Online car dealership Carvana has acquired the large land in Mission Valley that has long housed dealership John Hine Mazda.
Ryan Sparks, Reg Kobzi, Kevin Mulhern and Matt Carlson of CBRE represented the seller, JHCH MV Land Co.
Steve Avoyer of Flocke & Avoyer represented the Arizona-based buyer. The parties have not disclosed the sale price.
Located at 1545 and 1551 Camino Del Rio South, the 5.62-acre site south of Interstate 8 had been occupied by the Mazda dealership since 1965. The dealership closed last month.
“We launched our marketing campaign for this property just before the start of the pandemic and immediately had to redefine our strategy,” said Sparks. “We knew we had to change the way we were going to market the site while delivering a positive outcome to the seller. “
Kobzi added that “the seller received a high price relatively quickly”, although the property represents a “niche retail segment”.