Planet Fitness @ Las Palmillas Center
Planet Fitness | Yuma, AZ | 7.25% CAP | Early Lease Renewal
Marketing description
Faris Lee Investments is pleased to offer a single tenant net-leased Planet Fitness (NYSE: PLNT), the largest gym operator in the U.S., with over 2,900 locations and a membership base exceeding 20 million. Planet Fitness is coming off a record-breaking 2025, generating $1.32 Billion in revenue, a 12% year-over-year increase, and a 6.7% rise in same-club sales. This specific store is operated by United FP TOM LLC, one of the largest franchisees in the system with over 190 locations across 14 states, providing a strong, seasoned operator & lease guarantee. Investors benefit from immediate upside via a scheduled 8% rent increase in August 2027 that elevates the Cap Rate to 7.85%. The strength of this location is further evidenced by the tenant exercising a 5-year renewal early, leaving 6 years of firm term remaining at a site Planet Fitness has successfully operated since 2012.
The property occupies a high-profile "End Cap" position within the Las Palmillas Center, part of a regional retail hub boasting over 11.4 million annual visitors. Anchored by national brands like Hobby Lobby, Sportsman's Warehouse, Burlington, and Home Goods, the site enjoys immense consumer synergy and is adjacent to the Rio Vista Commerce Center, a 50-acre mixed-use development featuring Onvida Medical Center Offices, Extended Stay Hotel, La Quinta Inn, Pacific Avenue Athletic Complex and additional retail and restaurant uses. Other major retailers in the immediate area include Target, Kohl's, Sam's Club, Home Depot, Best Buy, Marshalls & Ross Stores. The Planet Fitness location features exceptional visibility to the 8 Freeway (50,000 VPD) and holds the coveted top panel on the freeway pylon sign.
The trade area is supported by a diverse economic engine, including a $4 Billion agricultural industry and $1.8 Billion from strategic military installations like MCAS Yuma and the Yuma Proving Grounds. The region also benefits from $452M in tourism activity, 80,000 annual winter visitors, and daily cross-border consumers from San Luis, Mexico. With a population of 98,500 residents within 5 miles and an average household income reaching $93,000 within 10 miles, the property serves a dense and growing consumer base. This investment offers the rare combination of a dominant national brand, a top-tier franchisee guarantee, and a proven, high-traffic retail location in a resilient and expanding market.
Investment highlights
- PLANET FITNESS (NYSE: PLNT) | 2,900+ LOCATIONS | LARGEST GYM OPERATOR IN U.S. • 20+ Million members; Founded in 1992 • Record $1.38 Billion revenue in 2025; 12% Year over Year increase • Same-Club sales increased 6.7% in 2025
- STORE IS OPERATED BY ONE OF THE LARGEST FRANCHISEES IN THE PLANET FITNESS SYSTEM/GUARANTEED LEASE • Lease is guaranteed by United FP TOM LLC, operator of over 190 Planet Fitness locations covering 14 states nationwide
- IMMEDIATE UPSIDE WITH 8% RENT INCREASE IN AUGUST 2027 INCREASES CAP RATE TO 7.85%/TENANT EXERCISED LEASE RENEWAL EARLY-6 YEARS REMAINING/PROVEN LOCATION • Investor benefits from near term 8% rent increase, immediately growing the income stream within the 1st year of ownership • Tenant exercised 5 year renewal early showing commitment to the location • Planet Fitness has operated at this location since 2012
- HIGHLY TRAFFICKED REGIONAL RETAIL HUB LOCATION SERVING THE TRADE AREA /PART OF LAS PALMILLAS CENTER & ADJACENT TO RIO VISTA COMMERCE CENTER- 50 ACRE MIXED USE DEVELOPMENT • Planet Fitness is located within a regional retail hub that has over 11.4M annual visitors (Placer) • Subject property is an "End Cap" location of the Las Palmillas Center anchored by Home Goods, Hobby Lobby, Burlington, Kohl's & Sportman's Warehouse. Property benefits from diverse consumer traffic to the center and surrounding retail & hospitality synergy • Rio Vista Commerce Center is a 50 acre mixed use development consisting of Onvida Medical Center Offices, Extended Stay & La Quinta Inn Hotels, Pacific Avenue Athletic Complex, and future retail & restaurant uses • Major retailers in the immediate area include Target, Home Depot, Sam's Club, Ross Stores, Best Buy & Marshalls
- 8 FREEWAY VISIBILITY WITH TOP PANEL SIGNAGE ON FREEWAY PYLON SIGN-50,000 VEHICLES PER DAY • Planet Fitness enjoys direct visibility to the 8 Freeway (50,000 VPD) and in addition has the top panel of the highly visible pylon sign fronting the freeway
- DIVERSE ECONOMIC DRIVERS IN YUMA COUNTY UNDERPIN ITS STRENGTH AND SUSTAINABILITY/STEADY POPULATION GROWTH • The City of Yuma and Yuma County is bolstered by its diverse economy, including: • Agriculture- $4 Billion revenue annually • Strategic Military Installations (MCAS Yuma and Yuma Proving Grounds)- $1.8 Billion annually • Yuma Tourism- $452M in Economic Activity • Daily cross border consumers from San Luis, Mexico (210,000 Population) • Approximately 80,000 winter visitors (bonus Population) • Yuma County projected to add over 12,500 in population growth between 2025 and 2029, growing at a 1.4% annual rate
- UNIQUE AND DYNAMIC GROWING TRADE AREA/STRONG DEMOGRAPHICS • Planet Fitness' location is bolstered by strong demographics with approximately 58,100 residents within 3 Miles and approximately 98,500 residents within 5 miles of the property- estimated to grow by 4.5% over the next 5 years • Average household income of $85,400 within 5 miles and $93,000 within 10 miles of the Planet Fitness
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