"They've already taken possession," JBGR's Grant Ehat tells GlobeSt.com. "It's a done deal." The lease is for a 10-year term, but the parties involved are not releasing the financial details of the agreement. However, rents in the 11-year old City Place Mall range from $12 per-sf to more than $40, depending on the use of the space and the type of space being leased.
Explaining the strategic placement of this particular franchise, Ehat says, "This is an area we feel is under-served for gyms. We've been looking for years for the right location at the right rent, and then this came along."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
