Last updated on May 15th, 2019 at 04:58 pm
An affiliate of Oakbrook Terrace, Illinois-based Ed Napleton Automotive Group, a third-generation car dealership operator with more than 80 stores in four states, has purchased four properties in Brookfield, including two Safro Automotive Group dealerships, for a total of $33.8 million, according to state records.
The properties were sold by JR Safro T Properties LLC, JRS Holding Inc. and S&T North Shore LLC, according to state records. John O. Safro is the agent for JR Safro T Properties and Jeanne Safro, dealer principal for Safro Automotive Group, is the agent for JRS Holdings and S&T North Shore.
Ed Napleton Automotive Group has been in talks to purchase three dealerships from Brookfield-based Safro Automotive Group. According to state records, the real estate transaction for two of those deals have closed.
Ed Napleton Automotive Group purchased the Toyota of Brookfield property, at 20655 W. Capitol Drive, for $21.6 million and the Lexus of Brookfield property, at 20001 W. Bluemound Road, for $6.44 million. The properties are assessed for $12.3 million and $3.3 million, respectively.
The company also purchased a 9.6 acre parcel of land (map below) near the Safro Toyota dealership, at 21220 Gumina Road, for $903,400. That parcel is assessed at $406,900.
A 23,000-square-foot industrial building on 5.35 acres at 19455 Janacek Court in the Town of Brookfield was also purchased by Ed Napleton Automotive Group. The property is assessed at $1.7 million.
Bruce Etheridge, chief operating officer at Napleton Dealership Group, said the dealerships will continue to operate as is under Napelton’s ownership.
“We only lost one employee of 275 through the entire transition,” Etheridge said. “We are excited to keep things just the same. There are wonderful people up there, great employees and we have no reason to change anything.”
In February, Gina Safro, director of marketing for Safro Automotive Group, posted on LinkedIn, that Napleton would become the new owners of two stores in Brookfield and the Lexus dealership at 1433 W. Silver Spring Drive in Glendale.
Safro could not immediately be reached for comment.
Safro Automotive was founded in 1962 by Jack Safro as a used car dealership in Pewaukee. The Toyota dealership opened in 1967 and the Lexus Glendale dealership opened in 2001.