Business & Tech

Melrose Dodge Lot Up For Auction

Dealership closed in 2009 after federal judge approved Chrysler's bankruptcy plan

The former Melrose Dodge dealership and adjacent North Shore Pontiac-Buick-GMC dealership in Malden, a combined value of $6.45 million, will go up for auction on Thursday, June 10.

Melrose Dodge closed in June 2009 after 18 years in business, the result of Chrysler LLC's bankruptcy plan to end franchise agreements with dealerships around the country. Chrysler filed its plan in U.S. Bankruptcy Court in May 2009 and, despite appeals by Melrose Dodge and some of the other 788 dealerships marked to lose their franchise agreements in the plan, a judge approved the plan a month later.

The dealership closed almost immediately and Melrose Dodge's 21 employees were reassigned to North Shore Pontiac-Buick-GMC, an adjacent dealership also owned by Melrose Dodge's parent company, New Hampshire-based Key Auto Group. North Shore Pontiac-Buick-GMC also ultimately closed last year.

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Appraisals conducted in January this year valued the Melrose Dodge lot at $2.45 million, according to auction firm Paul McInnis, Inc., based out of North Hampton, NH, which has been retained to conduct the auction on June 10.

The almost 5-acre Melrose Dodge property also includes the 22,755 square-foot dealership building. The North Shore Buick-Pontiac-GMC lot was appraised at $4 million and, like the Melrose Dodge lot, the 4.2 acre lot includes a 38,616 square foot building, as well as 40 service bays in the garage.

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The properties can be bid on individually or combined, with a minimum bid for both lots combined of $3 million, less than half of the appraised value of the properties. 

In a statement provided to Melrose Patch, Paul McInnis Vice-President Christopher McInnis said, "This is a very interesting auction opportunity for the bidding public because of the variety of buyers these properties appeal to ... the combined parcels total approximately nine and a quarter acres. This is a very substantial land area with an enormous amount of frontage on Route 99. An opportunity that certainly does not come along everyday in this area."


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