Bomnin Automotive Pays $7M for Kendall Area Lot
Arnaldo Bomnin and 16435 Southwest 117th avenue (Bomnin Chevrolet, Google Maps, iStock)
A dealership is expanding its Miami-Dade County existence by shopping for section of a church’s house for $7.2 million.
Assets records present Calvary Church Ministries marketed the northern 5-acre portion of the 10.2-acre-home at 16435 Southwest 117 Avenue in Kendall to the Bomnin Automotive team, led by Arnaldo and Yanisley Bomnin. Records clearly show the Miami-primarily based dealership took out a $6.5 million loan from Fort Worth, Texas-primarily based Americredit Economic Products and services.
Arnaldo Bomnin stated that the assets would be utilized for income and assistance functions, but that certain ideas ended up not but in area.
The home very last marketed for $1.1 million in 2002, data display. A consultant from Calvary Church Ministries could not be achieved for remark.
The site is the hottest addition to Bomnin’s growing portfolio. Past calendar year, Bomnin Automotive paid out $7.3 million for a previous Mitsubishi dealership in Pinecrest, and in 2019 the company paid out $19 million for a dealership at 1075 Southeast Sixth Avenue in Homestead.
In 2018, Bomnin submitted a winning bid of $25 million for a shuttered Toys “R” Us creating at 8325 South Dixie Freeway, which gave him a lot more than 4 acres and just about 48,000-square-toes of making space next to an existing dealership at 8455 South Dixie Freeway in unincorporated Miami-Dade, around Dadeland.
Information show Bomnin also owns the dealership spanning 11701 and 11855 Southwest 152nd Road, which the organization bought from Grand Prize Automotive in 2016 for $21 million. Bomnin acquired his very first dealership in 2010, according to the company’s web page.
Past calendar year, vehicle mogul Michael Maroone paid out $12.5 million for the West Palm Beach Roger Dean Chevy dealership, and Robert L. Akers sold a auto dealership and adjoining truck rental home in Lake Worthy of for a whole of $20.7 million.
Car or truck charges have surged in the course of the pandemic as source shortages have created a seller’s market place. Last thirty day period, the Wall Avenue Journal documented that Ford and Standard Motors warned dealerships versus charging clients additional than the record price tag for new cars and trucks. In December, the Journal claimed that approximately 87 % of all new automobiles sold at or earlier mentioned sticker price tag.