Florida auto mogul buys Framingham dealership land and office building for $13.4M
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Framingham properties purchased by HAC Real Property in March
Shortly after he was approved to buy three Framingham auto dealerships through a collection of corporations, a Florida-based mogul has purchased the properties they sit upon, as well as an adjacent office building.
HAC Real Property, LLC on March 23 bought four Framingham properties along Route 9 for $13.4 million, including car dealership land and the Worcester Road Professional Building.
HAC Real Property is registered to Terry Taylor, a Florida-based car dealership giant, according to filings with the Secretary of the Commonwealth of Massachusetts. The seller of all the properties was the Claremont Realty Trust, affiliated with Connolly Auto Group, who owned the dealerships at the sites and still own Herb Connolly Chevrolet.
The properties at 470, 500, and 540 Worcester Road are home to MetroWest Hyundai, MetroWest Acura, and the Genesis of Framingham. These were sold together for approximately $11 million.
The 15,000-square-foot Worcester Road Professional Building at 550 Worcester Road was sold for $2.5 million. Claremont Realty Trust previously purchased the building in 2010 for $1.9 million.
The three Framingham auto dealerships on those pieces of property were all sold to entities registered to Taylor as well. Framingham Source reported in February that MetroWest Hyundai, MetroWest Acura, and the Genesis of Framingham auto dealerships were approved by the Framingham License Commission to be sold to HNTT Framingham, LLC, ACTT Framingham, LLC, and GNTT Framingham, LLC out of West Palm Beach, Florida. Those entities are registered to Taylor.
The financial details of the sales of the auto businesses were not disclosed.
According to reporting from business publication Florida Trend, Taylor is the nation's largest private owner of automotive dealerships.
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