Folsom Automall dealership under contract to change hands

Published: Thursday, Apr. 3, 2014 - 2:49 pm

The Chrysler Jeep Dodge Ram dealership in the Folsom Automall is under contract to change hands in the coming weeks, but the new operator of the franchise at the leased site has not yet been disclosed.

The dealership at 12545 Folsom Blvd., is currently operated by the locally based California Superstores Automotive Group.

California Superstores recently disclosed notice of its intention to lay off nearly 100 workers, noting that “the dealership is in the process of being sold and is scheduled to close down under the current legal entity on May 4, 2014.”

However, Michael Luca, a CBRE vice president who is part of the commercial real estate services firm’s auto dealership specialty group, said it’s likely that most or all of the current workers will be employed by the new dealership operator, a common occurrence when dealerships change hands.

In its notice of upcoming layoffs, California Superstores noted that the dealership’s buyer “has indicated that it desires a smooth transition and anticipates reopening under a new legal entity on the same day as the closing … From an operational perspective, there may be noticeable difference upon the closing.”

Call The Bee’s Mark Glover, (916) 321-1184.

Read more articles by Mark Glover

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