Gander Mountain Co.'s plan to begin closing 32 underperforming stores over the next several weeks will impact 10 properties owned by six publicly traded U.S. REITs covered by SNL.
Single-tenant REIT National Retail Properties Inc. owns three properties that will be affected by the outdoor retailer's closure plan, the greatest number of any publicly traded U.S. REIT.
Three REITs report Gander Mountain as a top tenant. As of Dec. 31, 2016, STORE Capital Corp. leased 13 locations to the company, which represented 2.2% of the REIT's rental revenue. Of the 13, only the Lubbock, Texas, location is set for closure at this time, however.