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8/22/16
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24 Hour Fitness USA inked a 15-year, $11 mil lease for a 33.5k sf gym ($1.82/sf/mo) in Huntington Beach. The fitness chain’s new location is within Huntington South Shopping Center, located at 9051 Atlanta Ave, between Brookhurst St and Beach Blvd.
Huntington South Shopping Center includes a total of nine retailers and service providers, including a national coffee and sandwich chain. It is located in a predominantly residential community and is approximately two miles from Huntington Beach Pier and Pacific Coast Highway.
CBRE’S Richard Rizika represented the landlord, Huntington South Center LLC, in the lease. The tenant was represented by Avison Young.
Orange County is an affluent and retail-dependent population, and the region’s median household income is higher than all neighboring counties at $77,162, according to CBRE’s second-quarter research report. Strong growth projections paired with steady visitor numbers have positioned the region as the ideal location for a number of retailers. The average asking lease rate of $2.18 per square foot reflects a year-over-year growth of 6 cents, according to the report.
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