9425 Jones Rd
Houston, TX 77065
Planet Fitness · Retail Property For Sale

Planet Fitness is the tenant in a 21,069 square foot retail building situated at the intersection of Jones Road and West Road in the northwest Houston area called Jersey Village. The building was built in 1994 and renovated in 2017. The tenant signed a 10 year lease in 2018 with rental escalations at the beginning of the sixth year. The tenant reimburses for real estate taxes, insurance and common area expenses. The landlord is responsible for roof, walls and foundation. The tenant is responsible for repairs and maintenance. The tenant and guarantor is PF Houston, LLC, a franchisee which operates 24 clubs in the greater Houston area. Demographics are strong in the area. Within a one and three mile radius, average household incomes are $77,000 and $90,000 respectively while population in the same area is 20,000 and 111,000 respectively. Major traffic generators in the area include H-E-B, Kroger, Aldi, and Food Town, each of which are on different corners of the intersection. Planet Fitness (PFIP LLC) is an American franchisor and operator of fitness centers. The company was founded in 1992 and is based in Hampton, New Hampshire. The company currently has approximately 1,742 clubs. They have locations in Canada, Dominican Republic, Panama, and Mexico. It markets itself as a “Judgment Free Zone” that caters to novice and casual gym users and is reported to be the nation’s fastest growing fitness center franchisee. In the fall of 2013, TSG Consumer Partners, LLC became an equity partner in the Planet Fitness franchise. The company reports that as of 2019, there are 76 corporate-owned gyms while the rest are independently owned and operated. The company is publicly traded on the NYSE and is currently trading at $81 per share. S&P has given Planet Fitness a BBB- rating.