Used vehicle retail giant CarMax is planning to build a service facility and auction space in the northern Colorado city of Fort Lupton.
The project, to be built just to the north of the city, will see the creation of nearly 71,000 square feet of service space, as well as another just under 5,000 square-foot facility that will be used for auctions.
Additional space of around 1,000 square feet will be used as a staging and fueling area, and also for vehicle washing.
Based in Richmond, Virginia, CarMax is a fast-growing national retailer with around 250 locations.
The company’s business model is simple and straightforward: car owners can list their vehicles online for sale with CarMax, while would-be car buyers can review and purchase a car, also primarily online – all without the participation of a typical used car lot salesperson.
What has been frequently called a “hassle-free” form of car transaction has netted up to $19 billion in revenue for the company, whose typical locations measure around 59,000 square feet.
The company has an equally thriving auction service, with auctions often scheduled on a weekly and biweekly basis.
CarMax currently has four store locations in Denver, and one each in the cities of Colorado Springs and Golden.
By Garry Boulard
