LA Fitness - Hilliard

1800 Tanglewood Park Blvd Hilliard , OH 43026-8627

LA Fitness - Hilliard - Retail for sale

Overview


JLL is pleased to offer for sale 1800 Tanglewood Park Boulevard, located in Hilliard, Ohio. The Property is leased to Fitness & Sports Clubs, LLC on a long term, net-lease basis with strong corporate parent guarantee provided by Fitness International, LLC, d/b/a LA Fitness. The Asset is strategically positioned within a well-tenanted shopping center in the midst of a dense retail corridor and adjacent to Sams Club. This opportunity provides an attractive cash flow with a nationally recognized tenant that is the market leader within its competitive industry peer group. 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


Location within Dense Retail Corridor
Desirable Lease Structure and Parent Guarantee
Leading Fitness Operator
Dense Surrounding Population Base
Pro-Business Metropolitan Market
Primary Health Club to Local Residents
General
Property Type Retail
Tenure Type Sale / Purchase
Property Address 1800 Tanglewood Park Blvd, Hilliard, OH 43026-8627
Land In Acres 3.41
Building Size 54,261  ft2
Financial
Price $18,238,000
Cap Rate 7.20%
Current NOI $1,313,116.00
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 04/30/2027
Remaining Term 8Yrs