1175 Virginia Dr
Fort Washington, PA 19034
LA Fitness · Retail Property For Sale

CBRE is pleased to exclusively present for sale this LA Fitness property located on Virginia Drive in Fort Washington, PA, a suburb of Philadelphia. LA Fitness has been operating at this site since 2004 and recently extended its lease an additional 10 years, showing a strong recommitment to this location. This is a NNN lease with no landlord responsibilities or expenses, which is a rare lease structure in the gym category. There are also highly sought after rental increases every 5 years in the base term of the lease and in each option to renew. LA Fitness is ideally situated just off I-276 (The Pennsylvania Turnpike) with immediate access to and from, along with unparalleled visibility for over 115,000 vehicles traveling by daily. The gym was constructed slightly taller than the average LA Fitness to accommodate a second floor should the building be converted to an office use. The site is surrounded by numerous complementary uses, as it is located across from the Fort Washington Office Park, the primary center of business and industry in Upper Dublin Township. The Office Park consists of over 100 properties covering 536 acres and containing approximately 6 million square feet of commercial space, adding to the daytime population of 91,857 within 3 miles of the site. LA Fitness also fronts Virginia Drive, the main corridor through the Fort Washington business district with traffic counts over 15,000 vehicles per day and home to national retail tenants including Chipotle, Starbucks, Wawa, McDonald's, Dunkin' and Rite Aid to name a few. This is an affluent market with the average household incomes over $188,000 in the 1 mile ring and over $120,000 in the 3 mile ring. The total residential population is 4,609 within 1 mile of the site, 82,356 within 3 miles and 220,984 within 5 miles. This versatile location along with strong underlying real estate fundamentals, a successful tenant and zero landlord responsibilities makes this the ideal investment for the astute investor.