Pep Boys has sold its building at 3904 Concord Pike in Wilmington, DE, to local investors for $5.15 million, or about $258 per square foot.
The 19,950-square-foot auto repair building delivered in 1982, and was remolded in 2005. It is in New Castle County Delaware. Pep Boys will continue to occupy the property on a 15-year, triple-net leaseback with four five-year options.
Lior Regenstreif of Marcus & Millichap represented the seller. Dean Zang and Mark Taylor of Marcus & Millichap represented the buyer.
Please refer to CoStar COMPS #1782225 for more information on this transaction.