WOBURN - A Norwood-based car dealership will reportedly takeover Lannan Chevrolet’s flagship business off of Winn Street in a sale that should be consummated by the beginning of March.
During the latest virtual gathering of the City Council, local attorney Joseph Tarby, joined by Lannan Chevrolet and second-generation family business president Peter Lannan, revealed that DCD Automotive Group has agreed to purchase the nearly 70-year-old dealership by Woburn Center.
Tarby appeared before the City Council to ask the city officials to approve the transfer of Lannan’s first class auto sales license, even though the real-estate transaction’s closing date is still a few weeks away.
According to the petitioner, the early license transfer was being requested because the Mass. Registry of Motor Vehicles (RMV) has reportedly indicated in might take as long as six weeks to finalize its own approval of the dealership sale in a separate licensing process.
The council, finding the local sales license paperwork from the tentative new owners in order, unanimously consented to the transfer. There was no debate or council commentary prior to the vote.
“The applicant is a very experienced auto dealer who owns and operates DCD Automotive Holdings, The 4 Corner Automotive Group, and the New Car Automotive Group,” said Tarby, referring to DCD CEO Daniel Dagesse.
“We’ve been informed by the RMV that their backlog due to COVID issues is four-to-six weeks for issuing licenses. In this case, it would be for this location to continue as a service facility as well as to issue RMV tags to the dealership,” the atttoney elaborated.
The late Steve Lannan Sr., who along with business partner Charles Ungerman established the Winn Street Chevrolet and Oldsmobile sales lot by Library Park and the Woburn Police Station back in 1954, over the next half-century grew the Woburn-based business into one of the most successful car dealership’s in the state.
Besides the original Woburn site, the family brand has since expanded to include at least one dealership in Lowell. It’s not immediately clear if those other sites are part of the sale to DCD Automotive.
Since the family patriarch’s passing in 2001, Lannan’s three sons have managed the business, with Peter Lannan serving as company president, according to corporate filings with the state.
The Winn Street dealership, which employs roughly 60 people, sits on a 2.68-acre parcel of land that runs to the corner of Harrison Avenue. The business includes a 24,726 square foot building that houses a showroom, various offices, and a vehicle service center.
The city’s assessor’s office values the real-estate alone at around $3.22 million.
Recently acquiring several dealerships in New Hampshire, DCD Automotive Holdings Inc. was founded by Dagesse, who for years managed a handful of sales lot for Ernie Boch. In 2015, he created the Boch Automotive Group after purchasing several South Shore dealerships, including a sales lot in Norwood, from his former employer.
According to Tarby, his client expects to finalize the sale in the early days of March.