2340 E STATE ST Salem OH 44460-2525

NNN LEASE

• 12 years remaining, fee simple (land & building) • 20% rent escalation in year 7

Planet Fitness (NYSE: PLNT)

• 2,600 clubs worldwide • S&P 400 component

High Growth Tenant

• Over $1.1 billion in revenue, up 27.6% YOY
• Rapid national expansion
• Strong franchise with 60 locations nationally

Strong Traffic Counts

• Centrally located in the shopping district of Salem, OH • Positioned on the major thoroughfare, E State Street

Significant Upside Potential Through Rent Growth

• 20% increase in years 7-12

Neighboring National Retailers

• Including The Home Depot, Tractor Supply, Walmart, Giant Eagle, Aldi, Advance Auto Parts, Dollar Tree, Walgreens, Starbucks, McDonald's, Marc’s, and many more

INVESTMENT HIGHLIGHTS:

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  19,002-SF Planet Fitness Location on a Large +/-3.82 Acre Parcel | Outparcel to Tractor Supply Anchored Center

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  Over 11 Years Remaining on a New Double Net Lease | Minimal Landlord Responsibilities

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  20% Rental Increase on 11/1/2030 | Two, 6-Year Renewal Options

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  Complete 2024 Renovations to Suit Planet Fitness | New Roof in 2015 With a 20-year Rransferable Warranty

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  60-Unit Franchisee Guaranteed Lease

TENANT HIGHLIGHTS:

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  Planet Fitness is One of the Largest Fitness Club Franchises by Members and Locations in the US, With Over 2,700 Locations in 48 States and 19 Million Active Memberships

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  Their Mission is Focused on Providing a High-Quality Fitness Experience in a Welcoming Environment

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  Entrepreneur Named Planet Fitness #28 in Their Annual Franchise 500 List in 2023

LOCATION HIGHLIGHTS:

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  Strong Retail Corridor Location In a Tractor Supply Co Anchored Shopping Center

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  Situated Along East State Street, The Main Retail Thoroughfare in Salem, Seeing 14,747 Vehicles Per Day

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  High Visibility With a Lighted Pylon Sign For Salem Plaza at a Signalized Intersection

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  Features Three Points of Ingress and Egress and a Large, Fully Lit Parking Lot

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  Located Approximately 1.5 Miles from Kent State University at Salem Campus With Over 1,000 Students and Salem High School With Over 650 Students

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  Located in a Dense Retail Hub Near Multiple National Tenants Including Walmart Supercenter, Starbucks, Giant Eagle, ALDI, Chipotle, Home Depot, Holiday Inn, Dunkin, McDonald’s, Wendy’s, Walgreens, Take 5 and More

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  Salem is the Largest City in Columbiana County, OH

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  Salem is 18 Miles From Youngstown and 60 Miles from Cleveland

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  Stable Local Demographics: Population of 68,300+ Within 10 Miles | Low Housing Costs and Above US Average Household Incomes