Piazza Auto Group pays $30.7M for Otto's BMW property in West Chester, rebrands dealership
Otto's BMW and Mini at 1275 Wilmington Pike has been rebranded as BMW and Mini of West Chester.
Piazza Auto Group has added to its holdings along Wilmington Pike in West Chester.
Chester County records show the auto group recently paid $30.7 million for the property home to the former Otto's BMW and Mini, which were recently rebranded as BMW of West Chester and Mini of West Chester.
The seller was MLV Family Limited Partnership, an entity linked to Otto's owners Lisa and Michael Vadasz. Otto's BMW opened in 1968.
The dealerships, located at 1275 Wilmington Pike, are now listed on Piazza's website as part of its growing automotive portfolio. Piazza declined to comment about the purchase.
BMW and Mini of West Chester is located on 6.8 acres near the Penn Oaks Golf Club and along the east side of Route 202/322.
Piazza Auto Group also owns Mercedes-Benz of West Chester, which is on the west side of Wilmington Pike facing the BMW dealership. Records show Piazza purchased the 10-acre property in May 2022 for $20.5 million from an affiliate of Capital Automotive Real Estate Services, a firm that owns dealerships nationwide.
Farther south, Piazza also owns Hyundai, Mazda, Acura, Mini and Land Rover dealerships clustered together near the corner of Wilmington Pike and Brintons Bridge Road. The four parcels all front Wilmington Pike and total 11.2 acres.
In November, Piazza bought the property of Ferrari Philadelphia in Bryn Mawr for $13.3 million.
The Piazza family has also proposed an 18-acre mixed-use development in King of Prussia that calls for hundreds of new apartments, a parking garage and tripling the size of an existing office building.
In Ardmore, Piazza’s plans for a five-story building with 279 apartments, 62,000 square feet of commercial space and a parking garage have been approved.