How Outdoor Retailers Are Buying Their Own Stores

In this episode of The Business of Real Estate, Lucas and Luna unpack a quiet but powerful shift in retail real estate: outdoor brands like Patagonia and REI are buying the buildings they once leased. With anchor stores closing and mall owners desperate for stable tenants, these retailers are snapping up prime locations at prices that make sense. Lucas digs into the math behind a recent Patagonia store acquisition, comparing the cost of a 20-year lease to an outright purchase, and explains why a retailer's balance sheet changes everything. Luna raises the question on every listener's mind: what happens when a retailer becomes its own landlord? They explore the risks—maintenance, property taxes, and the lost flexibility to walk away—and why this trend is spreading beyond outdoor gear to grocers and big-box chains. If you've ever wondered who really owns the storefront where you shop, this episode offers a clear, numbers-driven look at a strategy reshaping the retail landscape in 2026. #OutdoorRetail #RetailRealEstate #Patagonia #REI #StoreOwnership #RetailLease #CommercialRealEstate #RetailInvestment #RetailTrends2026 #RealEstateStrategy #RetailFinance #TenantOwnership #MallRevival #RetailAnchor #Business #Finance #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo