Driving the news: Spouses Jennifer and Jason Dougherty of Legacy Auto Center purchased the former Hyundai of Dodge City in Kansas from The G1 Group in a deal that closed on February 12.
For context: The Doughertys renamed the store Legacy Hyundai of Southwest Kansas, according to Performance Brokerage Services, which facilitated the transaction.
The Hyundai store is the pair’s second dealership.
They relocated it to a former used-car building in Garden City, Kansas, on the same campus where their CDJR dealership operates.
Construction to remodel and add on to the Hyundai building will begin in about 12 months.
The G1 Group is an investment firm that primarily focuses on automotive in addition to finance, real estate, entertainment, sports and technology, according to its website.
Bottom line: The buyers wanted to grow and add a franchise to their portfolio and felt it best to operate both dealerships in the same city as their existing store. And since they already had the building, it was a win-win situation, according to Jamie Farley of Performance Brokerage Services.
You can see this deal announcement and many more throughout the entire year, by visiting the CDG Buy/Sell tracker at CDGbuysell.com powered by:
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