Newton car dealer continues expansion with $7M Leominster purchase
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Matt McGovern bought a three-acre property in Leominster, which is home to Route 2 Hyundai.
Adding to a growing real estate portfolio, car dealer Matt McGovern bought a $7-million property with a Hyundai dealership in Leominster on Wednesday.
McGovern is the owner of Newton-based McGovern Auto Group, which has nearly 20 local outposts throughout Greater Boston, with a few in New York and New Hampshire.
The Leominster dealership is a nearly three-acre property sprawling from 707 to 745 North Main St., according to the Worcester North District Registry of Deeds. Under the previous owner, it was known as Route 2 Hyundai.
The property was sold by an entity registered to Michael DiPlacido, the president of Route 2 Hyundai. DiPlacido has owned the property since 2004, when he bought it for $2.9 million. It is currently assessed at about $3.1 million by the City of Leominster.
The dealership is located off North Main Street in Leominster, which runs parallel to Route 2 next to the Fitchburg Municipal Airport.
It’s one of many projects McGovern has taken on in the last couple months. In January, he closed on a deal purchasing a six-acre gardening business in Westborough, for which he paid $2.5 million. In February, the Town of Shrewsbury approved the first permits for McGovern to redevelop a former industrial site on Route 9 into a collision center.
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