LOS ANGELES, CA – Capital Square Realty Advisors, LLC
announced it has acquired a 37,500-square-foot retail building 100 percent
leased to 24 Hour Fitness USA Inc.,
in the Los Angeles suburb of West Covina, Calif.
“This property is leased on a long-term, triple net basis to
one of the largest, privately owned and operated fitness center chains” said Louis Rogers, founder and chief
executive officer of Capital Square Realty Advisors.
“Net leased
properties in Greater Los Angeles have experienced a dramatic increase in
value, and we couldn’t be more pleased to add this asset to our growing real
estate portfolio, which now includes 23 properties across the U.S. valued in
excess of $260 million.”
The two-story building is located at 1530 W. Covina Parkway, approximately 19 miles east of downtown Los
Angeles, in the eastern San Gabriel Valley.
 |
| Rusty Tweed |
Capital Square would like to recognize TFS Properties, Inc., doing business as TaxGuard1031, a California licensed real estate broker, which served as Capital Square’s real estate broker and was the procuring cause for this off-market acquisition.
Rusty Tweed is the President of TFS Properties, Inc. and is a registered representative with FINRA member firm Concorde Investment Services, LLC.
The 1.6-acre property includes a
three-level, free-standing parking garage, and is designed as a 24 Hour Fitness
“Sport” facility. Amenities of the club include cardio equipment, circuit
training, a kids club, sauna, steam room, and lap pool, among others.
Founded in 1983 in San Leandro as a one-club operation, 24
Hour Fitness currently has more than 400 locations in 18 states and three
countries, upwards of 3.8 million members in excess of $1.25 billion in annual
revenue.
A global fitness leader, the company has been ranked by Club
Industry’s (www.clubindustry.com) “Top 100 Health Clubs” as No. 2 in 2013 and
2014, and No. 1 in 2011 and 2012.
For a complete copy
of the company’s news release, please contact:
Julie Leber
Spotlight Marketing Communications
949.427.5172, ext. 703
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