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Central Cadillac


hindesky

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They have moved out all the used vehicles across the street. I believe Central owns at least 3 lots in Midtown. McGowan building, the used car lot between Travis and Milam and another lot on Milam and W. Gray.

UVAUsq3.jpg

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I live in the building in this picture.

This lot has been empty since early summer (but mostly full during the height of Covid). The lot on Milan is also empty. Even the main facility on Main and McGowen is less full. I have no idea as to longer term plans here, though Cadillac has stated a national intension to significantly reduce the number of dealerships.

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I heard that all of their land is and has been for sale for awhile, but they want like $125/sf. 

10 minutes ago, Brooklyn173 said:

I live in the building in this picture.

This lot has been empty since early summer (but mostly full during the height of Covid). The lot on Milan is also empty. Even the main facility on Main and McGowen is less full. I have no idea as to longer term plans here, though Cadillac has stated a national intension to significantly reduce the number of dealerships.

Yep, Cadillac is offering to buy out franchises as part of the shift to electric-only vehicles by the end of the decade. I would imagine that this dealership in particular does really well on vehicle maintenance, which electric vehicles need significantly less of. 

Owner also bought the Kirby Mansion a few years ago http://swamplot.com/midtown-kirby-mansion-sold-to-midtown-car-dealership-owner/2018-08-20/

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While back I talked with 2 Central Cadillac workers, they said they would be moving into the new south loop dealership summer of 2022. Reason I started this was for future potential uses for the 2 maybe 3 lots they own around here. The main dealership land is pretty good size.

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Car lots all over the country are emptying out due to lack of supply of new vehicles, so it's also possible they may be consolidating their car lots.  This is a good time to do the move to the South Loop when they are down on inventory.

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On 10/8/2021 at 3:43 PM, wilcal said:

Strictly a rumor, but I'm told that Central Houston Auto payed an exorbitant amount for this property, thinking that a high rise might be built there.
Unfortunately for them, TXDOT revealed its I-45 expansion plans soon afterward which could create a construction nightmare, and the property value plummeted.

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18 hours ago, dbigtex56 said:

Strictly a rumor, but I'm told that Central Houston Auto payed an exorbitant amount for this property, thinking that a high rise might be built there.
Unfortunately for them, TXDOT revealed its I-45 expansion plans soon afterward which could create a construction nightmare, and the property value plummeted.

A couple things wrong with that rumor:

(1) TXDoT’s plans were well known before Central Houston Auto bought this property.

(2) the effect of TXDoT’s plans on this property is probably positive, not negative.

 

Edited by Houston19514
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