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September 19, 2020
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CO 24 Hour Fitness Property Trades for $22.75 Mil


A 45.5k sf 24 Hour Fitness located in Highlands Ranch, CO sold for $22.75 mil, which equates to $500 per square foot. The property is located at 6830 E County Line Rd, west of I-25 and just north of Hwy 470.

Built in 2010 on 3.4 acres, the property is centrally located within Highlands Ranch, a 22,000-acre master-planned community 12 miles south of Denver. The population of Highlands Ranch is 96,000 and the median income within a five-mile radius of the 24 Hour Fitness is $129,164.

“The recent extension that pushed the lease term to 17 years demonstrates the tenant’s strong commitment to the site and ensures long-term rental income for the new landlord,” commented Floyd Shaheen with Marcus & Millichap. Shaheen secured the buyer, a private investor. Mark Thiel, also with M&M, repped the seller, ACRE Investment Company LLC.

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