Pat Hays Buick has sold its property on Cathedral Street to the University of Baltimore for $4 million.
The property sold to UB consists of a 40-space parking lot, the dealership's showroom, offices and service area at 1111 Cathedral St. and two office buildings at 1101-1103 and 1105-1107 Cathedral St.
Paul G. Hays Jr. said yesterday he decided to sell the property where he has sold Buicks for the last 17 years because it is tough to operate if your dealership sells just one make of car.
"To survive these days, dealerships must have two or four different types of franchises," he said.
Hays, 60, said he is considering selling the dealership or relocating or merging with another auto dealer.
Whatever happens, Hays said he intends to find a new home for the dealership. The dealership employs 45 to 50 people.
"There will be a ownership of a Buick franchise somehow with somebody," Hays said.
UB President H. Mebane Turner said the institution plans to use the property for its law clinic and to create 600 parking spaces. He said the university is losing about 280 parking spaces on another lot because of construction of the light-rail system.