This Retail Property is Off-Market.

6115 West Markham Street
Little Rock, AR 72205 ·

47,500 SF · Retail For Sale

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LA Fitness

Price N/A Cap Rate 7%
Building Size 47,500 SF Tenancy Single
Property Type Retail Year Built 2013
Property Sub-type
Retail Pad
More...
  • Free Standing Bldg
  • Retail (Other)
Lot Size 1.63 AC
Property Use Type Net Lease Investment with 10+ years left on lease
Listing ID: 18236394 Date Created: 06/25/2013 Last Updated: 02/13/2014

Description

LA Fitness is a privately owned American health club chain with over 500 clubs across 25 US states and Canada making it the largest gym chain in the US. The company was formed in 1984 and is based in Irvine, California. In 1995, LA Fitness designed and built a new multipurpose sports and fitness club that became the company' s signature model at the time. This prototypical design starts with the strength and cardio equipment, free weights and group exercise room that are found in most fitness centers and adds a swimming pool and court sports (basketball and racquetball in most locations) to offer LA Fitness members a wider variety of workout options. In 2007, the company expanded outside of the United States by way of an acquisition of six fitness clubs, in Toronto, Canada. Also of notable size, in 2010 the company acquired 10 locations in Phoenix from Pure Fitness Arizona. On July 2, 2012, the company completed the acquisition of all 33 Lifestyle Family Fitness Clubs in Florida. LA Fitness remains a privately owned company, with major ownership interests held by private equity firms Seidler Equity Partners, CIVC Partners and Madison Dearborn Partners.

The subject property is located at the intersection of University Avenue (21,954 Cars / Day) and Markham Street (24,797 Cars / Day). The site is across from Midtowne Little Rock (136,865 SF), a newly constructed, open-air lifestyle center. Tenants in Midtowne Little Rock include The Container Store, Pottery Barn, Williams-Sonoma, Ann Taylor LOFT, Lewis & Clark, Pei Wei Asian Diner, and Starbucks. Also across from Park Plaza which boasts 546,000 square feet of retail space, and houses Abercrombie & Fitch, Aeropostale, ALDO, American Eagle Outfitters, Ann Taylor, Banana Republic, Bath & Body Works, Coldwater Creek, Crabtree & Evelyn, Dillard' s, Eddie Bauer, Gap, Gap Maternity, GapKids/Baby Gap, Gymboree, Lane Bryant, The Limited, Limited Too, Talbots, Talbots Petites, Talbots Woman, Victoria' s Secret, and Zales.

Highlights

  • Brand New 47,500+/- SF Building on 1.63+/- Acres
  • Corporate, 15-Year, Net Lease, With 10% or CPI Increases Every 5-Years
  • Lessee: LA Fitness | Largest Gym Chain in US With 500+ Locations
  • At University Ave (21,954 Cars / Day) & Markham St (24,797 Cars / Day)
  • Adjacent to Target & Staples | Across From Dillard's Anchored Park Plaza (546,000 SF)
  • Little Rock, AR | MSA Population: 699,767

Research

6115 West Markham Street, Little Rock, AR 72205 (Pulaski County)

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