Irvine Co. Sells Parcel to BMW Dealership

The Irvine Co. in Newport Beach has sold a seven-acre parcel in the Irvine Spectrum to the Irvine BMW dealership for an undisclosed sum.

The dealer plans to move next week to the 9000 block of Research Drive, to a site that is three times larger than its current location on Oldfield, said Damon Shelly, who owns the franchise.

“We’re in gridlock at our current facility,” Shelly said. He declined to say how much the move will cost.

The dealership sold 1,700 cars last year, said Shelly, who also owns a BMW franchise in Buena Park and a Mercedes-Benz dealership in Long Beach.