REI

What REI does

REI Real Estate Services, LLC is a Carmel, Indiana-based commercial real estate firm that provides a full range of real estate services to local, regional, and national clients. Its service lines span Development (hospitality, office, and mixed-use), Sales & Leasing (land, office, industrial, and mixed-use), Property Management, and Asset Management. According to firmographic data, the company was founded in 2015 and operates with 51-100 employees from its headquarters at 11711 North Pennsylvania Street, Suite 200, Carmel, IN 46032.

The company's operating footprint is anchored in the Greater Indianapolis market, where it manages over 2 million square feet of commercial real estate, and extends nationally through a hospitality portfolio of 18 operating hotels across 5 states totaling approximately 4,000 rooms, with active development projects valued at over $200 million underway in Carmel, Nashville, San Antonio, and Austin. Notable past projects tied to its leadership include the JW Marriott Hotel, Marriott Place, Circle City Mall, Wellpoint Operation Center, Emmis Communications Headquarters, and the Indianapolis Marriott Hotel. The firm's revenue model is service-fee-based, drawing on development fees, asset and property management fees across its managed portfolio, and brokerage commissions from sales and leasing transactions.

The firm is led by President Michael W. Wells (also President of REI Investments, Inc., the manager of REI Real Estate Services), CFO Jeffrey Sporleder, VP of Asset and Property Management Tina Shute, SVP of Sales & Leasing Michael D. Napariu (CCIM, CPA inactive), Asset Manager/Director of Development Ryan Wells, Corporate Controller Lanny Sledge, and Partnership Controller Christine Woosley. The underlying technology stack, detailed pricing tiers, and product roadmap were not disclosed in the input data.

Note on data scope: A substantial portion of the aggregated input described Recreational Equipment, Inc. (REI Co-op), the outdoor equipment retailer and cooperative—a distinct entity from REI Real Estate Services. Operational data such as e-commerce revenue, member counts, product launches, and retail pricing have been excluded from this analysis because they pertain to the outdoor retailer, not the real estate firm identified by the firmographic record.

Name

REI

Legal name

Recreational Equipment, Inc.

Website

https://reirealestate.com

Company type

Private

Founded year

1955

Operating status

Operating

Headcount range

51–100 employees

Short description

REI Real Estate Services is a Carmel, Indiana-based commercial real estate firm providing development, sales & leasing, property management, and asset management services across the U.S., with 18 hotels and over 2 million sq ft under management.

Ownership category

akta.pro rank

Product category

Outdoor Retail

NAICS

Sporting Goods, Hobby, Musical Instrument, Book, and Miscellaneous Retailers (459)

SIC

Sporting & Athletic Goods, Nec (3949), Wholesale-Apparel, Piece Goods & Notions (5130)

akta.pro primary industry

Sporting Goods & Outdoor Inventory-led Online Retailers (CRAFADAJ)

akta.pro secondary industries

Outdoor Recreation Equipment Distribution (Camping, Hiking, Climbing) (CRAOAJAB), Buying Clubs & Community Bulk Purchasing Co-ops (CRAHALAE)

Keywords

• Outdoor retail
• Camping equipment
• Hiking gear
• Outdoor apparel
• Recreational equipment

Headquarters

HQ city

Carmel

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Retail Sales - Physical Stores: REI generates revenue through sales of outdoor gear, apparel, and footwear at its retail store locations across the United States. Full-price selling drove a 7% year-over-year increase in gross profit to $1.52 billion in 2025.
2. E-commerce Sales: REI operates an e-commerce platform (REI.com) enabling direct online purchases of outdoor equipment and apparel, complementing its physical retail presence.
3. Membership Program: REI operates as a cooperative with over 26 million members who pay a $30 lifetime membership fee and receive member-exclusive discounts and benefits.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

REI Co-op is a consumer cooperative that sells outdoor recreation gear, apparel, and footwear through physical retail stores across the United States and an e-commerce platform at REI.com. The product mix includes proprietary REI Co-op branded items (e.g., Magma sleeping bags, Half Dome tents, Rainier and Trailmade jackets) alongside a curated selection of third-party brands such as Patagonia, Arc'teryx, The North Face, Brooks, and Hoka, supported by a $30 lifetime membership program serving more than 26 million members.

Product overview

REI (Recreational Equipment Inc.) is a consumer cooperative outdoor retailer offering a diverse portfolio of outdoor gear, apparel, and footwear. The company's product strategy combines proprietary REI Co-op branded products—including the Magma sleeping bag series, Half Dome tent series, Rainier and Trailmade rain jackets—with an extensive marketplace of third-party outdoor brands such as Patagonia, Arc'teryx, The North Face, Brooks, Hoka, and Columbia. REI operates both physical retail stores and e-commerce platforms (REI.com), supported by a membership program with over 26 million members that provides exclusive discounts and profit-sharing benefits. The company has expanded into sustainability-focused initiatives including circular textile partnerships and venture investments in outdoor innovation startups.

