Consumers’ focus on fitness has given rise to an unexpected yet flourishing new retail tenant: health clubs and gyms. Between the closings of some big-box retail stores and consumer demand for live-work-play developments, brands such as Crunch Fitness, SoulCycle, Orangetheory and many smaller boutique fitness studios are breathing new life into the country’s shopping centers. In many instances, gyms have become the premier anchor tenant that transforms a shopping center and drives foot traffic or a convenient addition to keep consumers longer at grocery-anchored centers.
Understanding how a health club or fitness studio can fit successfully into a retail center requires careful consideration of a broad range of factors, including location, population growth, trends in demographic shifts and tenant’s creditworthiness.
The team at Orion works with investors, developers, property owners and brokers through all phases of real estate transactions, from strategic planning and analysis to financing, negotiation, property management and disposition. For more information, call (305) 278-8400 or email firstname.lastname@example.org.