Used car dealer and repair facility expected to open newest location in Laurel this summer
Lee & Associates Maryland has brokered a 35,000 square foot lease to Carbiz, a used car dealership and repair facility at 8751 Freestate Drive in Laurel, Maryland. This represents the second location for the concept which is expected to be operational by July 1, joining the flagship operation on Reisterstown Road in Baltimore City. Allan Riorda, Principal and President of Lee & Associates Maryland represented the tenant and Rick McCoy of Konterra Realty represented the landlord, Freestate Owner, LLC in this transaction.
Carbiz is considered Maryland’s largest independent auto dealer and offers a full line of service areas including pre-owned automobile sales, auto loans and financing and certified service department.
Constructed in 2002, 8751 Freestate Drive is a single-story, 105,000 square foot industrial building contained on approximately seven acres of land. It features 24 foot ceiling heights and eighteen loading docks. The building is located within immediate proximity to US Route 1 and MD Route 32, and is approximately two miles from Interstate 95. Both Baltimore and Washington, D.C. are approximately 20 miles away, while Annapolis is 15 miles from the site and Columbia is less than a 10-mile drive.
According to CarbIz CEO Evan Berney, the company intentionally chose a site near its major competitor, CarMax, so customers would be better able to recognize the higher value and better pricing model available with his concept. ”There is no question in my mind that we can consistently win customers over,” Berney explained. “And, with this location, it will be easier for them to shop and compare.”
Carbiz is currently scouting sites throughout the Maryland-Washington, D.C.-Northern Virginia region to fulfill its program of opening additional locations.
“Based on exact site specifications provided by Carbiz, encompassing regional demographics, relative proximity to competitors, access to highways, building size and available parking, our team conducted a multi-County search to identify projects that best suited the real estate needs of the company,” stated Allan Riorda of Lee & Associates. “8751 Freestate Drive offered the most advantages, especially given its strategic location with direct access to four major markets. The fundamentals of the building, with its large open space design and flexibility, perfectly accommodates its operations.”
“The car-buying model is rapidly changing as consumers are gravitating towards a fixed-cost, completely transparent environment with an emphasis on service and immediate delivery,” added Berney of Carbiz. “We believe there exists tremendous opportunity for our concept to compete with traditional car dealerships that do not focus on the secondary market. With this second location, we are perfectly position to expand the Carbiz brand into a suburb of Washington, D.C. and build market share. We are located at the virtual axis of major highways in the Baltimore-Washington region, which provides a significant advantage.”
Carbiz ships vehicles for free within 100 miles of its stores. The showroom features open meeting booths, foosball tables and arcade games. The Silicon Valley-styled showroom is designed to be a destination to showcase the more than 200 vehicle inventory.
Carbiz features a “no-haggle” below-market pricing formula, free delivery to a consumer’s door, a “no questions asked” five day return policy, complimentary one-year and 14,500-mile certified powertrain coverage. The company also offers 100% on-line purchasing and free vehicle shipping within a 100-mile radius.
About Lee & Associates
Celebrating more than 37 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in North America with locations across the U.S. and Canada including Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Maryland, Michigan, Minnesota, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, Vancouver BC, Washington and Wisconsin. With almost 900 brokers, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional, national and international level. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn and Twitter.
