Anytime Fitness - Orrville, OH
Absolute NNN Lease | 10% Rent Increases Every 5 Years
Marketing description
The subject property is a 6,798 square foot Anytime Fitness located in Orrville, Ohio. Anytime Fitness signed a 15-year lease which commenced in July of 2022, leaving approximately 11 years remaining on the initial lease term. The lease provides for 10 percent rent increases every 5 years during the initial lease term and fair market value rent adjustments between each of the two 5-year renewal options. The lease is absolute NNN providing for zero landlord responsibilities for operating or capital expenses.
The tenant, Bandon Fitness, is the largest franchisee of Anytime Fitness with over 215 locations globally and over 140,000 members. They are a wholly owned subsidiary of Sentinel Capital Partners, one of the most experienced private equity investors in the US franchising space across a wide range of industries including restaurants, healthcare and consumer retail. Bandon Holdings was recently ranked number one on Entrepreneur’s prestigious Top Global Franchise List.
Located along West High Street, the subject property is positioned one block from the corporate headquarters and manufacturing facility for JM Smuckers, one of the nation’s leading providers of packaged consumer goods with leading brand names including Smucker’s, Jif Peanut Butter, Uncrustables, Folgers and more. The Orrville headquarters is a 901,000 square foot facility that is home to approximately 1,400 employees.
Investment highlights
Largest Anytime Fitness Franchisee - Bandon Fitness operates over 250 locations nationally with over 140,000 members and was recently acquired by Sentinal Capital Partners
Long Term Lease - Tenant signed a 15-year lease which commenced in July of 2022, leaving approximately 11 years remaining on the initial lease term.
Absolute NNN Lease – Zero landlord responsibilities for operating or capital expenses
10% Rent Increases Every 5 Years - The lease provides for 10% rent increases every 5 years during the initial term and fair market value adjustments between each of the two 5-year renewal options
One Block from the JM Smucker’s Corporate Headquarters and Manufacturing Facility - 901,000 square foot campus and home to approximately 1,400 employees
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
