UPDATED: February 6, 2017 6:45 PM — Peacock Automotive has south Maitland's Don Reid Ford dealership and its related 10 acres under contract with an expected closing in the next two weeks, and is considering redevelopment of the property with more modern showrooms and service buildings.
(**UPDATE** Affiliates of Peacock Automotive and Orlando-based Famlee Investment Company paid more than $14 million combined on Feb. 1 for the property, according to two deeds recorded on Feb. 6 in Orange County.)
The property at 1875 S. Orlando Ave. is comprised of five parcels totaling 9.7 acres that straddle Monroe and Elvin avenues, directly north of the 73-acre Ravaudage development. The property includes new and used car sales lots, a related body shop and vehicle parking.
Warner Peacock, president and CEO of Peacock Automotive, met with Maitland planning staff in late November to review requirements for changes to the property, which falls within Maitland's Downtown Zoning District. Attorney Becky Wilson of Lowndes, Drosdick Doster Kantor & Reed, P.A., has provided legal services to the prospective buyer.
Peacock filed a new sign permit request on Jan. 12 to change the dealership's name to Peacock Ford, according to Maitland city staff. Another meeting is scheduled for Monday with the city to discuss future redevelopment.
Executives with Peacock Automotive and Don Reid Ford did not respond to requests for comment on Friday, and a price for the land and business could not be confirmed. Employees at the dealership said the pending sale has been announced internally, and staff have been told they'll be retained.
Don Reid Ford has been in business for more than 50 years at the site in Maitland.
Donald L. Reid, who died in 2001 at age 73, acquired the dealership that now bears his name in 1974, after working there for eight years under original founder Johnny Bolton. The dealership is now managed by one of Reid's sons, Russell "Rusty" Reid.
A native of Tallahassee, Warner Peacock has a long history of investing in, developing and entitling properties for a variety of commercial real estate uses across the Southeast.
He began buying and operating auto dealerships in Florida in 1985, following in the footsteps of his car salesman grandfather, and his father who owned a dealership.
Peacock Automotive now has 17 dealerships across South Carolina, Georgia and Florida, including one locally -- Subaru South Orlando.
He's a principal in Winter Park-based real estate development consultancy First Team Commercial, which has been involved in multiple local auto dealership developments. Peacock also serves on the board of Winter Park-based Floridian Financial Group, and is the president and CEO of Coastal States Automotive Group, LLC, and its subsidiaries.