Mark Wattles began construction of his dream home in 1997. Two years later, he halted work on the 49,240-square-foot structure. The closet in the master suite alone measures twelve-hundred square feet.
The house sits on thirty-two acres in West Linn, south of Portland. The home-to-be overlooks a bend in the Willamette River, with a 270-degree view and 2,700 feet of water frontage. Wattles paid $1.25 million for the property in 1994 and says he spent $12 million on the construction.
Wattles maintained the unfinished dwelling and kept the building permits active for twenty years. He sold the property at auction for $2.27 million in 2018. The buyer envisioned a Tuscan-style villa estate and vineyard and a wine tasting room. After two years with no additional construction the property is for sale again. Asking price is $3,999,999, a bargain.
Wattles was the founder of Hollywood Video, for a time the second-largest chain of video-rental stores, behind Blockbuster. Facing a hostile takeover attempt by Blockbuster in 2005, Hollywood accepted a buyout by Movie Gallery, a smaller competitor. Movie Gallery went bankrupt and was liquidated in 2010.
Wattles meantime, purchased Ultimate Electronics consumer electronics stores, itself in bankruptcy. The Ultimate chain went into its final bankruptcy in 2011 and Wattles faced a $5.1 million judgement for personal guarantees he had made to Sony.
Industry powerhouse Blockbuster at its peak had more than nine-thousand stores. Today there is one. Blockbuster did not keep up with fast-moving technology. It faced competition from Netflix which offered subscriptions for mail-order DVD rentals. Netflix transitioned from rentals to on-line streaming service.
The last Blockbuster store is in Bend Oregon. If you’re not in their neighborhood, you can order merchandise from their web site. (Need a “Be Kind, Rewind” t-shirt?)
And Mark Wattles? His current project is drive-thru coffee shops in the Dallas Texas area.