Find Real Estate Agents and Homes for Sale


Real Estate News --> North Carolina News

Sonic casts wide net for EchoPark sites


CBRE has started its search for real estate in Texas, North Carolina and South Carolina. It has bought or is buying several sites. Sonic aims to eventually have EchoPark stores in more than 50 markets nationwide with 10 stores in each. It is also ...


Archived Story

--> × What's New News you need to know for Tuesday, June 7, 2016 Lincoln's VanDyke tapped as Ford of Europe marketing VP Why Americans reject build-to-order cars Cadillac puts final touches on retail overhaul Toyota looking to Texas sun for HQ power Ford drives Mustang to win Twitter engagement race in May Is the hatch back? TALK FROM THE TOP: Nissan's Munoz says most dealers are happy Ford in talks to build Lincolns in China, report says VW's Skoda brand mulls U.Ssales Nissan will keep pushing, Munoz says Search Search function myFunction() { document.getElementById("desktop-search-form").submit(); } Home CARS & CONCEPTS Auto Shows Detroit Chicago Geneva New York Beijing Shanghai Frankfurt Paris Tokyo Los Angeles Cars & Concepts Photo Galleries Future Product Pipeline Future Product News by Brand Cutaways Design NEWS BY BRAND Aston Martin BMW BMW Mini Rolls Royce Daimler Mercedes-Benz Smart Fiat Chrysler Alfa Romeo Chrysler Dodge Ferrari Fiat Jeep Lancia Maserati Ram Ford Ford Lincoln General Motors Buick Cadillac Chevrolet GMC Holden Opel Vauxhall Honda Honda Acura Hyundai Hyundai Kia Mazda Mitsubishi Nissan Infiniti Nissan PSA Peugeot Citroen Renault Dacia Renault Subaru Suzuki Tata Jaguar Land Rover Tesla Toyota Daihatsu Lexus Scion Toyota Volkswagen Audi Bentley Bugatti Lamborghini Porsche Seat Skoda Volkswagen Volvo Discontinued Hummer Maybach Mercury Pontiac Saab Saturn DEALERS Dealers 40 Under 40 Retail Best Dealerships To Work For Dealership Buy/Sell Top Dealership Groups Access F&I Fixed Ops Best Practices Marketing NADA NADA Convention NADA Make Meetings Sales Used Cars OEM/SUPPLIERS Automakers Executives 100 Leading Women Leading Women Network Rising Stars - OEM/Suppliers Executive Guide Talk from the Top All-Stars Europe Rising Stars Final Assembly PACE Awards Application Manufacturing Regulation & Safety Suppliers Top Suppliers List World Markets Asia China Europe Europe Congress World Congress OPINION Blogs Columnists Editorials Cartoons Letters Send Us a Letter VIDEO First Shift Auto News Now Interviews Viral Video DATA CENTER Analytic Engine Market Reports Dealer Incentives Data Tables & Lists U.SSales By Make U.SFleet Sales Total Certified Used Vehicle Sales Europe Sales Production - N.A. Customer Incentives Inventory, Franchise Data - U.SCar And Light-Truck Inventories And Sales Per Franchise Lists Top Dealership Groups Top Supplier Rankings Supplements Global Automotive Partnerships Guide To Certified Pre-Owned Vehicle Programs Guide To Industry Executives Market Data Books Used-Vehicle Prices Market Classifications China Data WEBINARS EVENTS Upcoming Events Europe Rising Stars Europe Congress Best Dealerships To Work For NY Marketing Seminar Leading Women Network Industry Events All Auto Shows All Dealer Events All Other Events JOBS Classifieds --> .adt-728x90 { width: 970px !important; } You are here: Home  » Dealers  » Dealerships  » Sonic casts wide net for EchoPark sites June 6, 2016 @ 12:01 am Comments Email Jamie LaReau SHARE Facebook Twitter LinkedIn Google+ 0 Shares $(document).ready(function () { // Get current URL from canonical tag var shareUrl = $("link[rel=canonical]").attr("href"); /*$("#share-options-close").text("x");*/ // Ajax request to read share countsNotice "&callback=?" is appended to the URL to define it as JSONP. $.getJSON('https://count.donreach.com/?url=' + encodeURIComponent(shareUrl) + "&callback=?", function (data) { shares = data.shares; shares.total = data.total; if (shares.total && shares.total != undefined) { $(".shares .shares-number").html(shares.total); } else { $(".shares .shares-number").html(0); } $(".share-count").each(function (index, el) { service = $(el).attr("data-socialcount"); count = shares[service]; // Divide large numbers eg5500 becomes 5.5k if (count > 1000) { count = (count / 1000).toFixed(1); if (count > 1000) count = (count / 1000).toFixed(1) + "M"; else count = count + "k"; } /*if (count == undefined) { console.log(service); count = 0; }*/ $(el).html(count); }); }); }); .social-links a { display: