CarMax to open in Frederick, MD

CarMax to open in Frederick, MD

CarMax, the used car superstore, has bought more than 12 acres of land near Frederick, MD and plans to open another used car operation there by 2013 or 2014.

The site, currently an unimproved lot at the intersection of Urbana Pike and Lowes Lane, is next to the Riverview Plaza shopping center, which includes a Target, Home Depot and Staples.

CarMax said it had received permission for a 36,000 square foot building, though it does not yet have the approvals to open a dealership.

CarMax began as a single used car dealership in Richmond, VA in 1993 and has since grown to 105 vehicle retail outlets with $7.69 billion in annual revenue. Within the Washington metro market, CarMax already has stores in Rockville and Laurel, MD and Sterling and Woodbridge, VA. It also operates five new-car franchises and, at any given point in time, offers more than 30,000 cars for sale online at set, non-negotiable prices.