Differentiator

Problem solved

Functional benefit

Products and services

• REI Co-op Magma Sleeping Bag Proprietary REI Co-op brand down sleeping bag engineered for backpacking and cold-weather camping, sold through REI retail stores and REI.com.
• REI Co-op Half Dome 2 Tent Proprietary REI Co-op brand entry-level backpacking tent designed for two-person use, sold through REI retail stores and REI.com.
• REI Co-op Rainier Jacket Proprietary REI Co-op brand insulated jacket for cold-weather outdoor activities such as hiking and backpacking, sold through REI retail stores and REI.com.
• REI Co-op Trailmade Rain Jacket Proprietary REI Co-op brand sustainable rain jacket featuring PFAS-free waterproofing, marketed for hiking and everyday outdoor use, sold through REI retail stores and REI.com.
• REI Co-op Lifetime Membership Program One-time $30 lifetime membership that grants individual consumers access to member-exclusive pricing, special offers, an annual member dividend, voting rights, and community engagement benefits across REI retail stores and REI.com.
• REI Co-op Spring 2026 Collection Seasonal REI Co-op product line covering camping, hiking, running, and cycling gear and apparel, with emphasis on comfort, weather protection, and community-driven product testing, launched March 2026.

Quantifiable outcome

• 7% year-over-year increase in gross profit to $1.52 billion driven by strong full-price selling and disciplined inventory management
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered minor and core.

• UnspunminorStrategic or Co-development Partner · 1 April 2026REI signed a letter of support for unspun's plan to build AI-enabled 3D weaving manufacturing hubs in the United States. The project aims to enable domestic apparel production using automated 3D weaving technology to reduce waste and create American jobs.
• HestminorChannel Partner/ Reseller/ Distributor · 1 March 2026Hest's Foamy Camp Chair launched exclusively through REI stores and REI.com, marking Hest's first expansion into camp furniture. The product utilizes Hest's proprietary enhanced memory foam technology.
• Symbiosis CoalitioncoreStrategic or Co-development Partner · 1 November 2025REI joined the Symbiosis Coalition alongside Meta, Microsoft, Salesforce, Google, and Bain to purchase carbon removal credits. The coalition aims to secure commitments for 20 million tons of nature-based removal credits.
• AmbercyclecoreStrategic or Co-development Partner · 1 October 2025Three-year offtake agreement to scale circular textile innovation. Partnership aims to expand the use of recycled polyester (Cycora) and build on REI's progress toward achieving 100% recycled polyester in REI products by 2030.
• Maine Outdoor BrandsminorGTM or Marketing Partner · 1 June 2025Maine Outdoor Brands launched the MOB Shop branding program at REI, which generated $45,000 in sales during a pilot phase and is expanding to more locations nationwide to promote Maine-made outdoor gear and apparel.

Scale indicators6 records

Recent moves3 records

Expansion highlights3 records

Direct peers

• Backcountry: Outdoor specialty e-commerce retailer offering premium outdoor gear and apparel from similar brands; competes directly with REI.com in the online outdoor enthusiast segment.
• Patagonia: Iconic outdoor apparel and gear brand that both supplies REI as a key wholesale partner and competes for the same outdoor enthusiast customer through its own direct-to-consumer channels.
• Columbia Sportswear: Outdoor apparel and footwear brand with overlapping product categories and customer base; widely distributed through REI's stores and e-commerce.
• The North Face: VF Corporation-owned outdoor apparel and equipment brand sold across REI's assortment; competes head-to-head with REI Co-op branded product in jackets, tents, and sleeping bags.

Broad incumbents

• Decathlon: Global sporting goods retailer expanding aggressively in the U.S. with low-cost private-label outdoor gear, increasingly competitive with REI on price and assortment.
• DICK's Sporting Goods: Largest U.S. sporting goods retailer with broad assortment including outdoor recreation, competing for the same consumer wallet with a national store footprint and growing e-commerce.
• Bass Pro Shops / Cabela's: Outdoor and sporting goods mega-retailer with overlapping categories in camping, hiking, and outdoor apparel, plus a large experiential retail footprint.

Emerging players

• Public Lands: Outdoor specialty retailer owned by Dick's Sporting Goods focused on conservation-aligned outdoor enthusiasts — a directly overlapping customer base with REI.
• Arc'teryx: Amer Sports-owned premium technical outdoor brand sold across REI's assortment; competes via direct brand-owned retail stores and DTC channels for REI's highest-value customer segment.

Regional players

• Sierra (TJX): Off-price outdoor and active apparel retailer selling closeout and excess inventory from brands REI also carries; competes for value-oriented outdoor consumers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/rei-real-estate-services-llc

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about REI