inline-block; padding: 20px; position: relative; top: 5px;} .article-facebook{ background:url("/assets/rwd/article/facebook.png") no-repeat; } .article-twitter{ background:url("/assets/rwd/article/twitter.png") no-repeat; } .article-linkedin{ background:url("/assets/rwd/article/linkedin.png") no-repeat; } .article-gplus{ background:url("/assets/rwd/article/googleplus.png") no-repeat; } .article-email{ background:url("/assets/rwd/article/gmail.png") no-repeat; } .article-print{ background:url("/assets/rwd/article/printer.png") no-repeat; } .article-reprints{ background:url("/assets/rwd/article/doc.png") no-repeat; } Retail EchoPark Jeff Dyke Sonic Automotive Sonic opened its first EchoPark used-car stores in the fall of 2014The company has hired CBRE Group to buy real estate for more outletsPhoto credit: TOM WOROBEC Sonic Automotive Inchas hired CBRE Group Incof Los Angeles to help it buy real estate as it prepares to expand its EchoPark used-car stores nationwideThe auto retailer plans to break ground on about two dozen EchoPark stores across Texas, North Carolina and South Carolina beginning late this year or early in 2017CBRE worked with Sonic on its first three EchoPark stores, which it opened in 2014 in DenverA Sonic executive says that the company needs CBRE's help because of the speed and scale at which Sonic plans to expand EchoPark nationwide"We're not building one or two stores here where the infrastructure inside Sonic can go out and buy a couple pieces of property," said Jeff Dyke, Sonic's executive vice president of operations"We're looking at building lots of stores, and we needed a partner that is the scale and size of CBRE to bring this to life." CBRE will buy greenfield real estate and existing dealership sites"In the very beginning we looked at just greenfield, but we've come across some facilities that can be converted, and we can get a good deal on the property," Dyke saidCBRE's Dealership Capital Group represents the top 200 U.Sdealership groups in matters ranging from buy-sells to debt and equity solutions, the company said. Mitchell: Match real estate with the brand. As it selects properties for Sonic, it will match real estate with EchoPark's brand, said James Mitchell, CBRE's first vice president of dealership capital services. "The target is four acres or so, but there has to be flexibility," Mitchell said"What trumps the real estate are the nuances of the brand, which are extremely specific. "We have to look at the market; population isn't enoughWe look at a certain demographic, growth and trendIt's building a brand that will be around for a long, long time." EchoPark's typical store design borrows from the hospitality industryIt uses softly lit, open-floor showrooms surrounded by large windowsThe stores offer interactive research areas for customers to find the car they want, with lounges and personalized vehicle delivery. Sonic opened its first EchoPark store in Denver in the fall of 2014 and soon added two satellite stores in the areaIt plans to open two stores in Colorado next month, one in Littleton and another in StapletonOn average, each of the five dealerships in Colorado sits on about four acres, Mitchell said. CBRE has started its search for real estate in Texas, North Carolina and South CarolinaIt has bought or is buying several sites. Sonic aims to eventually have EchoPark stores in more than 50 markets nationwide with 10 stores in eachIt is also considering moving into other countries, Dyke has said. Sonic, of Charlotte, N.C., is ranked No4 on Automotive News' list of the top 150 dealership groups based in the U.S., with retail sales of 138,129 new vehicles in 2015. You can reach Jamie LaReau at jlareau@crain.com -- Follow Jamie on Twitter: http://www.twitter.com/jlareauan Tags: Retail EchoPark Jeff Dyke Sonic Automotive 25 Shares .full-width.slider { color: #000000; width: 100%; min-height: 400px; } .full-width.slider, .full-width.slider .rsOverflow, .full-width.slider .rsSlide { background-color: #4d4d4d; } .full-width.slider .rsNav.rsBullets { width: 100%; right: auto; left: 0; bottom: 0px !important; } .full-width.slider .rsNav.rsBullets .rsBullet { cursor: pointer; padding: 0 10px; height: 12px; } .full-width.slider .rsNav.rsBullets .rsBullet span { height: 8px; width: 8px; } .full-width.slider .rsArrow { z-index: 40; } .full-width.slider .rsArrowLeft { right: auto; left: 7px; bottom: 7px; } .full-width.slider .rsContent > a .read-more { background: #000000; color: #ffffff; padding: 1px 10px; display: inline-block; } .full-width.slider .rsContent > a:hover .read-more { background: #4d4d4d; } .full-width.slider .rs-heading { background: #03396C !important; left: auto !important; max-width: 75% !important; overflow: hidden !important; padding: 5px !important; position: absolute !important; right: 0px !important; top: 210px !important; bottom: inherit !important; min-height: 50px; } .full-width.slider .rs-heading h1{ text-transform: none; right: 10px; position: relative; text-align: left; margin-left: 10px; line-height: 22px; font-family:Tahoma,Verdana,Segoe,sans-serif; font-size: 1.125em; font-weight:bold; color:#ffffff !important; background-color: #03396C; margin-bottom: 0px; } .full-width.slider .rs-heading p { color: #ffffff; } .full-width.slider .rs-heading.left { left: 10px; right: auto; } .full-width.slider .rs-heading.black { background: none repeat scroll 0 0 rgba(0, 0, 0, 0.75); color: #FFFFFF; } .full-width.slider .rs-overline { background: none repeat scroll 0 0 rgba(255, 255, 255, 0.5); bottom: 10px; left: 10px; top: auto; color: rgba(0, 0, 0, 0.5); font-size: 12px; line-height: 24px; font-weight: bold; padding: 0 10px; position: absolute; z-index: 25; } .full-width.slider .rs-overline a { color: #000000; } .full-width.slider img { max-width: none; padding-bottom:0px !important; width:100% !important; height: 100% !important; margin: 0px auto !important; display: block; } } @media screen and (max-width: 500px) { .slider.full-width { width:500px; } .slider.full-width img { max-width: 100%; padding-bottom: 0; height:134px !important; } .slider.full-width .rs-heading { background-color: transparent !important; opacity: 1 !important; display: block !important; -moz-transform: translate3d(0, 0, 0) !important; -ms-transform: translate3d(0, 0, 0) !important; -o-transform: translate3d(0, 0, 0) !important; -webkit-transform: translate3d(0, 0, 0) !important; transform: translate3d(0, 0, 0) !important; max-height: 100%; max-width: 100%; -moz-box-sizing: border-box; -webkit-box-sizing: border-box; box-sizing: border-box; top: auto !important; left: auto !important; bottom: auto !important; right: auto !important; position: relative; } } #left-article-content .rsThumbsArrowLeft .rsThumbsArrowIcn{ background: url("/assets/rwd/article/left-arrow.png") no-repeat center !important; width: 30px; height: 100px; top: 7%; left: 27%; -webkit-transform: rotate(180deg); transform: rotate(180deg); } #left-article-content .rsThumbsArrowRight .rsThumbsArrowIcn { width: 30px; height: 100px; top: 7%; left: 30%; } #left-article-content .rsThumbsArrowLeft{ opacity: 1 !important; width: 30px; } #left-article-content .rsThumbsArrowRight{ opacity: 1 !important; width: 30px; } #left-article-content .rsThumbsArrowRight .rsThumbsArrowIcn{ background: url("/assets/rwd/article/right-arrow.png") no-repeat center !important; } #left-article-content .rsOverflow grab-cursor{ height: 300px !important; } #left-article-content .rsMinW .rsThumbsHor{ height: 100px !important; } #left-article-content .rsMinW .rsThumb{ width: 200px !important; margin-top:13px !important; margin-right:0px !important; margin-left: 10px; } #left-article-content .rsMinW .rsThumbs{ background: #fff !important; top: 1px; } .read-more-desktop, .read-more-desktop .rsOverflow{ border-bottom: 1px #03396C solid; } #left-article-content .rsThumb img{ width: 55px !important; float: left; margin-right: 5px; padding: 5px; } #left-article-content .rsMinW .rsThumb.rsNavSelected{ background-color:#fff !important; } #left-article-content .rsMinW .rsThumb{ border-right: 1px #03396C solid; } #left-article-content .rsCaption{ color: #000; } #left-article-content .rsMinW .rsThumbsArrow{ background: #fff !important; } #left-article-content .read-next-text{ font-family:Tahoma,Verdana,Segoe,sans-serif; font-size: 1.125em; font-weight:bold; color:#ffffff !important; background-color: #03396C; padding: 10px; position: absolute; } .rsCaption{ font-family:Arial,Helvetica,sans-serif; font-size:; font-weight:600; color:#333333; } .rsMinW .rsGCaption{ background: none !important; } #left-article-content .rsMinW .rsThumbsArrowLeft{ height: 99px !important; bottom: 0px !important; left: 0px !important; } #left-article-content .rsMinW .rsThumbsArrowRight{ height: 99px !important; right: 0px !important; } .rsMinW .rsThumbsHor{ width: calc(100% - 60px) !important; margin: 