The Pep Boys - Manny, Moe & Jack, commonly referred to as Pep Boys, is an automotive service and aftermarket parts chain.
Pep Boys net lease properties typically feature a 15-year NNN leases, providing for either 1.5% annual bumps or 8% rental increases every five (5) years. Pep Boys utilizes a larger building footprint with six (6) to eight (8) service bays attached to the retail storefront. This is important for two reasons. First, with a cost segregation study, landlords are able to capture significant amount of accelerated depreciation. Second, landlords have relatively large buildings and land parcels (17,000-22,000 square foot buildings on approximately 2 acre lots), which offer advantageous options for re-use and/or redevelopment.
Pep Boys is engaged in automotive repair and maintenance, and the sale of automotive tires, parts and accessories. Competitors include Advanced Auto Parts, AutoZone, and O’Reilly Auto Parts. The Pep Boy store product line includes tires, batteries; new and remanufactured parts for domestic and import vehicles; chemicals and maintenance items; fashion, electronic and performance accessories, and a limited amount of select non-automotive merchandise for automotive do-it-yourself customers, such as generators, power tools, personal transportation products, and canopies.
On 1/23/2017 Pep Boys announced the acquisition of Just Brakes, increasing the number of Pep Boy locations to over 900.