Planet Fitness - Fort Wayne, IN

1916 W Dupont Rd Fort Wayne , IN 46818

Planet Fitness - Fort Wayne, IN - retail for sale

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Overview



JLL is pleased to offer for sale the fee-simple interest in a single-tenant Planet Fitness asset in Fort Wayne, IN, located within an affluent pocket of the market which earns over $92,000 of average annual household income within a one-mile radius. Planet Fitness has demonstrated outstanding corporate growth, generating over $572 million in revenue in 2018 and reflecting a 19.6% CAGR over the 2014 - 2018 timeframe. The lease is guaranteed by BCDI Great Lakes Holdings Inc, a 29-unit Planet Fitness Operator with locations throughout Indiana and Michigan, two states among the nation’s lowest on key health indicators like blood pressure and obesity. The guarantee is affiliated with Impact Fitness, an operator within Bain Capital’s Double Impact Fund (DIF). Bain's DIF is an investment strategy focused on mission-driven companies and visions.


Investment highlights


  • Prime location in bustling commercial plaza next to Walmart Supercenter
  • High-earning, growing, and populous demographic profile
  • Newly-built asset benefiting from sensational company-wide sales growth
  • Strategically positioned to capitalize on emerging & strengthening fitness trends
  • Full corporate guaranty through Bain Capital-backed 29-unit Planet Fitness operator
General
Property type Retail
Tenure type Sale/Purchase
Property address 1916 W Dupont Rd, Fort Wayne, IN 46818-7500
Land in acres 2.08
Building size 25,000  ft2
Year built 2013
Financial
Price $2,932,100
Cap rate 8.10%
Current NOI $237,500.00
Lease
Tenant's name Planet Fitness
Lease type NN
Annual rent $237,500.00
Lease expiration date 07/31/2024
Remaining term 4.9Yrs

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