The owner of a used-vehicle business since 2007 has purchased a franchised dealership in Center Point, Iowa, north of Cedar Rapids.
Alex Tovstanovsky, who with his family owns Prestige Motor Works in Naperville, Ill., on July 28 bought Junge Center Point, a Ford-Chrysler-Dodge-Jeep-Ram store.
The dealership has been renamed Sky Automall and Tovstanovsky plans to grow the dealership and add more staff.
“Owning and operating a new-car franchise dealership representing five of our country’s top automakers is a dream come true,” Tovstanovsky, who came to the U.S. at age 7, said in a news release.
Junge Center Point was a family-run store for more than 30 years, said Jason Junge, who owned the dealership with his father, Gary Junge.
Jason Junge said they sold the store because “there was an interested party. It made sense. Timing is everything.”
Junge Automotive Group is retaining a Lincoln-Volvo-Mazda store in Hiawatha, Iowa, and a Ford-BMW dealership in North Liberty, Iowa, plus body shops.
The Arenson Law Group in Cedar Rapids represented the seller in the transaction, while Chicago lawyer Ira Levin represented the buyer.