1150 Washington Blvd
Ogden, UT 84404
VASA Fitness · Retail Property For Sale

NNN Fitness of Marcus & Millichap is pleased to offer the opportunity to acquire the VASA Fitness Center building in Ogden, Utah. This two-tenant, 54,743 square foot building is occupied by VASA Fitness, which signed a 15-year lease commencing January, 2016, and America First Credit Union, which has a NNN lease with 7 years remaining. VASA Fitness is the largest operator of fitness clubs in Utah with 28 locations and over 255,000 active members. The clubs feature top-of-the-line equipment, fitness classes, certified personal trainers, and staffed onsite child care centers. In 2014, Silver Oak Services Partners, a private equity firm focused exclusively on service industry business investments, purchased a 75% stake in VASA Fitness, which was formerly a franchisee of Gold’s Gym. VASA Fitness boasts over a 70%+ market share throughout the Salt Lake Valley. The property is centrally located along one of the primary retail corridors in Ogden, and part of the 12th Street Plaza, a Shopko-anchored shopping center in close proximity to several residential developments. Other surrounding tenants include Walgreens, Chick-fil-A, Wendy’s, and Jiffy Lube. The property is offered without any restrictive debt, thereby allowing a buyer to pay cash or obtain new debt as desired at today’s attractive interest rates. Given its ideal mixed-use neighborhood location and strong demographics from which to attract new membership, a significant financial partner, strong rebranding and long-term absolute NNN lease, the VASA Fitness Center building is well positioned to provide consistent returns.