Heard on the Street: New landlord takes wheel of auto parts store
It looks like a Rochester auto parts dealer picked up a new landlord recently.
A real estate investment firm out of Champaign, Ill. bought a 39-year-old building at 2001 South Broadway for $981,000 on Oct. 10, which is one of the largest real estate deals in Olmsted Countythis month.
DWB Family LLC and JVB Family LLCbought it from HFR Propertiesof Chicago. HFR paid $465,000 for the 6,225-square-foot building in 2006.
That's where the Med City's only O’Reilly's Auto Partsstore is located. I don't expect that to change, since O'Reilly's lease is what makes the building valuable.
That store was previously a Checker Auto Parts. At the corporate level, O’Reilly Automotive took the wheel of Checker in 2008 when it acquired all of its rival's stores.
In 2009, that Checker store was re-branded as O'Reilly.
Meanwhile, it looks like a competitor, AutoZone, might have shifted gears on its plan to open a store near O'Reilly.
A demolition permit was submitted in August to tear down the long-empty BP Pump-N-MunchC-store on South Broadway at 16th Street to make way for an AutoZone store.
There's been no action on the corner, since the permit was filed. And now the For Sale sign has gone back up on the building and it is again listed as available on Rochester-based Hamilton Real Estate's website.
Not sure what happened there, but it looks like O'Reilly's and Advance Auto will get to keep South Broadway to themselves for the moment.
The word is that the Med City's downtown could see a small geometric shape shift and expand in the near future.
I'm checking to see if the facts square up with the chatter.