Closing Dealerships Spell Opportunity
"'This potentially represents a sea change in the availability of commercial real estate,' said Len Bierbrier, president of Bierbrier Development of Lexington. 'You never see this many terrific opportunities to acquire usable land.'
General Motors Corp. and Chrysler LLC will close the dealerships because they aren't selling enough cars. But the large lots they occupy - along highways as well as major suburban streets - are considered prime locations for other types of businesses.
Bierbrier is working from a list of 35 Eastern Massachusetts dealerships, trying to find locations that could support shopping centers or mixed-use developments. Some of the dealerships on his list are still operating, and Bierbrier is trying to be respectful of owners who are still seeking to save their businesses, he said.
He intends to acquire some of the properties in coming months and will spend the next year or two securing permits for his redevelopment plans."