There is speculation REI may be forced to close its Milford Square store in Milford, Connecticut after news that the landlord put the shopping center up for sale.
Published reports indicate the 56,592-square-foot complex, anchored by REI, is currently listed as available in marketing materials, even though REI has a lease on its 25,377-square-foot store through the end of February 2027, according to CT Insider.
In the marketing announcement, the landlord indicates that the space will not be available to a new tenant until March 2027, even though REI reports it has renewal options.
In an email to CT Insider, a spokesperson for REI stated that its “real estate team is currently negotiating with our landlord.”
“This activity is a normal part of any store contract,” the e-mail continues. “Our lease at Milford Square…includes several multi-year renewal options. Recently, the landlord chose to market the space; we are disappointed in the landlord’s decision, and such activity should not be viewed as the Co-op’s intent to depart the shopping center.”
The Milford Square store opened in October 2016. REI also operates retail stores in Norwalk and West Hartford, Connecticut, respectively.
Image courtesy REI
