By Kate Snyder
An automotive firm based in West Covina is expanding its holdings in northern California. Envision Motors has purchased three of dealerships in the Sacramento metropolitan area, according to a report by the Sacramento Business Journal.
The three Mercedes-Benz dealerships located in Arden-Arcade, Rocklin and El Dorado Hills were sold for a total of $69.7 million. According to the report, the 40,559 square foot property at 1000 Mercedes Lane in El Dorado Hills was sold for $21.9 million, or about $538 per square foot, and the 70,152 square foot property at 4747 Granite Drive in Rocklin was sold for $25.7 million, or approximately $365 per square foot. Property records show that the 56,788 square foot dealership at 1810 Howe Ave. in Arden-Arcade was sold for $22.2 million, or approximately $391 per square foot. All three deals closed in January.
The seller was Von Housen Automotive Group, which had announced last year that it would be selling those three dealerships to Envision Motors, which is based in West Covina, according to industry reports.
Von Housen Automotive Group was founded in 1958, according to information from the Greater Sacramento Economic Council, and had annual sales exceeding $301 million with more than 4,000 in vehicle sales and 335 employees locally.
Envision Motors is an auto dealership group in Southern California that represents brands including Mercedes-Benz, Audi and Toyota, according to the firm’s LinkedIn page.
“It is the mission of Envision Motors to provide the best retail experience for all our customers, and to provide our employees with the best conditions in which to work in,” Envision Motors’ website states. “It is our goal to employ the very best, most driven, and ethical individuals, who realize that through hard work, one can achieve any goal imaginable.”
Sacramento has seen other auto dealerships trade hands in the past six months.
Last year, Price Simms Family Dealerships, one of the largest privately held automotive groups in Northern California, acquired Downtown Ford from the Victory Automotive Group. According to previous reporting from The Registry, the property involved in the sale was located at 525 N. 16th Street in Sacramento and ultimately purchased for $11 million.