T
he property formerly known as Gus Machado Ford in Hialeah has been sold for $19.3 million to an entity managed by Victor Benitez, according to records and real estate database Vizzda. The buyer secured a $15.4 million mortgage from City National Bank of Florida. Benitez serves as vice president, general manager, and majority shareholder of Gus Machado Ford, as per published reports. The dealership was originally purchased by Machado for $8.4 million in 1984, and he launched his eponymous car selling business the same year, which became one of the top-performing Ford dealerships in the country, as per published reports. Unfortunately, Machado passed away in 2022.

    In a separate transaction, entities managed by Machado's widow, Lilliam Machado, sold the land beneath a Ford dealership in Kendall for $20 million to Doral-based car dealer Luis Somoano. The property spans 7.3 acres at 15555 South Dixie Highway. In 2009, Somoano acquired Ford of Kendall, a 68,225-square-foot dealership without the land, from Machado.

    In other recent South Florida car dealership deals, Tampa-based Morgan Auto Group purchased Hollywood Kia, a 2.7-acre auto retail site in Hollywood, for $22.5 million in June. Richmond, Virginia-based CarMax acquired a 24-acre industrial site in Jupiter for $16 million, intending to convert the vacant land into a car auction lot. A Raleigh, North Carolina-based car dealer made its first foray into the South Florida market in March when Johnson Automotive Dealership Group paid $25 million for a Staples store in Miami's Edgewater, planning to convert it into a Kia showroom and dealership. Lastly, Hollywood-based Craig Zinn Automotive Group acquired a development site in Kendall for $23.5 million in January. The 8.3-acre property has been approved for a two-story auto retail building spanning nearly 76,000 square feet and providing 580 parking spaces.