Truck Dealer Nextran Secures $39M Loan for Florida Dealerships
By Julia Echikson August 3, 2021 8:48 pm
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Semitruck company Nextran Truck Centers has recapitalized its portfolio of Florida dealerships with a $39 million loan from Wells Fargo (WFC), property records show.
The truck retailer has 11 locations across Florida, from Tallahassee to Miami.
Last year, the company opened a “state-of-the-art, full-service dealership” in Fort Lauderdale, at 4300 Ravenswood Road.
Other outposts in South Florida include a Pompano Beach location, which it uses as a rental and leasing facility, as well an outpost near Miami International Airport located at 6801 NW 74th Avenue, and in Riviera Beach at 7151 Industrial Drive.
In May, Nextran purchased Kansas City-based Westfall GMC Truck and Colorado-based Westfall-O’Dell. The acquisition expanded Nextran’s footprint from 18 locations in the Southeast to 25 locations across Florida, Georgia, Alabama, Missouri, Colorado, Kansas and Wyoming.
“Five years ago, we outlined an ambitious strategic plan that focused heavily on expanding our footprint and facilities,” Nextran CEO and President Jon W. Pritchett said in prepared remarks.
Founded in 1993, the trucking retailer sells medium- to heavy-duty trucks from major manufacturers, such as Mack, Volvo, Ford and Isuzu.
A Nextran representative did not immediately respond to a request for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
