TUCSON, ARIZONA -- Pep Boys Supercenter at 4491 E Speedway sold in a net lease investment sale for $3.75 million ($164 PSF). A San Diego investor purchased the 22,815-square-foot store built in 1982 on 2.37 acres with grade level roll up doors for ten service bays and showroom/retail store.
Pep Boys as an essential retailer remained open during the pandemic.
Philadelphia-based Pep Boys has operations in 47 US states and Puerto Rico. Major markets for the company include California, Florida, Pennsylvania and Texas, home to nearly half of its stores. Pep Boys also has warehouses in California, Georgia, Texas Indiana, New York and Pennsylvania.
An automotive paradise or do-it-yourselfers, Pep Boys stock about 25,000 car parts and accessories, including tires and combined, operate more than 7,500 service bays for vehicle repairs, inspections and parts installations. It also offers credit and parts delivery to commercial customers, such as repair shops, fleet operators, schools and municipalities. Founded in 191 by Philadelphians Manny, Moe and Jack, Pep Boys was acquired by billionaire investor Carl Icahn's Icahn Enterprises in February 2016.
Simon Assaf with Matthews Real Estate Investment Services of Phoenix handled the transaction.
For more information, Assaf should be contacted at 949.873.0275.
To learn more, see RED Comp #8795.