APG Capital Secures Long-term Tenant for High-Valued Asset

Westgate Auto Group, a leading owner-operator of ten new, used, and luxury car dealerships across North and South Carolina has added the Auction Direct USA brand to its portfolio. In an acquisition facilitated by Jim Anthony of APG Companies, the deal closed as of December 1, 2024.

Known for its high-visibility location at 7601 Glenwood Ave in Raleigh, Auction Direct has been a staple in used car sales in upstate New York and North Carolina. The 8.52-acre site, strategically positioned along US Hwy 70, has been owned by Oberlin Investors and managed by Jim Anthony of APG since 2007.

As part of this acquisition, Westgate Auto Group has signed a 10-year NNN lease with an option to purchase the property with an existing 20,000+ square-foot facility, ensuring the continued operation of the used-car business under the Auction Direct USA banner. This marks the 7th dealership under the Westgate Group in the Raleigh-Wake Forest area. All employees of Auction Direct were retained.

“We at APG are so pleased to have seen a business miracle. In less than 30 days from start to finish, and with zero interruptions to the business, APG and Ehsan Khani’s team negotiated and closed a business purchase, alongside a large property negotiation. This is great news for Raleigh and for the parties involved,” stated Jim Anthony.

For more information, please contact MJ Parker, Director of Marketing and Research, at mjparker@apgcre.com or 919.582.3136.