SAN LEANDRO — A Northern California vehicle sales group has bought an East Bay auto dealership site from a unit of one of Detroit’s Big Three automakers.
The group, acting through an affiliate, paid $11.9 million to buy a San Leandro site where an auto dealership operates at 1444 Marina Boulevard, according to documents filed on Jan. 5 with the Alameda County Recorder’s Office.
San Leandro Chrysler Dodge Jeep RAM operates on the 4.1-acre San Leandro site, which was just bought by Salty San Leandro, the purchasing affiliate. Carlos Hidalgo, a vehicle dealership executive, heads up the affiliate that bought the property.
Hidalgo is chief executive officer of Fifth Wave, which owns the San Leandro Chrysler Dodge Jeep RAM dealership in the East Bay and Stockton Hyundai, a dealership in San Joaquin County.
The affiliate bought the San Leandro auto dealership property in an all-cash deal, the Alameda County records show.
The new owners of the San Leandro dealership site had their eye on the property for some time before finally being able to buy it. The site is near the interchange of Insterstate 880 and Marina Boulevard and is across the street from the Marina Square retail center, which includes a number of discount retail outlets.
“We have been trying for a while to buy this property and we got the opportunity to do so,” Walla said.
FCA Realty, which is a unit of Stellantis, a Netherlands-based auto manufacturer whose brands include Chrysler, Dodge, Jeep and Ram, sold the site to the Hidalgo-led purchasing group. FCA Realty is also a unit of Fiat Chrysler Automobiles.
Fifth Wave is confident in the prospects for the Bay Area auto sales and property sector.
“We see the Bay Area as a very good market for us,” Walla said. “We really like this property and this location.”
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