Second-Generation space takes center stage: from the last Kmart to record grocery-anchored deals (October 2026). The most important story in retail real estate right now is not what is closing - it is what is moving in behind it. Across the country, yesterday's dead big boxes and shuttered drugstores are being re-tenanted at a pace that has flipped the narrative, store closings are running roughly 44% below last year, and institutional capital is paying the richest prices in decades for grocery-anchored centers. Here on Long Island, that national story just played out in its own backyard. The last Kmart in america becomes a Target - in the Hamptons. Target was scheduled to open its newest store on October 11 at Bridgehampton Commons, filling the roughly 90,000-square-foot box that until 2024 housed the last full-size, stand-alone Kmart in the continental United States. It is Target's 109th store in New York, and it arrives with a CVS Pharmacy and a Starbucks inside - and, notably, a gray exterior rather than Target's signature red, a concession to the town's coastal design guidelines. I have watched this site for years, and the symbolism is hard to miss. A chain that came to define American retail's decline hands its final flagship to one of the format's survivors, in one of the wealthiest trade areas in the country. That is second-generation space working exactly as it should: a well-located, well-sized box does not stay dark for long when the real estate is right. "Location and footprint outlast the tenant. A 90,000-foot box on Montauk Highway was never going to stay empty - the only question was who would recognize the value first." O'Reilly's quiet takeover of New York's dead drugstores. The same dynamic is unfolding on a smaller footprint statewide. Following Rite Aid's nationwide wind-down in 2025, O'Reilly Auto Parts has been systematically buying former Rite Aid buildings across New York and converting them. In the City of Tonawanda, O'Reilly paid $1.65 million for a 12,738-square-foot former Rite Aid at 47 Niagara Street that had sat vacant for two years. In Chautauqua County, it acquired the former Rite Aid at 963 Fairmount Avenue in Ellicott for $1.675 million - the third former Rite Aid in that county alone to trade. Earlier deals in Greece, Poughkeepsie, Rome, Watertown and Buffalo follow the same template. Auto-parts retailers have become some of the most reliable backfill tenants in the business. Their prototype - 7,000 to 14,000 square feet, hard-corner or pad visibility, surface parking - maps almost perfectly onto the standalone drugstore box. For landlords holding dark pharmacy real estate, that is the single most encouraging trend of the cycle. Capital is chasing grocery-anchored retail harder than ever. While value and specialty retailers absorb the vacancies, the institutional money has made its choice clear: grocery-anchored neighborhood centers. The headline deal is Brixmor Property Group and Everview Partners' roughly $2.34 billion agreement to acquire Slate Grocery REIT - a 115-center portfolio. Brixmor is taking 23 centers (about 3 million square feet, 96% leased, concentrated in Florida, Georgia and the Carolinas) for $636 million, with the remaining 92 centers folded into a joint venture - Everview at 80%, Brixmor at 20% plus a roughly $174 million preferred investment yielding 9%, alongside a strategic investment from the Abu Dhabi Investment Authority. Unitholders are being paid $13 per unit, about a 13% premium, with closing targeted for the first quarter of 2027. Phillips Edison & Company reinforced the same thesis on October 1, raising its 2026 gross acquisition guidance to $600-$700 million (from $500-$600 million) after deploying $459.7 million through September 30, and expanding its joint venture with Northwestern Mutual - which is acquiring 13 PECO grocery-anchored centers across eight states for about $377.5 million. Industry roundups this month pegged recent grocery-anchored transaction volume at roughly $4.5 billion, with at least one investor describing valuations for the category as the strongest in decades. Brixmor & Everview's agreed purchase of the 115-center Slate Grocery REIT portfolio - the clearest signal yet of where institutional capital wants to be. Retailers are monetizing their own real estate. The flip side of that investor demand is that operators are cashing in the dirt they own. Family Dollar closed a $74.7 million sale-leaseback on September 25 covering 47 stores totaling 387,945 square feet across 19 states - its second such deal of 2026, following a $75 million, 46-property transaction in June. Together the two deals move roughly 93 properties and nearly $150 million off the balance sheet while the stores keep operating. Sale-leasebacks are the quiet engine of this market. For a newly private, cost-focused operator, owned real estate is trapped capital; for a net-lease buyer, a long lease to a national credit tenant is exactly the yield they are hunting. Expect more of it as rates settle and retailers prioritize operating capital over owning their boxes. The backdrop: fewer closings, more discipline. None of this is happening in a wave of distress - the opposite, in fact. Through midyear 2026, U.S. store closures totaled roughly 3,321, down about 44% from 5,941 at the same point in 2025, with tracked retail bankruptcies falling to 10 from 32 a year earlier. Openings, meanwhile, hit their lowest midyear count since 2020 as retailers turned selective. Value and off-price names - led by Dollar General, Dollar Tree and Boot Barn - are driving most of the new growth, while the heaviest