MIAMI—An LA Fitness in Stuart, FL has won the attention of investors. Realty Income Corporation snapped up the property from Jensen Beach Investors, LLC for $10.95 million.
Pointe Development Company, a Miami-based real estate development, management and investment firm whose president is Alan Sakowitz, developed the LA Fitness. Pointe hired CBRE to market the asset for sale and negotiate the transaction.
“In operation since 2010, this proven national health club tenant is strategically located to serve the growing commercial and residential areas of Stuart and Jensen Beach,” says Todd Weintraub, a senior associate with CBRE, who brokered the sale. Weintraub worked with CBRE first vice president Dave Donnellan on the transaction.
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