Dec
19
Group One buys Smicklas Chevrolet
Filed Under Chevy Cars
Details of the transaction were not disclosed.
Only the franchise, parts and vehicles were included in the purchase, John Smicklas said.
“We retained the land and buildings,” he said.
In a related move, Smicklas acquired the former Steak and Ale Restaurant at the intersection of May Avenue and Northwest Expressway for $680,000. The seller was S&A Properties.
John Cohlmia and Louis Almaraz of NAI Harrison Levy handled the real estate transaction.
“We have leased that land to Group One for expansion of the dealership,” Smicklas said.
The dealership sale was completed last week, shortly after the Oklahoma Motor Vehicle Commission approved transferring the dealership license to Group One.
Brad Smicklas, John’s son and partner, will remain with the new dealership as general manager.
Most of the other 150 employees will remain with the new dealer.
