The online car dealer Carvana has acquired the large Mission Valley lot that served as the long-time home of the John Hine Mazda dealership.
Ryan Sparks, Reg Kobzi, Kevin Mulhern and Matt Carlson of CBRE represented the seller, JHCH M.V. Land Co.
Steve Avoyer of Flocke & Avoyer represented the Arizona-based buyer. The parties did not disclose the sale price.
Located at 1545 & 1551 Camino Del Rio South, the 5.62-acre site south of Interstate 8 had been occupied by the Mazda dealer since 1965. The dealership closed last month.
“We launched our marketing campaign for this property right before the beginning of the pandemic and immediately had to re-strategize,” Sparks said. “We knew that we would have to change the way we were going to market the site while still delivering a successful outcome for the seller.”
Kobzi added that “the seller received a strong price relatively quickly,” though the property represents a “niche retail segment.”