- Tritec News
Despite sale of company, new Dealertrack HQ moving forward
In the wake of the news of an Atlanta-based company’s $4 billion acquisition of Dealertrack Technologies, local officials are receiving assurances that the planned 233,000-square-foot headquarters in North Hills is still on track and will continue to move ahead.
Currently located in Lake Success, Dealertrack, which provides software applications for auto dealers, is being purchased by Cox Automotive, a division of Cox Enterprises, which also owns vehicle-marketing platforms Kelley Blue Book and AutoTrader.
Dealertrack, which has about 500 employees on Long Island, has signed a lease for a new headquarters on 9 acres in North Hills where it planned to relocate.
According to Dealertrack spokesman Michael DeMeo, those plans haven’t yet changed despite the company’s sale.
“The deal should close in the third quarter,” DeMeo said. “We’ll know more after that.”
When asked if Cox plans to move the Dealertrack Long Island operations to Georgia, DeMeo said: “Our plan is still to remain here.”
Site work on the new North Hills complex has already begun. The land has been cleared and drainage installation is underway, according to Robert Coughlan, a principal of East Setauket-based Tritec Development, the company that’s building the new headquarters at a cost of more than $100 million.
“We’ve been assured they are going forward,” Coughlan told LIBN.
Read the full article in Long Island Business News.