Car dealer Prince buys land adjacent to Grand Island

LEESBURG, Ga. — Despite speculation that has run rampant since it became common knowledge that the Lee County land adjacent to the Grand Island Club on Ledo Road was for sale, there will be no new development on the land anytime soon.

But because one of South Georgia’s most successful automobile dealers — John B. Prince III — recently completed the purchase of the 7.79 acres of land, speculation has only intensified.

“There’s no story at this point,” Prince said Monday. “I bought a piece of land that was about to be forclosed on, and I got it for what I think is a good price. It’s premature to speculate about anything to do with that land, other than to say I made a business purchase.

“I still have a two-year lease at my current location in Albany (Prince Chevrolet, 1001 S. Slappey Blvd.), and I have five three-year renewables in place. So there’s absolutely no decision that’s been made about that land.”

The Ledo property, previously owned by John Gay, is a development jewel that has long been the subject of purchase rumors by any number of businesses, depending on who was doing the talking. The Lee County Commission cleared the way for Prince’s eventual purchase at its March 8 meeting when the board approved a zoning change requested for the property.

Lee County Chamber of Commerce Director Winston Oxford said the county is fortunate to have Prince interested in the community.

“John and I go back over 30 years,” Oxford said. “I am a former car dealer, and John and I served on the Georgia Automobile Dealers Association Board together. I’ve always thought the world of John as a businessman, as an automobile dealer and as a man of his word, and I learned a great deal from him over the years.

“It’s good to have people of his business caliber interested in Lee County property with the potential for more investment to come in the future.”

Prince started building his automobile empire in Tifton, where its corporate offices are still based, in 1966, and he’s since expanded into the Albany, Valdosta and Douglas markets. His daughters, Heather and Heidi, and his son, Jay, are all part of Prince’s corporate team, which was previously named the Georgia Family Business of the Year.

“Some time around February of 2012, I’ll start looking at making a decision on what, if anything, I’ll do with the (Lee County) property,” John Prince said. “It will depend on a lot of economic factors. No one knows when the next earthquake will hit or when gas will go up to $4 or even $5 a gallon. All of those things will weigh into my decision.

“But at this time, I have not talked to an architect, I have not talked to a builder. … I’ve done nothing but buy some property that I think will be a good investment. This time next year, there might be a story.”