View Full Version : CarMax coming to OKC area



Patrick
09-30-2004, 12:57 AM
Well, a new car seller is coming to the metro area. Looks like they're filling another big box vacated by a Wal-Mart company, Sam's Club.
I'm glad to hear another big box property get converted to another use. The Edmond car dealer strip is becoming quite impressive. I'm willing to bet that Broadway Extn. has more cars than the Mile in Norman. Just a guess though...I have not facts or statistics to back this one up.

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"Car retailer buys Sam's Club site on Broadway
By Tricia Pemberton
The Oklahoman

A former Sam's Club and its adjacent shopping center on the northeast corner of Memorial Road and the Broadway Extension will be converted into a car lot within the next two years.
CarMax Inc. of Richmond, Va., recently bought the property for $5.2 million from local owner HMFIC No.1 LLC, said Jim Buchanan, a broker with Gerald Gamble Co. who represented the seller.

The sale includes a former Sam's Club, vacant since 2001; Gold's Gym; Broadway and Memorial Tag Agency; The Unfinished Furniture Store; and additional retail space in a 130,000-square foot strip mall as well as 10.5 acres of land, Buchanan said.

Louis Almaraz with NAI Harrison Levy in Oklahoma City and Gordon Valentine of Insignia Thalheimer of Richmond, Va., represented CarMax in the sale.

CarMax Inc., founded in 1993, is in the midst of adding its 56th location nationwide. This will be the publicly traded company's first entrance into the Oklahoma market.

Lisa Van Riper, assistant vice president of public affairs for CarMax Inc., said Oklahoma City, with its prospective 1 million to 2 million customers, represents the perfect mid-size market for the company.

"We can build awareness quickly in this market," Van Riper said.

Van Riper explained the company is a used car retailer, not a dealer, that stocks between 300 to 500 cars of every make and model at any one time.

"We offer low, no-haggle prices. The price on the car is the price you pay, and its the same price your would see on our Web-site. These are the prices you would get after haggling for two hours at a dealer's."

Midtowner
09-30-2004, 07:39 AM
I think the market has is already saturated.

Unless they come in with great prices or something to that effect.

Patrick
10-04-2004, 01:29 AM
I agree! I tend to wonder how they're going to compete with Bob Howard!!!!