SAN JOSE — One of many Bay Space’s greatest automotive dealerships has widened its footprint by buying a property subsequent to an auto row in San Jose.
Del Grande Dealership Group (DGDG) has purchased a 2.3-acre web site presently occupied by a floor car parking zone behind a few of the car dealerships that line San Jose’s Capitol Expressway auto mall, in line with paperwork filed with Santa Clara County officers on Aug. 19.
An affiliate of the DGDG car retail firm paid barely lower than $6.1 million for the car parking zone, a deed filed with the County Recorder’s Workplace exhibits.
The car parking zone is adjoining to the Capitol Volkswagen and Capitol Buick GMC auto dealerships and is close to the Capitol Chevrolet and Capitol Ford dealerships. Del Grande Dealership Group operates all 4 of those auto retail companies.
An affiliate of Kleinman Holdings bought the property to the DGDG group.
With the newest deal, Del Grande now owns a number of contiguous parcels behind the dealerships that it operates on Capitol Expressway, county data present.
In March, a Del Grande affiliate paid $15 million for a 3.1-acre web site subsequent to the just-bought property, county paperwork present. The three.1-acre parcel is situated at a T-intersection the place Hillsdale Avenue, Pearl Avenue and Foxworthy Avenue meet.
Miki Correa, a senior director with Cushman & Wakefield, a industrial actual property agency, organized each Del Grande Dealership Group purchases that had been accomplished this 12 months.
“DGDG was fairly motivated to purchase these two properties,” Correa mentioned.
The Del Grande group additionally owns, by means of prior purchases, close by buildings and land the place the auto supplier operates Capitol Volkswagen, Capitol Buick GMC and Capitol Chevrolet, county paperwork present.
“They now management a big web site within the auto mall space,” Correa mentioned.
Del Grande is leasing the Capitol Ford constructing from a Kleinman Holdings affiliate. At one level, the Kleinman affiliate additionally was contemplating the sale of the Capitol Ford property however canceled the gross sales effort.
“The Capitol Ford web site is not available on the market,” Correa mentioned.