Foundation Hyundai of Boulder property sells

BOULDER — The central Boulder property where Foundation Hyundai Boulder sits changed hands in early March for just more than $9.62 million, about nine months after the dealership business was purchased.

The seller of the property at 2555 30th St., according to Boulder County real estate records, is Atlantic Boulder LLC. 

That entity is not registered with the Colorado Secretary of State, which is very unusual for a company involved in a recorded real estate transaction. There is, however, an entity called Advantage Motors LLC that is registered to the 30th Street address.

The buyer is 2555 30th Street LLC, public records show, a holding company registered to a residence in Boulder.

The property was built in 1973 and includes a nearly 9,000-square-foot showroom on nearly two acres. 

It sold in 2013 for $2.4 million, Boulder County property records show.

Last year, Foundation Automotive Corp., a group of about two dozen auto dealerships, acquired Boulder Hyundai from owner Jeff Baca, who retired. Terms of that deal were not disclosed.

Auto dealerships across Colorado are being purchased at an unprecedented rate, reflecting a national trend toward consolidation in automobile retailing that has impacted multiple local dealerships.

About 25% of Colorado’s 260 dealership locations have either been sold this year or are under contract to sell, the highest percentage in history, Tim Jackson, president and CEO of the Colorado Automobile Dealers Association, told BizWest in early 2022.

Less than 5% of dealerships change ownership in a normal year, Jackson said.

“The industry overall has seen consolidation on a growing scale, but this year it’s kind of off the charts,” he said.

In Boulder, recent M&A activity includes Gebhardt Volkswagen’s sale to Fred Emich IV and Pollard Jeep’s sale to Fowler Auto Group.

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