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Like most brick-and-mortar stores, the auto part retail industry has its eye on online competition. The sector is countering this trend with new strategies and is bolstered by the fact that it is a stable one dominated by a small amount of well capitalized companies that are unlikely to have mass closures. AutoZone, as an example, saw no store closures in Q2 of 2019 and opened 35 new stores.

Another trend favorable to the space: the average length of vehicle ownership has been increasing over the last 10 years and car owners are spending more to keep their current car running as opposed to buying new. To stay competitive, auto part stores have been focused in on two specific clients: the “Do it Yourself” and the “Do it For Me” clients, according to Chad Firsel, founder of the Chicago-based Quantum Real Estate Advisors.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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