Sweeney Showrooms, Land Sold for $18.4M
YOUNGSTOWN, Ohio – The land and buildings that comprised Sweeney Buick GMC and Sweeney Chevrolet along Market Street in Boardman sold Friday for more than $18.4 million, according to records from the Mahoning County Auditor’s office.
The dealership announced at a press event on Jan. 20 that it had officially sold its business to #1 Cochran, a Pittsburgh-area auto dealer group. Sweeney announced in December that the parties had reached an agreement.
Terms of the entire sale were not disclosed. The auditor’s office records just the transfer of real property, such as land and buildings.
According to the auditor’s website, the 7.4 acres and building at 7997 Market St. that housed Sweeney Buick GMC sold to Cochran MVRE LLC for $12.9 million. The building consisted of the dealership’s showroom, a service area, sales offices and sales lot. The property is appraised at $5,022,240 for tax purposes.
Records show that the land and building was owned by Youngstown Buick GMC Co.
A 9.6-acre service lot at 80 Karago Ave., formerly owned by Camec Ltd., that adjoins the rear of the Buick GMC property sold for $1.03 million. It was appraised at $161,000, records show.
The auditor’s records show that a third property owned by D&D Realty Holdings LLC, which served Sweeney Chevrolet’s former showroom, offices and sales lot at 8010 Market St., sold for $4.5 million. The auditor appraised the land and building at $2,559,830 for tax purposes.
The Sweeney dealership, which got its start as Stearns Motor Co. in 1921, celebrated its 100th anniversary in 2021.
During an emotional press conference Friday, Sweeney president and CEO Alexa Sweeney Blackann formally announced the dealership’s sale to #1 Cochran.
“Many people may not realize how difficult a decision this was for my family and me,” Blackann said.
Nearly all 200 of Sweeney’s employees will be transferred to #1 Cochran.
Published by The Business Journal, Youngstown, Ohio.