Piazza Auto Group has purchased the property of Main Line Ferrari Philadelphia, an upscale auto dealer that is zooming westward in a Delaware County relocation. Paul Schwedelson got in gear to report the Montgomery County transaction in the Philadelphia Business Journal.
The Piazza acquisition comprises two Bryn Mawr deeds:
- A 36,314-sq.-ft. showroom at 1234 E. Lancaster Ave.
- A 4,997-sq.-ft. car repair building at 1227 E. Lancaster Ave.
Main Line Ferrari paid $13.3 million and $2 million for the sites, respectively, in transactions spanning 2021–2022.
Prior to ownership by Main Line Ferrari Philadelphia, the location housed Porsche of the Main Line, which moved to a nearby building.
What Piazza plans for its new real estate remains to be announced.
The Piazza Auto Group, which got its start with a franchise in Norristown, owns and operates 17 car dealerships in the Phila. suburbs; its Montgomery County addresses (encompassing various brands) are in Pottstown, Ardmore, and Limerick.
More on this property title change for Piazza Auto Group is at the Philadelphia Business Journal.
