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twitterHonda West part of deal
Thursday, Feb. 7, 2002 | 9:37 a.m.
Honda West's dealership at 7615 W. Sahara Ave. is the only Nevada property involved in the deal.
A Capital Automotive spokesman said the REIT is acquiring only the land the Honda West dealership sits on. The dealership's building is not included in the deal, and Sonic Automotive will retain ownership of the dealership. No operational changes are expected at Honda West.
Bill Steers of Capital Automotive, which is headquartered in McLean, Va., said the deal is "simply a restructuring of the costs associated with operations -- Sonic wants to free up capital they have tied up in real estate."
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