24 Hour Fitness Moving Into Imperial Marketplace
The 24 Hour Fitness health club chain has signed a $13.9 million, 15-year lease to move into the Imperial Marketplace shopping center, broker CB Richard Ellis said July 14.
The San Ramon-based chain will move into a 37,945-square-foot building, which is scheduled for completion in summer 2009. Imperial Marketplace is a 275,000-square-foot center at 355 Marketplace Ave. in Southeast San Diego, anchored by The Home Depot and 99 Cents Only. The center also includes Navy Federal Credit Union, KFC, Sizzler and Starbucks.
Neece Commercial represented the lessor, PDP Imperial Partners LLC. CB Richard Ellis broker Dave Hagglund represented 24 Hour Fitness. Hagglund has negotiated several leases for 24 Hour Fitness in the past 18 months, including a 15-year, 35,000-square-foot lease at 324 Sycamore Avenue in Vista worth approximately $11.5 million, and an 11-year, 14,700-square-foot lease at the southwest corner of Rose Street and Valley Parkway in Escondido worth approximately $4 million.
Founded in 1983, 24 Hour Fitness is the world's largest privately owned and operated fitness center chain.
Ned Randolph
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