closures remain concentrated in a short list of troubled names such as GameStop, Francesca's and Eddie Bauer. The takeaway for owners is straightforward: this is a market defined by fewer closures, disciplined openings, and deep demand for well-located neighborhood retail. The boxes that go dark are getting backfilled faster, the capital markets are rewarding the right product, and the operators who own their real estate are finding willing buyers. For anyone holding quality retail - especially supermarket-anchored centers in strong Northeast trade areas - the fundamentals have rarely looked better. Sources. * Retail Dive, "Target to open Bridgehampton store in former Kmart, with a gray exterior," 2026. retaildive.com * News 12 Long Island, "New Bridgehampton Target set to open in the fall," August 2026. news12.com * Connect CRE, "Target Coming to the Hamptons, Backfilling Former Kmart," 2026. connectcre.com * The Post-Journal, "Fairmount Avenue Rite Aid Sold To O'Reilly Auto," May 2026. post-journal.com * WBEN / Audacy, "O'Reilly's heads to City of Tonawanda," 2026. audacy.com * Brixmor Property Group, Form 8-K (Slate Grocery REIT acquisition), U.S. Securities and Exchange Commission, September 28, 2026. sec.gov * CRE Daily, "Brixmor, Everview Strike $2.3B Slate Grocery REIT Deal," 2026. credaily.com * Phillips Edison & Company, Form 8-K Exhibit 99.1 (2026 guidance update), U.S. Securities and Exchange Commission, October 1, 2026. sec.gov * JLL, "Family Dollar closes $74.7M sale-leaseback for 47 retail locations nationwide," September 2026. jll.com * ICSC, "$4.5B in grocery-anchored retail moves," October 2, 2026. icsc.com * Coresight Research / Retail TouchPoints, midyear 2026 U.S. store openings and closures tracker. retailtouchpoints.com Ken Schuckman President & CEO, Schuckman Realty Inc. Ken Schuckman is President & CEO of Schuckman Realty Inc., a retail-focused commercial real estate brokerage founded by Stanley Schuckman in 1978 in Hicksville, NY. With 30+ years of experience specializing in supermarket-anchored shopping centers, Ken is a CoStar Power Broker and member of X-Team Retail Advisors. He is also Co-Founder & Principal of BTF Capital Fund. SchuckmanRealty.com

O'Reilly Automotive (NASDAQ:ORLY) stock sold by Rep. Kevin Hern. September 29, 2026 Key points. * Rep. Kevin Hern sold $15,001-$50,000 of O'Reilly Automotive stock on August 31 through the Hern Family Foundation account, alongside sales of several other companies in September. * O'Reilly shares were trading at $86.51, up 0.5%, with a market capitalization of about $69.98 billion. The company recently met earnings expectations at $0.86 per share and reported 8.1% year-over-year revenue growth. * Analysts maintain a "Moderate Buy" consensus, with 15 of 18 analysts rating the stock Strong Buy or Buy and an average price target of $107.24; insiders have sold 6,000 shares worth $550,530 over the past 90 days. * Five stocks to consider instead of O'Reilly Automotive. Representative Kevin Hern (Republican-Oklahoma) recently sold shares of O'Reilly Automotive, Inc. NASDAQ: ORLY. In a filing disclosed on September 25th, the Representative disclosed that they had sold between $15,001 and $50,000 in O'Reilly Automotive stock on August 31st. The trade occurred in the Representative's "HERN FAMILY FOUNDATION" account. Representative Kevin Hern also recently made the following trade(s): * Sold $15,001 - $50,000 in shares of CenterPoint Energy NYSE: CNP on 9/15/2026. * Sold $1,001 - $15,000 in shares of TJX Companies NYSE: TJX on 9/15/2026. * Sold $15,001 - $50,000 in shares of STERIS NYSE: STE on 9/15/2026. * Sold $1,001 - $15,000 in shares of Seagate Technology NASDAQ: STX on 9/15/2026. * Sold $15,001 - $50,000 in shares of NextEra Energy NYSE: NEE on 9/14/2026. * Sold $1,001 - $15,000 in shares of Marsh & McLennan Companies NYSE: MRSH on 9/14/2026. * Sold $15,001 - $50,000 in shares of IQVIA NYSE: IQV on 9/14/2026. * Sold $15,001 - $50,000 in shares of Home Depot NYSE: HD on 9/14/2026. * Sold $1,001 - $15,000 in shares of Home Depot NYSE: HD on 9/14/2026. * Sold $15,001 - $50,000 in shares of Emerson Electric NYSE: EMR on 9/14/2026. O'Reilly Automotive trading up 0.5%. NASDAQ:ORLY opened at $86.51 on Tuesday. O'Reilly Automotive, Inc. has a twelve month low of $82.59 and a twelve month high of $108.71. The company has a market cap of $69.98 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 2.14 and a beta of 0.52. The stock has a fifty day simple moving average of $88.52 and a 200-day simple moving average of $89.65. Discover more Stock Market Holidays EV Market Report O'Reilly Automotive (NASDAQ:ORLY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The specialty retailer reported $0.86 EPS for the quarter, hitting analysts' consensus estimates of $0.86. The firm had revenue of $4.89 billion for the quarter, compared to analysts' expectations of $4.86 billion. O'Reilly Automotive had a net margin of 14.27% and a negative return on equity of 232.45%. The business's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share. O'Reilly Automotive has set its FY 2026 guidance at 3.200-3.300 EPS. As a group, equities research analysts predict that O'Reilly Automotive, Inc. will post 3.27 EPS for the current fiscal year. Institutional investors weigh in on O'Reilly Automotive. Several large investors have recently modified their holdings of ORLY. Mainstream Capital Management LLC grew its position in O'Reilly Automotive by 0.9% during the 1st quarter. Mainstream Capital Management LLC now owns 12,630 shares of the specialty retailer's stock worth $1,166,000 after purchasing an additional 