Hubbard says that the buyer was looking for a building that not only fit its size and location requirements but also would provide ample parking--enough for more than 400 vehicles--to accommodate the O'Reilly Automotive work force. Although a number of other buildings were large enough, the San Michele Distribution Center was the only one that met the parking requirement, Hubbard says. The new O'Reilly distribution center is was developed in 2008 by the seller, Newport Beach-based Alere Property Group, which was represented by Kevin McKenna of CB Richard Ellis.
O'Reilly, which was established in 1957 in Springfield, recently acquired CSK, which operates a chain of automotive parts stores under the names Kragen Auto Parts, Checker Auto Parts, and Schucks Auto Supply. The Moreno Valley facility is one of three new distribution facilities in the West for O'Reilly, which also has new distribution centers in Seattle and Denver, according to the company's latest annual report.
O'Reilly, which now has more than 3,800 stores nationwide, is a publicly held firm that reported comparable store sales for stores open at least one year increased 6.2% and 2.6% for the fourth quarter and year ended Dec. 31, respectively, at a time when many retailers are reporting lower comparable sales. Company officials said in their earnings conference call that one reason for their comparable store results is that many consumers are making the decision to keep and maintain cars that they might have traded in during better economic times.
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