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MARICOPA COUNTY, AZ-With plans to build a third facility in the Valley, Lifetime Fitness Inc. of Eden Prairie, MN, has acquired 9.1 acres at the southwest corner of Mayo Boulevard and 70th Street. The health-club operator has paid $7.3 million to Opus West Corp. for land in an unincorporated area of Maricopa County on the Phoenix-Scottsdale border.
Lifetime Fitness, which has its own in-house design and construction team, plans to break ground this quarter on a 110,000-sf sports, professional fitness, family recreation and resort/spa center facility. The $15-million project will be completed in the fall.
"Lifetime likes the demographics of the Northeast Valley," says Darren Pitts, a senior vice president with CB Richard Ellis Inc. He tells GlobeSt.com that Lifetime Fitness looked for a Northeast Valley site for more than a year. Its other facilities are in Tempe and Chandler.
"They prefer locations that are very dense and very affluent with an above average median household income," Pitts says. "The North Scottsdale customer is very affluent." Moreover, he points out the new location is close to several employment centers, including the Scottsdale Airpark.
According to Pitts, Lifetime Fitness is hoping to open at least two more facilities in the Valley. He partnered with CBRE's Dave Cheatham and Ed Beeh to represent Lifetime Fitness while the firm's Jim Fijan and Jerry Roberts, also in the Phoenix office, negotiated the sale on behalf of Opus West Corp.
Lifetime Fitness facilities usually offer 24-hour access to more than 400 pieces of cardio-, resistance and free-weight training equipment in addition to rock climbing walls, full-size basketball courts, squash and racquetball courts and dry sauna and steam rooms. The facilities boast large indoor and outdoor aquatics center with waterslides, zero-entry recreation pools, a lap pool, children's play area and whirlpools.
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