LA Fitness Center - Columbus

5959 N Hamilton Rd Columbus , OH 43230-8517

LA Fitness Center - Columbus - Retail for sale

Overview


JLL is pleased to offer for sale the leasehold interest in an LA Fitness-anchored retail center located at 5959 N Hamilton Road in northeast Columbus, Ohio. The Property is anchored LA Fitness on a long term, net-lease basis with strong corporate parent guarantee provided by Fitness International, LLC, the parent company of LA Fitness. LA Fitness accounts for 82% of NOI, providing tremendous security with a lease term through June of 2027. The Asset is strategically positioned within a well-tenanted shopping center across from the highly-anticipated Hamilton Quarters development, a 320-acre project currently undergoing phase one construction. This opportunity provides attractive cash flows from a diversified tenant roster whose weighted average lease term exceeds eight years. The combination of salient features, including desirable retail location, national tenancy, long-term lease structure, and dense population base, makes this investment an excellent opportunity to acquire one of the most desirable net lease investments available in the market.

Investment Highlights


Direct Positioning Across from Major Development
Anchored by Nationally Leading Fitness Operator
Ownership has the right to acquire fee-simple title in 2022
Excellent Retail Fundamentals in Submarket
Healthy Surrounding Urban Demographic Base
General
Property Type Retail
Tenure Type Sale / Purchase
Property Address 5959 N Hamilton Rd, Columbus, OH 43230-8517
Land In Acres 6.28
Building Size 73,081  ft2
Financial
Price $17,723,375
Cap Rate 8.80%
Current NOI $1,559,657.00
Lease
Tenant's Name L A Fitness LLC
Guarantor FITNESS INTERNATIONAL, LLC
Credit Rating (S&P) B+
Guarantor Credit Rating (S&P) B+
Lease Type NN
Lease Expiration Date 06/30/2026
Remaining Term 7.2Yrs

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