Financial Times FT.com

Auto dealer closings dent property market

By Alan Rappeport in New York

Published: May 25 2009 19:10 | Last updated: May 25 2009 19:10

The closure of US car dealerships will put pressure on another stressed industry: commercial property.

While many dealers will try to sell used cars or focus on other brands, the raft of expected closures will leave property that is difficult to fill because dealerships are considered “special purpose” properties. Many expect the result to be acres of empty parking lots.

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