GlobeSt.com EXCLUSIVE: The Good Guys Shops for Sublease Tenants

PORTLAND-Following a rough third quarter, GlobeSt.com has learned that electronics retailer The Good Guys is looking to get out from under nine of its 13 leases in Oregon and Washington and may be doing so in its other markets as well. The San Francisco-based company currently operates 79 stores in California, Nevada, Oregon and Washington.

When a spokesman for the publicly traded company was asked to comment on the hiring of brokers to market their leases in the Northwest and elsewhere, he conferred with higher-ups and called back with this official statement: “As part of our ongoing management strategy, we are reviewing out real estate portfolio. It’s well known that some of our stores aren’t profitable, but I can assure you that no decision has been made regarding store closures.”

That may be true, but likely only because the company hasn’t found someone else to cover the rent. According to information given to brokers by the agents Good Guys hired to market the Northwest leaseholds, The Good Guys has said it plans to operate each location “until a new tenant can be found,” and that brokers touring the properties with their clients should be discrete because “employees are unaware the locations are being marketed.”