An auto dealership in Renton recently sold for $18 million, or approximately $493 per square foot. According to King County public records, the 36,473 square-foot dealership was sold to 585 Rainier LLC, an entity associated with Greater Seattle Auto Dealer Gregory Brackett.
The property, Lithia Dodge Chrysler, is located at 585 Rainier Avenue South on a 266,968 square-foot lot. The property was initially built in 1982 and previously owned by Capital Automotive, according to public records.
According to the property website, the one-story building holds more than 350 Chrysler, Dodge, Jeep and Ram vehicles and offers a customer lounge as well as a drive-up service lane.
“At Renton CDJR, we believe that the auto buying process should be simple and easy, as well as completely transparent. We have devoted ourselves to helping and serving Renton, Auburn, Tacoma, Bellevue, Seattle, and other surrounding localities to the best of our ability. We believe that the cars we offer are the highest quality and are ideal for the needs of our customers. We offer a huge selection of both new, CPO, and pre-owned vehicles with over 350 in stock,” the property website states.
Located along Rainier Avenue, the property is in close proximity to various other retail properties, including both Car Pros Hyundai Renton and Tyota of Renton and the Renton Shopping Center. The dealership is also in close proximity to Interstate-405, providing direct access to Bellevue as well as much of the greater Seattle area.
The Renton location is just one of several properties owned by Brackett. Since 2013, public records show the local auto dealer has also acquired several other local dealerships, including Bellevue Nissan, Burien Nissan and Alfa Romeo of Seattle.
The transaction in Renton was just one of several recent car dealership sales to take place in the Greater Seattle area in the past several years. Most recently, in February, the North Seattle Chrysler Dealership sold for $10 million, and in 2018, OpenRoad Auto Group Limited purchased a BMW Dealership in Bellevue for $25 million.