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5/07/15
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Planet Fitness recently inked a deal for a new Los Angeles location, just outside of downtown. The firm agreed to a 10-year, $5.7 mil lease for a 21.3k sf ($2.23/sf/mo) gym at 1000 E. Washington Blvd, just south of the 10 Fwy near Central Ave.
Planet Fitness’ new location was previously occupied by Casa Linda Furniture, which is relocating. The gym chain is making significant renovations to the space and is anticipated to open in October 2015. Other tenants at the property include Auto Zone, Boost Cellular and Subway.
George Russell, director with Charles Dunn Company, represented the property owner, Miracle Mile Properties. SRS Real Estate Partners repped Planet Fitness, a rapidly growing fitness franchise with more than 900 locations across the country.
“Planet Fitness chose this location as it is within a densely populated area that has seen strong growth in retail amenity offerings over the past several years,” said Russell. “Superior Super Markets and Fresh & Easy have opened stores nearby, and vacancy rates are decreasing. New retailers seek to be a part of the synergy created with a variety of shopping, dining and other service options for local residents and businesses.”
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