Suzuki roars into Panama City with $10M property purchase

Panama City

PANAMA CITY, Fla. (WMBB) – Suzuki Motor of America, Inc. purchased about 18 acres of land in Panama City.

The purchases being made in December of last year according to documents on the Bay County Property Appraiser website.

The company bought a little more than two acres of vacant commercial space for $420,000, 10 acres of vacant industrial space for $4M and 5.97 acres from Marine Transportation Services located on Frankford Avenue.

The purchase from MTS costs Suzuki close to $6.2M and contains two office buildings, one which looks to be heavily damaged from Hurricane Michael.

The combined purchase price was a little more than $10 million. See a breakdown of the purchases here.

The majority of the land is waterfront on North Bay.

According to Suzuki Motor of America, Inc.’s website, the company markets motorcycles, ATVs, scooters, Outboard engines, and Automotive Parts and Accessories through an extensive dealer network throughout 49 states.

Sources tell News 13 this land will be used for building a research and development facility to test boats and motors.

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