TORONTO – Calloway Real Estate Investment Trust says its properties are home to eight Future Shop stores being closed by Best Buy.
In a statement Monday, the trust (TSX:CWT:UN) says Future Shop leases 19 stores at various Calloway sites, but fewer than half of them are among the 66 locations to be closed.
Calloway says it’s already in negotiations with possible tenants for three of the spaces.
Meanwhile, it says Best Buy has confirmed that Future Shop will honour all rental payments for the full term of all leases for stores that are being closed.
Calloway is among Canada’s largest real estate investment trusts.
It owns and manages approximately 27 million square feet in 121, principally Walmart-anchored retail centres.