Go Back   DealershipForum.com > Regional Forums > Southwest Region > Automotive Discussions


Thread Tools Display Modes
Old 03-08-2016, 11:17 AM   #1
Moshe @ Performance Brokerage Services
Supporting Sponsor
Join Date: Sep 2011
Posts: 213
Default Subaru of Santa Monica Sold

We have recently closed on the sale of the Subaru dealership in Santa Monica, California.

We sold the dealership to Mike Sullivan (LA Car Guy Dealership Group).

The seller was Mr. Ron Davis, Sr. who will remain the Ford dealer in town.

It was a very difficult transaction to pull off: (a) the Subaru franchise was dualed with Ford at the time, (b) Subaru did not want to be relocated outside of Santa Monica, and (c) the value of real estate on Santa Monica Blvd have skyrocketed recently. Frankly, in our view, properties on the boulevard are no longer in line with best and highest use for car dealerships.

Nonetheless, Mike Sullivan owns other properties in town, owns multiple dealerships in the greater Los Angeles area, benefits from a great reputation and undoubtedly will be successful with his latest acquisition.

Moshe Stopnitzky, President
Performance Brokerage Services, Inc.
A New Car Dealership Brokers Firm
Moshe @ Performance Brokerage Services is offline   Reply With Quote
Old 03-10-2016, 12:14 PM   #2
Join Date: Nov 2007
Posts: 14,861


Congratulations on another successful transaction for Performance Brokerage Services.

It was interesting to read that increases in real estate prices have made it difficult to split off a dualed dealership in the Santa Monica area. I know in the past OEMs liked to have "site control" over their dealers so they would be ensured of market representation but I'm not sure how common this is today.

It was also interesting to read that Mr. Davis elected to sell his Subaru store but keep his Ford store. I wonder if there was pressure from Ford to drop the dual franchise or if Mr. Davis made this decision based on his own analysis?

I'm not asking you to disclose the intentions of Mr. Davis; I'm just expressing my curiosity.
XDCX is offline   Reply With Quote

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Subaru dealership in Portland area sold Moshe @ Performance Brokerage Services Automotive Discussions 1 10-26-2015 03:25 PM
Chevrolet Cadillac of Santa Barbara, CA sold. Moshe @ Performance Brokerage Services Automotive Discussions 1 08-18-2014 02:07 PM
Eastside Subaru in Kirkland sold. Moshe @ Performance Brokerage Services Automotive Discussions 1 12-17-2012 09:19 AM
Jim Reed Hyundai-Subaru (was Chevrolet) Sold tnpartsguy Automotive Discussions 8 03-23-2012 09:21 AM
Dealership Closed - Ford of Santa Paula - Santa Paula, CA XDCX Automotive Discussions 0 03-11-2008 09:34 PM

All times are GMT -7. The time now is 06:27 AM.

Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Copyright DealershipForum.com - 2008 - 2016