Net Lease Profile: O'Reilly Auto Parts
O'Reilly Auto Parts, with an S&P credit rating of BBB, started in November of 1957 with one store and thirteen employees. The long range plans and stable footing of the company were solidified by a public offering of company stock in 1993. And from 1997 to 2005, the company grew boldly through numerous mergers and acquisitions. With highly visible locations sticking out in both urban and suburban settings, O'Reilly curlently operates in 39 states, with a total of 4,000 stores and 23 distribution centers, thus ranking it in the top two auto parts distributors in the United States. Total sales for O'Reilly stores were $5.8 billion for the year ending 2011.†
O'Reilly Auto Parts is attractive to investors because they typically have an initial term of 20 years with up to four five-year renewal options. In addition, there can be rent increases spun throughout the base lease term and option periods as well.
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