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4/26/23
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A private investor from Ventura paid $6.4 mil for a newly renovated, 24k sf ($267/sf) single-tenant property now occupied by Planet Fitness adjacent to Ventura College in Ventura. The property was sold by an affiliate of MJL Capital Partners LLC, based in Beverly Hills.
The building is located on a 1.46-acre parcel at 5171 Telegraph Rd. The investment features a new 12.5-year triple-net lease with one of the leading Planet Fitness franchisees in the U.S. - 70 locations with plans to grow to over 100.
The property is situated located near State Route 126 and the 101 Fwy, connecting Ventura to Los Angeles and Santa Barbara, as well as the Santa Clarita and San Fernando valleys and the High Desert of the Antelope Valley.
Planet Fitness Inc is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by the number of members and locations. The chain has more than 2,400 locations in all 50 states and the District of Columbia, Puerto Rico, Canada, Panama, Mexico, and Australia.
Bill Asher, Jeff Lefko and Ed Hanley with Hanley Investment Group Real Estate Advisors represented the seller in the transaction. The all-cash buyer was repped by Brian Hughes, also based in Ventura.
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