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UnitedAuto sells properties.(News)(UnitedAuto Group Inc. sold property and buildings totaling more than $72.3 million to McLean, Va.-based Capital Automotive REIT)(Brief Article)
Crain's Detroit Business, January, 2004 by Snavely, Brent
Byline: Brent Snavely UnitedAuto Group Inc. sold property and buildings totaling more than $72.3 million to McLean, Va.-based Capital Automotive REIT during the fourth quarter and set up lease agreements with the company. The transactions dealt with seven auto dealership buildings in San Diego; one property in Tulsa, Okla.; and one property in Waterford Township.
Capital Automotive disclosed the transactions last Wednesday. Bloomfield Hills-based UnitedAuto (NYSE: UAG) has acquired the properties since 1998, but the auto dealership chain often prefers to lease the buildings and property rather than be its own landlord. UnitedAuto, which operates 134 automotive franchises in the United States and 83 internationally, has been acquiring and renovating...
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