Big 5 Sporting Goods in Redwood City is closing in January, roughly one year after competitor Sports Basement moved in next door.
Located at 242 Walnut St. in the Peninsula Boardwalk shopping center, this Big 5 location is closing because its lease will soon expire and Crosspoint Realty Services, which manages the property, wants to bring in a different type of business.
“Obviously we can’t have two identical or same category retailers next to each other in the center,” said Tom Klein, managing principal at Crosspoint. “We’re talking with several potential new tenants for that space.”
Klein did not say what businesses or types of businesses might take over the 12,000-square-foot space.
Ian Landgreen, vice president at Big 5, said the company did not want to leave its Redwood City location, which it has occupied since 1978.
“We have a great relationship with the community and this is a store we’ll be sad to see close,” he said, adding that business has been “great.” “It was not our choice, we would love to stay here.”
Landgreen said Big 5 will look for another Redwood City location, but acknowledged available spaces are hard to come by.
Until it closes in January, Big 5’s Redwood City store will offer the selling off its inventory at especially low prices, Landgreen added.
Big 5 has more than a dozen locations in the Bay Area, including in San Mateo, San Bruno, Daly City and Menlo Park.
Sports Basement opened next door to Big 5 at 202 Walnut St., which previously was occupied by Toys R Us and Babies R Us, in November of 2018 after signing a 20-year lease.