"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."
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