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8/14/23
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A portfolio of seven single-tenant, EoS Fitness properties was acquired by a publicly traded REIT in a $94 mil transaction. Five of the assets are located in Arizona and two are in Florida.
The portfolio was comprised of three new construction gyms that opened in 2023 as well as four formerly vacant grocery stores that are currently undergoing improvements. All of the properties have 15-year, corporate-guaranteed, triple net leases in place with scheduled rental increases.
Following is information on each of the assets:
• 9101 E. Baseline Rd, Mesa, AZ – 57.8k sf*
• 27 40 E. University Rd, Mesa, AZ, -- 51.7k sf*
• 750 E. Guadalupe Rd, Tempe, AZ – 63.8k sf*
• 11275 E. Via Linda Rd, Scottsdale, AZ – 46k sf*
• 20722 E. Riggs Rd, Queens Creek, AZ -- 40.4k sf**
• 5891 South Gornto Lake Rd, Riverview, FL – 40.4k sf**
• 2194 Argosy Drive, Lutz, FL 40.4k sf**
*Former grocery store that was vacant and is under renovation for EoS Fitness with completion in 2023
**New construction
Patrick Nutt and William Wamble with SRS Real Estate Partners represented the seller, Barclay Group a national development company. SRS’ Tyler McRae, along with Echelon Realty Advisors in Phoenix, were responsible for leasing the assets on behalf of EoS Fitness.
Barclay Group worked with EoS Fitness, SRS, and Echelon in identifying and acquiring the properties, which included a portfolio of surplus stores from a prominent grocery-chain. Over the past five years, Barclay Group has partnered with EoS Fitness to open more than 25 locations across the country.
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