Hollywood Video outsources real estate dept.
Jul 15, 2002 12:00 PM, — staff & wire reports
The world’s second largest video chain is getting bigger and it has hired Des Plains, Ill.-based Northwest Atlantic Group (NWAG) to manage the expansion.
Portland, Ore.-based Hollywood Entertainment Corp., owner and operator of more than 1,800 Hollywood Video stores in 48 states, recently awarded NWAG a contract to coordinate all the chain’s new U.S. store development activities. The exclusive contract includes securing leases and sites for between 40 and 60 new 6,000-sq.-ft. locations in 2002 and more than 100 new locations in 2003.
Through this outsourcing relationship, NWAG will serve as Hollywood’s real estate department. NWAG will coordinate all market planning exercises, new site identification, letter-of-intent processing and transaction negotiations for the retailer.
NWAG is a business unit of Seattle-based Northwest Atlantic. Other Northwest Atlantic units include Northwest Atlantic Partners, which has operated as the outsourced real estate department for wholesale chain Costco for the past 16 years.
