Dallas plant of aerospace and defense manufacturing company RTX, formerly Raytheon Technologies, has been sold to Georgia-based Asbury Automotive Group. The 15-acre site at 6000 Lemmon Ave. near Love Field will now house luxury vehicles like Porsches.
The purchase price along with other information about the transaction was not disclosed. RTX declined to provide details about the terms of the lease, and Asbury released word of the deal in a news release Tuesday..
In 1946, a factory was built and its value based on the Dallas Central Appraisal District is approximately $17. 5 million. After some time, Asbury Automotive will build a Porsche dealership on this site. The old industrial plant is expected to start being demolished starting from 2025 with the construction ending in mid-2027.
This will also allow Asbury to construct a state-of-the-art Volvo service garage adjacent to the Park Place Volvo at the intersection of Lemmon Avenue and Inwood Road.
The Mercedes-Benz and Porsche dealershipsThe sale comes after RTX last year announced it would close its Dallas plant in notices filed with the Texas Workforce Commission. With upwards of more than 6,000 employees in the area, according to the website of the company.
Before Raytheon’s ownership, the industrial plant had belonged to Texas Instruments who made the first commercially produced silicon transistor from a Lemmon Avenue facility that existed on the property in the 1950s. “The company also designed and manufactured the first transistor radio.”. very close to the old Raytheon was located, belonged to Asbury Automotive.
Asbury Automotive took ownership of the two dealerships after it purchased eight dealerships in the Dallas-Fort Worth area from Park Place at a cost of $735 million in 2020. As the Area Vice President at Park Place Dealerships, Tony Carimi says that Dallas people love expensive cars, and in his company, they try their best for clients to have maximum comfort and feel that they are special while driving their luxury cars.
The Lemmon Avenue plant was taken over by Raytheon in 1997 when Texas Instruments sold its defense unit to them.
