Virginia Beach dealership site for sale, more than 20 vehicles up for auctionAtlantic Auto & Truck Sales, an independent automobile dealership, sits on the Virginia Beach Motor Mile."It's the best area to have a car lot anywhere in the seven cities," said Williams Summs, president and CEO of Norfolk-based Atlantic Asset Management Group.Now the car lot, less than a mile from Town Center, is up for sale for $1.5 million and all of its remaining inventory — including cars, trucks and SUVs — is up for auction.AdvertisementAdvertisementSumms, who deals in auctions, real estate, appraisals and marketing through his business, has owned the property since 1986. He is liquidating all of the remaining inventory — more than 20 pre-owned vehicles — through a public and dealer online auction. The bidding started at noon on Monday and will close at noon on Saturday.Vehicles include a 2007 Jaguar XK, 2015 Subaru Forester, 2018 Nissan Pathfinder, 2019 Dodge Grand Caravan Passenger, 2020 Jeep Cherokee, 2023 Chevrolet Malibu and 2023 Hyundai Kona."We have video of every car inside and out with the car running," Summs said. "All of the cars have gone through rehab and reinspection. There's nothing wrong with any of them."Consumers interested in inspecting vehicles on the lot can do so between 11 a.m. to 2 p.m. on Thursday. They can also check out the vehicles up until noon on Saturday when the auction concludes.AdvertisementAdvertisement"It's open to the public to come over there, take a look, and buy the vehicles," Summs said, noting third-party warranties are available. "The idea is we need to sell all of those cars because that location is no longer going to be active. It'll be some other dealer that will take it."The property itself has been an auto dealership dating back to the late 1950s and has had approximately six different owners leading up to Summs' purchase, he said. Checkered Flag leased it for five years to showcase its used car outlet. He is also willing to lease it again."The state took about half the lot when they enlarged Virginia Beach Boulevard," Summs said. "But it's still a viable car dealership. It can put 40-plus cars on that lot. It's worked well for us and other tenants."For more information on the auction, visit atlanticremarketing.com.Sandra J. Pennecke, 757-652-5836, [email protected]
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