Outsourced Real Estate Case Study: COSTCO WHOLESALE
Northwest Atlantic has served as the de facto real estate department for Costco Wholesale for the past 18 years. During that time Northwest Atlantic has managed Costco’s entire real estate process from initial market studies to transactions, due diligence to zoning and entitlements. We have done this by filing the entire role of “real estate manager/deal maker” with both in-house staff and outside consultants. NWAP II Inc's interaction with Costco’s Senior Management allows us to create and implement strategic planning throughout North America. Our staff of experienced professionals focus on new market, in-fill, relocation, and property disposition strategies.
We provide superior demographic and marketing analysis, and membership and concept profiling that are customized and continually refined for Costco’s specific needs. Understanding the makeup of Costco’s members allows us to use demographic screening, market segmentation and proprietary analogues to identify major new markets. We apply the same analysis in evaluating in-fill and relocations opportunities, carefully analyzing net unit profitability, cannibalization, and other relevant factors. In addition, NWAP II Inc. works in partnership with Costco’s marketing department to develop marketing strategies and analyses.
NWAP II Inc. provides, a dedicated skilled senior staff and an extended broker-partner network with first hand knowledge of North American markets. NWAP II Inc. acts as would an in-house real estate manager working with a network of third party brokers. Our reputation on the real estate side of the transaction is closely tied with the reputations of the broker-partners we ask to work with us. Choosing those brokers wisely and making them an integral part of the Costco team gives their broker-partners a sense of pride and established loyalty with NWAP II Inc. and more importantly, with Costco Wholesale.
NWAP II Inc., in conjunction with Costco developed “Costco University” as an ongoing opportunity for our broker-partner network to interact with Costco’s Senior Management and to learn from the experience of the entire network. The knowledge and understanding that we pass on to our broker-partner network is critical to our success as these brokers are empowered to act as an extension of our staff.
Our mutual experience and successful results have led to a lasting partnership with Costco that few other commercial real estate firms have with a retailer. We have been privileged to take Costco Wholesale from a start up company to the sixth largest general merchandise retailer in the United States.
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