24 Hour Fitness
Retail | 51,637 SF
Marketing description
The 24-hour has 1.5 years of term left with rent bumps every 6 months till the end of the lease, allowing the new owner to either find a tenant to backfill the space or go through the process of Re-zoning the site for the desired use.
Investment highlights
The current 24 Hour Fitness is sitting at a significantly below market rent at $12 Rent PSF. Current Market rents are between $18-$22 Rent PSF.
The 24-hour fitness sits on a large 5.7 AC and is zoned CC (Community Commercial), Which allows for most retail uses. The zoning also allows for a Hotel and Convention Center.
The 24-hour fitness sits across from the Arlington Mall and many other tenants nearby. Some of these are Target, Macy’s, Costco, Lowe’s, Burlington, Panera Bread, Chase Bank, Portillo’s, Raising Cane’s, Whataburger, and In-N-out Burger.
The Parks Mall at Arlington ranks as one of the most visited Malls in the country (7.9 Million visits per year). It sits in the top 25th percentile, according to Placer AI.
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