Fortunately, the property owner was willing to build out 6,000 square feet of column-free space at no cost to the tenant. High ceilings are also a huge plus for fitness tenants and this space came outfitted with 16-foot ceilings. In addition to this space, the company has significant amounts of office space. This includes 28,019 square feet in Manhattan, plus multiple other offices around the world.

Considering the rate at which the demand for fitness is growing, it wouldn't be surprising if property owners began to enter the business of fitness themselves instead of just leasing their retail spaces to boutique fitness brands. It's also likely that combination uses will become more popular. Many Equinox members currently use the space as a place to work out as well as a place to get work done, thanks to the luxurious lounge areas and wireless internet connections. I predict that this type of arrangement will grow as consumers always like having a one-stop shop for multiple needs and it's advantageous for property owners as well in terms of growing the value of their spaces.

With so many options for working out nowadays, whether at a big box gym such as Equinox, at a boutique fitness studio, or via an app from the comfort of your own home, brokers working with these tenants will stay busy as long as they're ready to adapt to the next trends to arrive in this rapidly changing market.

Justin Myers played professional soccer for five years, with Chivas USA, the Puerto Rico Islanders and Hoa Phat Hanoi in Vietnam. He is now a senior managing director and principal at Lee & Associates NYC. The firm provides corporate advisory and real estate services including office and retail brokerage, sales and investments and project and property management. The views expressed in this article are the author's own and not those of ALM's Real Estate Media Group.