Freestanding LA Fitness

Property Details

Asking Price:
$11,870,833
Tenancy:
Single Tenant
Property Type:
Single Tenant
Lease Term:
15 years
Square Footage:
37,000 sqft
Year Built:
2020
Lot Size:
3.98 acres
NOI:
$712,250

Freestanding LA Fitness

War Room

Confidentiality Agreement

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Property Overview

  • Largest Privately-Owned Health Club Provider in The Nation.
  • Newly Constructed Prototype
  • Over 75,000 People Within a Three-Mile Radius with Average HH Incomes Exceeding $107,000
  • No State Income Tax
  • Shadow-Anchored to New 123,000 SF Kroger Marketplace
  • Internet-Resistant Tenant
  • Combined Traffic Counts of Over 95,000 VPD at the Intersection
  • Brand New 15.5-Year Lease
This freestanding ± 37,000 square foot LA Fitness is among the first handful of clubs in the nation using LA’s new prototype building. The club sits on 3.98 acres of land at the NWC of US 287 and W Sublett Road in the densely established trade area of south Arlington, Texas and is shadow-anchored by a newly completed 123,000 square foot Kroger Marketplace grocery store. The lease has a 15.5-year primary term with three 5-year options commencing on or about March 1st, 2020. The site has excellent exposure to a combined traffic count of over 95,000 vehicles per day along US 287 and W Sublett Road. This site is centrally located within the Dallas-Fort Worth trade area, approximately 10 miles from downtown Fort Worth to the west and approximately 24 miles from downtown Dallas to the east. Arlington, TX is the seventh most populated city in Texas with a population of 398,112 people.

The Dallas-Fort Worth metroplex is the largest metropolitan area in Texas, the largest in the South, and fourth largest in the U.S. with a population of 7,539,711, according to the new 2019 U.S. Census population estimates. Overall, DFW is the 11th largest metro economy in the world and has a gross metro product exceeding $535 billion according to the Bureau of Economic Analysis. As a result, the metroplex benefits from the 24 Fortune 500 company headquarters and the 43 Fortune 1000 headquarters located throughout DFW. Arlington’s robust economy can primarily be attributed to its economic diversity with industries ranging from education, manufacturing, retail, entertainment, and health care. The city is home to the University of Texas at Arlington (42,496 students), General Motors, The Parks Mall at Arlington, The Dallas Cowboys, The Texas Rangers, Six Flags Over Texas amusement park, and Texas Health Resources.

This LA Fitness location benefits from a dense three-mile population with over 75,000 people and an average household income of over $107,000 per year. In addition to the newly constructed Kroger Marketplace, Albertsons grocery store has operated a location at the SWC of the intersection since 2002 which is currently ranked eighth out of their 34 DFW locations. Other prominent retailers at the intersection include Starbucks, Chick-fil-A, Whataburger, Andy’s Frozen Custard, Taco Bell, Burger King, Jack in the Box, and Chicken Express. This collection of restaurants along with two major grocery stores make W Sublett Road and US 287 the main daily needs intersection in the trade area and ensures the long-term stability of this asset.