Philadelphia-based The Pep Boys -- Manny, Moe & Jack (NYSE:PBY), operator of 592 auto service stores in 36 U.S. states and Puerto Rico, has entered into an $166.2 million sale/leaseback transaction. Under terms of the agreement, Pep Boys is selling 34 owned properties to an undisclosed buyer and will lease back the stores for a term of 15 years with four five-year options to renew.
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