Redbox expands Oakbrook Terrace headquarters

DVD rental giant Redbox is planning to more than double its space at its headquarters in Oakbrook Terrace.

The movie rental firm now occupies portions of four floors, or 60,180 square feet, at Oakbrook Terrace Tower. The company will soon occupy five full floors in addition to the annex space.

In August, the company will lease nearly 137,000 square feet of the 31-story building.

Redbox will continue to lease 24,000 square feet at Executive Towers I, 1431 Opus Place in Downers Grove.

A company spokesman said Wednesday that the additional space is needed to "accommodate current business needs and projected growth."

Redbox, a subsidiary of Coinstar, is growing furiously, opening a new kiosk every hour, Redbox President Mitch Lowe has said.

The coke-machine sized kiosks typically hold 700 DVDs with up to 200 titles, updated weekly. Customers rent a movie for $1 a night and can return it to any of the company's kiosks.

The typical kiosk sees more than 400 movie rentals per week. Families with young children and young adults, ages 18 to 24, are the most common Redbox users, the company said.

The company continues to set records. On New Year's Eve, Redbox rented more than 2 million DVDs, surpassing the company's previous one-day rental record by more than 170,000 rentals.

In just five years, Redbox has grown from a dozen locations to more than 19,000 locations nationwide.