A Florida-based car dealer has accelerated its footprint in Denver by buying the real estate of a short-lived local competitor.
An entity affiliated with AutoNation, which sells new and used cars in 18 states, bought the lot at 8120 W. Tufts Ave. in southwest Denver this week for $11.2 million, according to public records.
The 4.6-acre lot off Wadsworth was previously home to CarLotz, which operated there from summer 2021 to last November. The Richmond, Virginia-based company sold used cars on consignment, merging with San Francisco-based Shift in December after closing many of its locations and seeing its stock price plummet.
The southwest Denver property was sold by BC CarLotz LLC, which bought the property for $9.9 million in January 2022, records show.
AutoNation did not respond to requests for comment on the purchase. According to its website, the company has 300 locations, roughly 20 of which are in Colorado.
In 2021, AutoNation paid $8.8 million for a Littleton shopping center, keeping its largest tenant in place while turning a portion of the property’s parking lot into a used car lot.