One of the largest automotive lots along the Market Street corridor could have a new owner in the next 30 days, according to a broker overseeing the transaction.
 
Garry Silivanch, vice president of office and investment properties for Wilmington-based Coldwell Banker Commercial Sun Coast Partners and vice president with Team Silivanch, said Monday that an unnamed buyer has placed the former Britt Motorsports location at 6418 Market St. under contract.
 
Silivanch said the potential buyer is not an automotive group.  
 
Britt Motorsports, a company that sold and built custom motorcycles out of salvaged Yamaha motorcycles on the site, closed its Wilmington and Fayetteville locations in December 2012, shortly after its owner, Scott Britt, filed for Chapter 11 bankruptcy in 2011.
 
The automotive firm’s closure joined a number of vacant vehicle lots along the Market Street corridor that some area brokers jokingly called “dead clunker alley” during the economic downturn.
 
But that could be changing, mostly because of an improving economy and new repurposed uses for a number of the structures. 
 
The nearly 23,000-square-foot structure sits on a 2.3-acre lot along Market Street and is fully air conditioned and heated with 22-foot high ceilings, Silivanch said.
 
If all parties involved in the transaction reach an agreement, Silivanch said officials could close on the site sometime next month.