Auto Dealer Buys Again Property Near Trinity, I-65 | development
Bowling Green, Kentucky-based auto dealership Martin Management Group has paid $15.75 million for a two-lot property in North Davidson County — more than double what it paid just 15 months ago, according to a Davidson County Register document of Deeds .
Located near the intersection of Trinity Lane and Brick Church Pike and with addresses from 1944 and 1973 Southerland Drive (near where Interstate 24-65 divides), the two properties include a warehouse formerly occupied by the local mattress and bed company, Southerland Bedding Inc., founded in 1893.
The purchase comes about a year after Martin paid $8.1 million for a 12-acre property near the Trinity Lane exit off I-65 and a few blocks south of the property he just purchased (read here).
Martin, whose officials could not be reached for comment, has since spent $23.85 million on the two sides.
The seller of The Southerland Drive property was an LLC affiliated with Nashville’s Magnolia Investments Partners, which paid $6.5 million for the property in November 2020 (read here).
Martin Management (also called Martin Automotive Group) owns and operates Downtown Hyundai and Downtown Subaru at Midtown at 1512 Broadway after purchasing Jim Reed Subaru and Jim Reed Hyundai companies in 2011. As previously reported, Houston-based developer Hines now owns a portion of this total acreage where they are planning a multi-building, mixed-use development, resulting in Martin Management eventually having to relocate their dealership (read here).
According to a source who asked not to be named, Todd Prevost, a director at Avison Young’s Toronto-based local office, represented Magnolia in the deal. the post could not determine if Martin used a broker.