Augusta National reportedly buys local Pep Boys for nearly $7 million

Augusta National reportedly buys local Pep Boys for nearly $7 million

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Augusta National reportedly buys local Pep Boys for nearly $7 million

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Augusta National’s expansion apparently isn’t slowing down.

Just two months after the Masters host reportedly paid Jay’s Music Center, a local music store, $5.35 million to relocate, the braintrust at Augusta National may now have another purchase out in the ether.

According to ABC News Channel 6, Augusta National has purchased a local Pep Boys property, based on Washington Road, for roughly $6.9 million. CBS News 12 adds that property records show that sale number to be just under $6.9 million. The outlet notes that the sale reportedly took place in November.

If you’re counting, that means two reported purchases in two months (the Jay’s property was sold on Oct. 13) that combine for over $12 million. This latest report continues a trend of Augusta National buying up properties as it looks to expand down Washington Road near Berckmans Road.

The timeline for the Pep Boys’ move and/or closing is unclear.

Jay’s Music Center will relocate to a building further down Washington Road in early 2017 at Augusta National’s behest, per the November report. The $5.35 million figure was eight times more than the property was valued at ($637,900), according to Richmond County real estate records.

At the time of the reported sale, Jay’s Music Center Owner Doug Frohman noted money wasn’t the only thing at play. There was also the context of what he saw around him, as he’d noticed businesses surrounding his being bought up by Augusta National-affiliated limited liability companies over the last decade or so.

“Even though we’re not a destination-type store, it’s one of those things where you don’t want to be isolated to that point,” Frohman said in November.

Augusta National has bought land in recent years for Masters parking, hospitality areas and a new practice facility and media center.

According to the local outlets, a Walgreens, Wendy’s and Olive Garden are the only businesses left between the Old Berckmans Road and the new one that haven’t been bought by Augusta National.

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