Andy Mohr Automotive Group has agreed to pay about $1.3 million to buy 17.6 acres of land from the Indianapolis Airport Authority at Interstate 465 and West Washington Street for a new dealership, the company confirmed Wednesday.
The high-profile property is bordered by I-465 on the east, South High School Road on the west and Howard Street to the north. Washington Street is a block north of the site.
Airport Authority spokesman Jeff Dutton said the sales agreement allows Mohr to perform due diligence and seek zoning approval before closing the sale.
The airport also must obtain approval from the Federal Aviation Administration to sell the land.
The land purchase is being handled by Andy Mohr subsidiary Anton Realty LLC.
Brad Todd, president of Andy Mohr, declined to provide details about the plan for the site or a timetable for its development. He said more information would be made available once the company closed on the property purchase.
Mohr already operates more than a dozen auto dealerships in Indianapolis, Avon, Fishers, Plainfield and Bloomington that range in size from 4 acres to 40 acres. Its brands include Ford, Lincoln, Chevy, Toyota, Scion, Nissan, Buick, GMC, Mitsubishi, Honda, Hyundai and Volkswagen.
The company sold more than 20,000 new and used vehicles in 2015. It also owns the Andy Mohr Truck Center in Indianapolis, which sells Ford and Volvo trucks, and Provident Insurance Group, which sells auto, home and recreational vehicle insurance.
The airport authority has been trying to sell or lease more than a thousand acres of land around the former airport terminal site as part of the IAA Land Use Initiative.