109 shares during the last quarter. Dynasty Wealth Management LLC lifted its stake in shares of O'Reilly Automotive by 2.7% during the fourth quarter. Dynasty Wealth Management LLC now owns 4,281 shares of the specialty retailer's stock worth $390,000 after buying an additional 113 shares during the period. Kohmann Bosshard Financial Services LLC lifted its stake in shares of O'Reilly Automotive by 54.3% during the first quarter. Kohmann Bosshard Financial Services LLC now owns 324 shares of the specialty retailer's stock worth $30,000 after buying an additional 114 shares during the period. Pointe Capital Management LLC grew its holdings in shares of O'Reilly Automotive by 1.2% during the second quarter. Pointe Capital Management LLC now owns 10,447 shares of the specialty retailer's stock valued at $962,000 after buying an additional 127 shares during the last quarter. Finally, Louisbourg Investments Inc. grew its holdings in shares of O'Reilly Automotive by 49.2% during the first quarter. Louisbourg Investments Inc. now owns 391 shares of the specialty retailer's stock valued at $36,000 after buying an additional 129 shares during the last quarter. Institutional investors own 85.00% of the company's stock. Insider activity at O'Reilly Automotive. In other news, Director Thomas Hendrickson sold 1,000 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $87.83, for a total value of $87,830.00. Following the transaction, the director directly owned 18,675 shares of the company's stock, valued at approximately $1,640,225.25. This represents a 5.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maria Sastre sold 2,000 shares of the firm's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $91.85, for a total value of $183,700.00. Following the completion of the transaction, the director owned 14,970 shares of the company's stock, valued at approximately $1,374,994.50. The trade was a 11.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,000 shares of company stock valued at $550,530 in the last ninety days. Company insiders own 0.77% of the company's stock. Analyst ratings changes. Several equities research analysts have issued reports on the stock. Robert W. Baird set a $100.00 price objective on shares of O'Reilly Automotive in a research report on Friday, July 31st. Citigroup reaffirmed a "buy" rating and set a $106.00 price target (up from $104.00) on shares of O'Reilly Automotive in a research note on Monday, August 3rd. UBS Group reiterated a "buy" rating on shares of O'Reilly Automotive in a report on Friday, July 31st. Wolfe Research set a $98.00 price objective on O'Reilly Automotive in a report on Wednesday, July 15th. Finally, DA Davidson reaffirmed a "buy" rating and set a $106.00 target price on shares of O'Reilly Automotive in a research report on Wednesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $107.24. About Representative Hern. Kevin Hern (Republican Party) is a member of the U.S. House, representing Oklahoma's 1st Congressional District. He assumed office on November 13, 2018. His current term ends on January 3, 2027. Hern (Republican Party) is running for re-election to the U.S. House to represent Oklahoma's 1st Congressional District. He declared candidacy for the 2026 election. Kevin Hern went into business as a McDonald's franchisee in 1999. He acquired 10 McDonald's franchises by 2012. He served on the McDonald's National Leadership Team for 13 years, including the tax policy team, the insurance corporation, and as chairman of the economics team. From 2011 to 2015, he was chairman of the finance committee of the Oklahoma Turnpike Authority. O'Reilly Automotive company profile. O'Reilly Automotive, Inc is a specialty retailer of automotive aftermarket parts, tools, supplies and accessories. The company serves do-it-yourself customers as well as professional automotive service providers, offering products for vehicle maintenance, repair and customization. Its merchandise includes replacement parts such as brakes, batteries, filters and engine components, along with lubricants, shop equipment, tools, accessories and related products. O'Reilly also provides services such as parts lookup, battery testing and recycling, loaner tools, and delivery to professional customers. Founded in 1957 by the O'Reilly family in Springfield, Missouri, the company has grown from a single store into a large retail and distribution network serving customers throughout the United States and Mexico. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider O'Reilly Automotive, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and O'Reilly Automotive wasn't on the list. While O'Reilly Automotive currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys. Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. 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O'Reilly Automotive, a leading aftermarket automotive parts retailer, has climbed 106% over the past five years but currently trades 20% below its peak from September 2025. The stock has experienced similar drawdowns five times in the past decade, each presenting buying opportunities for investors. The company reported same-store sales growth of 4.7% in 2025, marking its 33rd consecutive year of growth. This streak continued through the first two quarters of 2026. O'Reilly operated 6,695 stores as of 30 June and plans to open 225 to 235 net new locations this year. The company benefits from durable demand, as customers require car parts regardless of economic conditions. Management sees continued expansion opportunities in the fragmented automotive aftermarket retail sector.