Auto dealer Carvana buys I-4 site for 8-story 'car vending machine'

Phoenix-based online auto dealer Carvana.com has purchased land fronting Interstate 4 for its first Orlando-area "car vending machine."

Carvana, which opened delivery service in Orlando this past spring, paid $1.6 million for the 2.84-acre parcel on the 3500 block of Rio Vista Avenue, directly north of the Harley Davidson dealership and Toyota of Orlando that front I-4 with Vineland Road access.

The sale closed on Nov. 21, and the deed was filed with Orange County Dec. 1. The seller was an affiliate of Jacksonville-based real estate developer Sleiman Enterprises.

Carvana sells pre-owned vehicles, and opened its first fully automated, coin-operated car vending tower last year in Nashville. The five-story, glass-enclosed tower fronts on I-65. A writer for The Tennessean compared it's sleek lobby to an Apple Store:

"Upon entry into the lobby, a customer receives an oversized coin that they place into a machine, cueing music and illuminating the vehicle tower. The coin triggers an automated process where a machine spins and grabs the vehicle, bringing it to a track that delivers the car to one of three bays. The customer can then test drive or leave with their new car."

Online auto dealer Carvana paid $1.6 million for this 2.8-acre parcel near the I-4 - John Young Parkway interchange. The company is seeking a building permit for an 8-story car vending machine tower. (Orange County Property Appraiser)

At eight stories, the Orlando tower would have the capacity for 32 vehicles. The company filed a Master Plan request with the City of Orlando in May for the 70-foot-high tower, and submitted its latest construction plans on Nov. 30. Orlando's Interplan is civil engineer on the project.

Each car buyer is issued a special coin that activates the "vending machine." A robotic arm secures the vehicle and delivers it to a bay, where the buyer can test drive it for seven days. (Denise Retallack / Carvana)

Launched in 2012, Carvana bills itself as the nation's fastest growing online auto retailer. Spokeswoman Kate Carver said projected revenue for 2016 is $350 million. The company closed a $160 million Series C funding round in August, bringing total funding to $460 million.

Company officials have declined to comment on the specific plans for the Orlando dealership.

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