Club Studio (LA Fitness)
43,419 SF | Retail Building | South Windsor, CT 06074 | $13,785,714 ($318/SF) | 7% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $13,785,714
- Property Type
-
Retail, Health Care
- Square Feet
- 43,419 SF
- Price / Square Foot
- $318
Listing Contacts
Robert Horvath
Verified Profile
Todd Tremblay
Verified Profile
Matthew Nadler
Verified Profile
- Property Info
Property Overview
Horvath & Tremblay is pleased to present the opportunity to purchase the fee simple condominium interest in Club Studio (LA Fitness), a single tenant Absolute NNN Leased investment property located at 100 Cedar Avenue in South Windsor, Connecticut (the “Property”). Club Studio is Fitness International's newest concept featuring unrivaled luxury amenities and boutique studio experiences all under one roof. This offering features a brand new 15-year Absolute NNN Lease (signed by the parent company of LA Fitness). The Absolute NNN lease has three (3), 5-year renewal options and calls for attractive rent increases every 5 years throughout the primary lease term and at the start of each renewal option. Club Studio is positioned along Cedar Avenue and is part of The Shops at Evergreen Walk, Connecticut’s premier, outdoor Lifestyle Center offering an outstanding collection of the most coveted national brands, specialty retailers and restaurants in South Windsor and the surrounding market. The Property is positioned on the perimeter of Evergreen Walk and offers outstanding frontage and visibility along Buckland Road (CT Route 194), one of the area’s primary commercial and commuter corridors. Club Studio is 1.2-miles from Interstate 84, and 2-miles from Interstate 291. The Property is close to the Shoppes at Buckland Hills (enclosed mall), Manchester Memorial Hospital, area’s schools, several larger shopping centers, and new construction residential developments that drive traffic to the area and provide a built-in customer base.
Property Details
- Class
- B
- Year Built
- 2004
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 220,849 SF
Highlights
- Long Term Lease
- Attractive Rent Increases
- Zero Management Responsibilities
- Corporate Guarantor
- Outstanding Location
- Strong Demographics
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