BLOOMFIELD HILLS, Mich. -

International transportation services company Penske Automotive Group Inc., on Friday announced it has signed a letter of intent with Porsche Cars North America, to construct a new dealership that will serve as a flagship property for the Porsche brand.

This new dealership, to be located in Broward County in southern Florida, will represent the company's seventh Porsche dealership in the United States and 15th worldwide.

In being awarded the Open Point from Porsche Cars North America, Penske said it will build the state-of-the-art, world-class dealership to represent the Porsche brand on more than 7 acres of property located along Interstate 75 in Davie, Fla. 

Construction is expected to be complete in the second quarter of 2015.

Dubbed Porsche of West Broward, estimates from Penske anticipate the new dealership will generate approximately $125 million in annualized revenue. 

"We are thrilled to expand our affiliation with Porsche and expect this new dealership to be a flagship property for the Porsche brand,” said Whitfield Ramonat, Penske Automotive Group Central Region executive vice president.

“The new dealership will afford us the opportunity to scale operations within our existing Florida footprint,” he said, “and it provides an outstanding growth opportunity for our company.”