Tenant: O’Reilly Auto Parts | Garner, NC
Premises: 7,225 SF
Renewal Options: 4 x 5 Years
Lease Expiration: 10/15/2037
Lease Type: NN
Rental Increases: 6% in Year 10
In Cooperation with Sands Investment Group North Carolina, LLC
BoR: Chris Sands – Lic # 300021
O’Reilly Automotive, Inc. (NASDAQ: ORLY) is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, serving both professional service providers and do-it-yourself customers. Founded in 1957 by the O’Reilly family, the Company operated 5,021 stores in 47 states as of December 31, 2017.
On July 11, 2008, the company completed the largest acquisition in its history with the purchase of CSK Auto, adding 1,273 stores in 12 states. This, combined with past acquisitions, made O’Reilly the third largest auto parts chain in the country after Advance Auto Parts and AutoZone. In December 2012, O’Reilly announced it was purchasing the auto parts business of VIP Parts, Tires and Service, a Lewiston, Maine-based chain of 56 auto parts stores and service centers with locations in Maine, New Hampshire, and Massachusetts, and one distribution center in Maine. The purchase marked the firm’s expansion into New England. On October 26, 2016, O’Reilly announced that it was acquiring Bond Auto Parts, a 51 store chain headquartered in Vermont with locations in New Hampshire, Massachusetts, and New York as well.