0px 30px; } .full-width.slider .rsSlide{ background-color: #4d4d4d !important; } .full-width.slider{ background-color: #fff !important; } #left-article-content .rsThumbsContainer>div:first-child{ margin-left:0px; } #left-article-content .rsThumbsContainer>div:last-child{ border-right:none; } .full-width.slider .rsContent{ height:100% !important; } @media screen and (min-width: 1300px) { .full-width.slider img{ width: auto !important; } } Why Americans reject build-to-order cars Read Next Why Americans reject build-to-order cars Why Americans reject build-to-order cars Cadillac puts final touches on retail overhaul Read Next Cadillac puts final touches on retail overhaul Cadillac puts final touches on retail overhaul Virginia dealer group accuses Tesla of breaking state laws Read Next Virginia dealer group accuses Tesla of breaking state laws Virginia dealer group accuses Tesla of breaking state laws Audi's Philadelphia campaign Read Next Audi's Philadelphia campaign Audi's Philadelphia campaign New-vehicle shoppers: What website? Read Next New-vehicle shoppers: What website? New-vehicle shoppers: What website? Dealers Read Next Dealers Dealers The great divide on VW store prices Read Next The great divide on VW store prices The great divide on VW store prices 'The timing was perfect' for VW store investment Read Next 'The timing was perfect' for VW store investment 'The timing was perfect' for VW store investment $(document).ready(function($) { $( '.full-width.slider' ).royalSlider( { autoHeight: false, arrowsNav: true, loop: false, keyboardNavEnabled: true, controlsInside: true, imageScaleMode: 'fill', arrowsNavAutoHide: false, autoScaleSlider: true, autoScaleSliderWidth: 900, autoScaleSliderHeight: 400, controlNavigation: 'thumbnails', thumbsFitInViewport: false, navigateByClick: true, startSlideId: 0, autoPlay:{ enabled: true, pauseOnHover: true, delay: 5000 }, thumbs: { spacing: 10, arrowsAutoHide: true, arrows:true, firstMargin:true }, transitionType: 'move', globalCaption: true, deeplinking: { enabled: true, change: false } } ); $('.rsGCaption').insertAfter('.rsThumb img'); $('.royalSlider .rsThumbsArrow') .css({position: 'absolute', top: 'auto', height:50,bottom:0, left:-20 }) .appendTo('.royalSlider') .filter('.rsThumbsArrowRight') .css({left:'auto', right: -20}); } ); Read Next Why Americans reject build-to-order cars Cadillac puts final touches on retail overhaul Virginia dealer group accuses Tesla of breaking state laws Audi's Philadelphia campaign New-vehicle shoppers: What website? Dealers The great divide on VW store prices 'The timing was perfect' for VW store investment $(function() { readNext.guid = null; readNext.article(); }); if (CCI.Disqus != 'undefined') { /* * * CONFIGURATION VARIABLES * * */ var disqus_shortname = CCI.Disqus.disqus_shortname; var disqus_identifier = CCI.Disqus.disqus_identifier; try { var disqus_title = decodeURIComponent(CCI.Disqus.disqus_title); } catch(e) { var disqus_title = unescape(CCI.Disqus.disqus_title); } var disqus_url = CCI.Disqus.disqus_url; try { var csProdCheck = location.href.match(/http:\/\/(www|europe)\./); } catch(e) { var csProdCheck = false; } if ( (csProdCheck && !disqus_shortname.match(/dev$/)) || (!csProdCheck && disqus_shortname.match(/dev$/)) ) { (function() {

Trending North Carolina News:


  • Capped enrollment at Wake schools affecting where families choose to live
  • Gay marriage question heading to NC Legislature before Democrats' convention, tough elections
  • DeRonja Real Estate Hires Wendy Preble
  • Duke Realty Leases to Novella - Analyst Blog
  • Head for the Hills: North Carolina real estate market heats up
  • Asheville will sue over water merger bill
  • Sophia, NC Homes For Sale & Real Estate
  • Realtor In Charlotte NC Announces Sellers Market
  • Dunn, NC Homes For Sale & Real Estate
  • Social House Vodka to Launch this Summer in North Carolina
  • Trick Or Treat, Buy A Blue Chip REIT
  • New SC laws go into effect on New Year’s Day
  • Real-estate report: Website lauds Columbus as great for retirees
  • NC gave out a record $245M in energy tax breaks. Here’s who benefited.
  • Tropical Storm Warning, Watch Continues In North Carolina
  • Clark joins ReMax as real-estate agent
  • What To Expect During The Closing Process
  • Christian Laettner forced into Chapter 7 bankruptcy filing by creditors
  • Website recognizes Landfall
  • North Carolina company opens location in Webster