AUTO DEALERSHIP

Auto Dealership Redevelopment San Francisco Bay-Area, Marin County, CA Automotive Property # 1: Former Range Rover Dealership Automotive Property # 2: Former Infiniti Dealership Tenants: Starbucks, California Closets, Citi Financial and Sleep City. GLA:  Property # 1:12,495 sq. ft. Property # 2: 5,000 sq. ft

Investment Strategy: TKH joined forces with a prominent Northern, CA auto dealership owner and investor, with 40 years of experience in the automotive industry to reposition and redevelop two surplus auto dealerships into retail projects, located along outstanding, high visibility freeway locations in Marin County, CA. Located in San Rafael’s High Growth Retail Corridor off the west side of Highway 101, TKH strategically planned to take advantage of the problems faced by the automobile industry by redeveloping well located urban and suburban dealerships into profitable retail centers. With the economic shifts from older, single-brand dependent dealerships located in infill locations to larger, regional multi-brand “auto malls”, and the success of certain brands that needed larger sites for their dealerships, coupled with the overcapacity in the auto industry, this created an opportunity of “dark box” sites for redevelopment. These two properties presented TKH with the opportunity to deliver strong results. TKH led the redevelopment team in the space planning, entitlements, new signage program and successfully addressed the delivery zone, access and adaptive re-use issues, redeveloping this into a stabilized property. Seeking to take advantage of strategic, high visibility retail locations in a free standing buildings visibility located in San Rafael and Marin, CA’s high growth retail corridor, TKH successfully negotiated entitlements and redeveloped two sites into retail projects; tenants include a flagship store for California Closets, a Starbucks, Citi Financial banking center, and Sleep City. This is now a stabilize property with ample parking, signage and highway visibility. Conclusion: TKH successfully repositioned the former Range Rover and Infiniti dealerships in the Bay Area’s wealthiest county, resulting in a successful value creation play with strong cash flow and two community serving redevelopment projects.