CarMax Purchases Land in St. Peters
After getting Aldermanic approval to open in St. Peters, the used car retailer recently closed on the purchase of the property.
CarMax Auto Superstore is one step closer to coming St. Peters.
According to a report on CoStar.com, CarMax Auto Superstores, Inc. recently put the finishing touches on acquiring the 17.02 acres at 4990 N. Service Rd. in St. Peters. The report says CarMax paid $3.2 million in cash, or about $188,000 per acre, for the property from Hill Behan Lumber Co.
Purchasing the land comes just a little more than eight months after the St. Peters Board Aldermen unanimously approved a special use permit for a CarMax Auto Superstore to open at the location. Back in the last meeting of 2011, Aldermen gave the green light to CarMax, despite some objections to the used-car nature of the dealership.
During the Dec. 7 meeting, Ed Griesedieck, an attorney representing St. Charles Nissan, Hyundai and Isuzu, said approving CarMax as a standalone used car sales facility would be unfair to other car dealers in St. Peters. Griesedieck told the board that existing dealerships were required to sell new cars in addition to used cars when they came to St. Peters.
The city staff report said that while CarMax is a used car dealer, it operates much like a new car facility in presenting and selling its vehicles. CarMax does auction off older models or higher mileage cars, but the auctions are open only to car dealers, not the public.
CarMax attorney Jeff Wagner said the company projects $75 million in sales, which will benefit the area and add anywhere from 80 to 100 new jobs. The building would be a new design and would cost $10 million.
“This is not your mom and dad’s used car lot,” Wagner said in December.
The site plan for CarMax was approved by the Planning and Zoning Commission in November.