Putnam Automotive Vendor Group of Burlingame, Calif., added Honda to its rising portfolio of manufacturers in mid August when it bought Primo Honda in San Carlos, Calif.
The transaction closed Aug. 18 after the house owners of Primo Honda offered the dealership’s property to an actual property improvement firm which plans to assemble a big life sciences constructing on the positioning, stated Andrey Kamenetsky, Putnam’s group operations supervisor, in an electronic mail to Automotive Information.
San Carlos is about 25 miles south of San Francisco.
Putnam will transfer the shop, renamed Honda of San Carlos, lower than a mile away in San Carlos efficient Dec. 1, Kamenetsky stated. The shop will function out of modular buildings whereas a brand new facility is constructed, he stated.
“We needed to (rapidly) discover a appropriate alternative property in the identical metropolis in a decent actual property market and located an identical two-plus acre website lower than a mile away from the present location that met Honda’s market necessities,” Kamenetsky stated within the electronic mail.
Primo Honda sellers had been the dealership’s common supervisor David Meese and accomplice Jeff Qvale, stated Mike Toth, a accomplice in Haig Companions, a buy-sell agency in Fort Lauderdale, Fla., which represented the sellers within the transaction.
Putnam is a family-owned and operated dealership group relationship to 1965 when Joe Putnam opened a Buick dealership in Burlingame. Putnam sells 20 automobile manufacturers from greater than a dozen dealerships and likewise operates a service-only Subaru location in San Francisco, in response to its web site.