Advance Auto Parts puts more than 200 stores on the market

Summary: Advance Auto Parts has engaged Hilco Real Estate to sell over 200 of its stores and leases across 46 states, as part of a strategy to downsize its physical footprint. This portfolio includes both owned properties and leased locations, which range in size from 3,000 to 48,000 square feet, and are situated in urban areas and strong commercial corridors. The move follows Advance Auto’s announcement in November to close more than 700 stores and four distribution centers to improve profitability amid declining sales. Hilco will market these properties for sale individually, together, or in combinations, with offers being accepted until March.