FOR IMMEDIATE RELEASE


Acura of Memphis Present Location to be Sold at Absolute Auction

An absolute auction on Thursday, June 28th, at 1:00 pm will offer the real estate at the current facility of ACURA OF MEMPHIS located at 2680 Mt. Moriah Road.  Open house dates are June 18th, 19th 20th, 25th, 26th, and 27th.  

This site has been the ACURA flag ship location since 1986.  The dealership’s move to their new location at 2611 Ridgeway Road should occur near Labor Day of 2007.  The GRAND OPENING announcement for that relocation will be forthcoming.

The June 28th, no minimum, no reserve auction of the Mt. Moriah Road real estate will include approximately a 257,000 square foot site with 23,466 square feet of dealership facilities.  This 5.9 acre site is zoned commercial C-H and has almost 500 feet of frontage on Mt. Moriah Road.

The existing structures include a larger building with two floors providing a combined square footage of over 20,000 square feet, all used to house a new car showroom, office administration, parts and service.  The large service area is about 9,000 square feet and is set up for 11 stalls.  Used car administration with detail and used car work in 4 stalls occupies the smaller building of over 3,300 square feet in size.

Mt. Moriah Road has been associated with the metro Memphis automotive industry as being a destination for well-known dealerships, shopping centers, dining and motels.

Interested parties may take a virtual tour of the grounds and facility through the website of the auction company at www.gtauctions.com .  “The showing schedule for the Mr. Moriah facility will be announced soon”, say G. W. Thagard, Vice President of Granger, Thagard and Associates, Inc., a Birmingham, Alabama based firm conducting the auction.  “The real estate showings will be set to accommodate the day-to-day operations of the dealership”, Thagard continued.

“This is an exciting opportunity for someone because the success that our Mt. Moriah location has brought has been amazing and for someone to be able to purchase it at a no reserve auction makes this an unprecedented opportunity.  Actually it’s because of this success that we’re having to re-locate to larger facilities.  Whoever purchases this site will be buying buildings that were built to ACURA NATIONAL standards, which I will freely admit are some of the highest in the automotive industry worldwide”, says Tom Acheson, a representative of the selling ownership.

He adds, “Our preference is to be a good steward of our own working capital and therefore create the real estate sale of the Mt. Moriah facility, as well as other selected locations in the Southeast, before our physical move to those quarters.  Our growing pains are welcomed.  This site has been very good to us and I expect the new facility on Ridgeway to carry on that tradition.  Going the route of selling by auction made sense to me as the seller, as it provides a known date of sale and thus an easier transition to our new quarters on Ridgeway Road”.

For additional information on the auction of the real estate or any personal property that may be offered separately from the real estate or to learn of the showing schedules that must accommodate the activities of the present day-to-day business, please contact Granger, Thagard and Associates, Inc. in Birmingham, Alabama at 800-996-2877.  You may visit www.gtauctions.com for more information or the virtual tour of the facility and grounds.

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