Park Place Dealerships Expansion Plans
In an exciting move, Park Place Dealerships, which operates under Asbury Automotive Group, Inc. (NYSE: ABG), has finalized its acquisition of 15 acres of prime land in Dallas. This strategic purchase marks a significant step for the dealership and is poised to enhance its presence in the luxury automotive market.
New Luxury Dealership Development
This newly acquired property is set to host a modern Porsche dealership, aimed at delivering the high-end experience that Park Place is known for. Plans are already in motion with demolition expected to kick off early in the upcoming year, followed by construction that is anticipated to wrap up by the second quarter of 2027.
Providing a Seamless Experience
In addition to the Porsche dealership, this development will also include a cutting-edge Volvo service center adjacent to the existing Park Place Volvo dealership. The goal is to provide clients with a top-notch, seamless experience that combines both showroom and service offerings on a singular, convenient property.
Commitment to Luxury Automotive Experience
“Dallas has always held a strong appreciation for luxury vehicles,” said Tony Carimi, Area Vice President of Park Place Dealerships. “At Park Place, our mission is to provide an outstanding luxury experience, a reputation we've built over the past 37 years. The location of this new property is strategically advantageous, being just a short distance from our current dealerships and a few minutes from Love Field Airport, making it accessible for both Porsche and Volvo enthusiasts.”
Community Impact and Growth
David Davidson, Partner at Davidson & Bogel Real Estate, shared, “Creating this unique opportunity for Asbury and Porsche at a prime location is a remarkable achievement. Park Place’s development will breathe vibrancy into one of the most trafficked areas in Dallas, contributing significantly to the city’s identity as a hub for luxury vehicle sales.”
About Park Place Dealerships
Since its inception in 1987, Park Place Dealerships has actively engaged with the community, supporting various initiatives related to the arts, medical research, children's advocacy, and education. Today, the dealership employs over 1,400 team members across nine full-service locations, representing prestigious luxury brands such as Lexus, Mercedes-Benz, and Land Rover. With offerings that also include Park Place BodyWerks Collision Centers and the Park Place Auto Auction, the dealership has carved out a significant niche in the automotive landscape.
Asbury Automotive Group Inc.
Asbury Automotive Group, Inc. (NYSE: ABG), a prominent player in the automotive retail landscape, has its headquarters in Duluth, GA. The company continues to expand its footprint and revenue through strategic growth initiatives and by leveraging innovative technologies. By the end of 2024, Asbury operated a robust network of 153 new vehicle dealerships, catering to a diverse selection of both domestic and international brands. Their commitment to exceptional customer service has earned Asbury recognition as one of America’s Fastest Growing Companies for 2024.
Frequently Asked Questions
What type of dealership is Park Place developing?
Park Place is developing a luxury Porsche dealership along with a Volvo service center.
When is construction expected to be completed?
The construction is expected to be completed by the second quarter of 2027.
What is Park Place’s mission?
The mission of Park Place is to deliver an exceptional luxury experience to its clients.
How long has Park Place been in operation?
Park Place has been operating since 1987, contributing to the community and luxury automotive market.
Who owns Park Place Dealerships?
Park Place Dealerships is a part of Asbury Automotive Group, Inc., which is a Fortune 500 company.
