CBRE has completed the sale of a Southern Maryland automotive dealership portfolio totaling 12 locations, in a transaction described as one of the region’s largest automotive retail deals in recent years. The nearly $500 million sale encompassed the operating businesses, owned real estate and the assumption of select property leases, indicating a comprehensive transfer of both the underlying assets and ongoing dealership operations.
The portfolio, concentrated across Southern Maryland, represents a sizable network of franchised auto retail sites positioned within the broader Baltimore-Washington, D.C.-Richmond corridor. According to CBRE, the combination of brand mix and geographic coverage across this territory created a scaled platform that was attractive to buyers seeking a significant foothold in the market in a single transaction.
CBRE’s Auto Dealership Capital Markets team led the assignment on behalf of the seller. The team was headed by James Mitchell, Executive Vice President, along with professionals Erin Rice and Artin Sepanian. They represented the seller in marketing the portfolio and in negotiating the transaction through closing, aligning both the real estate and operational components under a single buyer.
The buyer is Brandon Steve of Brandon Steven Motors (BSM). Prior to this acquisition, BSM held 21 dealerships across Kansas and Los Angeles. With the addition of the Southern Maryland portfolio, BSM’s platform now exceeds 30 dealership locations nationwide, extending its presence across three states and moving the company from a primarily Kansas and Los Angeles footprint into the Mid-Atlantic region.
CBRE highlighted that the portfolio’s scale within Southern Maryland and its coverage of key brands provided a rare opportunity for a purchaser looking for immediate regional density. The transaction structure, which combined owned properties, dealership operations and selected assumed leases, underscores the integrated nature of modern auto retail investments, where buyers evaluate both the real estate and the performance of the operating business.
In commenting on the deal, CBRE’s James Mitchell noted that the portfolio is one of the most comprehensive auto retail networks in Southern Maryland. He emphasized that its concentration of brands and coverage along the Baltimore-Washington, D.C.-Richmond corridor made the offering particularly compelling to an acquirer aiming to quickly scale in this part of the Mid-Atlantic. The completed sale adds to the tally of large-format auto retail portfolio trades and signals ongoing investor interest in scaled dealership platforms linked to both real estate and operating company value.
