Nashville-based man Lee Beaman announced Thursday that he will sell his auto dealership empire, adding his highly visual Broadway in Midtown to the Hudson Automotive Group in Charleston, South Carolina.
Scheduled to end this fall, the deal will come with two Beaman Automotive dealerships in Nashville, locations in Murfreesboro and Dickson, and “all existing stocks and assets,” according to a statement. The company has about 450 employees.
The terms of the agreement are disclosed.
It should be noted that the press release does not specify whether Beaman will sell the Midtown assets from where Beaman Toyota operates. This great site has been discussed for years as the most productive for disapproval. Similarly, the Reed Circle of Family Assets, home to the Subaru and Hyundai dealerships, and located across from Broadway from the Beaman site, is under contract to be sold to Houston-based Hines progress company (read here). A primary re-and-see of the site is planned, with multiple skyscrapers.
Founded through George “Hoolie” Hudson in 1948, Hudson Automotive is led by CEO David Hudson and employs more than 1,500 people. It has locations in Tennessee, Kentucky, Ohio, Georgia, Louisiana, North Carolina and South Carolina.
With Beaman Automotive’s 2019 reported annual revenues of $414.1 million, the looming sale will involve what the release describes as “two of the largest automotive dealer groups in the Southeast region.”
Beaman’s portion warehouse division, which will be part of the sale, ranks among the 20 most reasonable wholesale sales, similar to the brands Beaman represents. The automatic collision center, considered the largest in central Tennessee, is also a component of the transaction.
The Midtown dealership has a large capacity of 1525 Broadway.
Beaman, who has made headlines in the afterlife as one of the highest parties to vocal conflict of the transit proposals of Mayors Karl Dean and Megan Barry, complimented David Hudson, CEO of the company, and Hudson Automotive Group.
“My father Alvin Beaman founded this company in 1945, and it wasn’t until 3 years after David’s grandfather presented Hudson Automotive … in Providence, Kentucky,” said Beaman, the company’s chief executive. “Your commitment to doing well for your workers and consumers is unprecedented.”
Alvin Beaman with a Chrysler dealership and expanded to arrive with a Pontiac dealership in the early 1950s at the site where Beaman Midtown’s business remains.