New Britain, CT OCEAN STATE JOB LOT closing *UPDATED 5/24/19*

Started by giantsfan2016, May 23, 2019, 04:10:01 PM

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giantsfan2016

The New Britain, CT OCEAN STATE JOB LOT is closing on July 7th, 2019. The landlord isn't renewing their lease. They're looking to get a gym to open in the space. Reportedly JOB LOT is paying below market rate for their lease.

http://www.newbritainherald.com/NBH-New+Britain+News/351109/ocean-state-job-lot-to-leave-new-britain

retailisking

Quote from: Brammy on May 23, 2019, 04:10:01 PM
The New Britain, CT OCEAN STATE JOB LOT is closing on July 7th, 2019. The landlord isn't renewing their lease. They're looking to get a gym to open in the space. Reportedly JOB LOT is paying below market rate for their lease.

http://www.newbritainherald.com/NBH-New+Britain+News/351109/ocean-state-job-lot-to-leave-new-britain

Interesting - the newspaper story says OSJL made the decision not to renew...

BillyGr

Seems both could be true - the landlord only offering them a new lease at a much higher cost (thus not renewing their existing one) and then OSJL deciding not to stay at the new higher cost.

retailisking

Quote from: BillyGr on June 05, 2019, 02:25:22 PM
Seems both could be true - the landlord only offering them a new lease at a much higher cost (thus not renewing their existing one) and then OSJL deciding not to stay at the new higher cost.

The usual PR speak is "we could not come to terms on a new lease."

giantsfan2016

The landlord's website shows the Job Lot Space as becoming Fun City Trampoline Park and the Marshall's Space becoming a gym.

http://www.paramountrealty.com/property/new-brite-plaza