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| Gianna New |
HOUSTON, TX– JLL Capital Markets has arranged the
sale of 24 Hour Fitness – Spring, a fee-simple interest single tenant retail
property in Spring, Texas. The price was not disclosed.
JLL worked on behalf of the
seller, in procuring the buyer, Silvestri Investment
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| Torri Rosene |
JLL Capital Market’s Investment and Sales Advisory team representing
seller was led by Senior Managing Director Ryan West, Senior Director John
Indelli, Director Alex Geanakos, Director Nick Franklin and
Analysts Gianna New and Torri Rosene.
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| Ryan West |
Situated at 1000 Lake Plaza Dr.,
24 Hour Fitness - The asset is located in City Place, a fully integrated,
mixed-used development containing 14M SF of commercial office, including
Exxon’s Global Headquarters.
This standalone
retail asset benefits from its convenient positioning off I-45, providing ease
of access to various hotels, major employers, as well as multi-housing
complexes.
With a 55% population increase from 2010 to 2023 within a 1-mile radius
and a significant daytime population of nearly 50,000 within a three-mile
radius, this location offers excellent growth potential and a robust customer
base.
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| John Indelli |
Spring, Texas is a five-mile
drive to the Woodlands, which was rated the #1 Best City to Buy a House and #3
Best City to Live in the U.S. in 2023.
The Woodlands is a highly successful master-planned community located
north of Houston, known for its exceptional quality of life. Since its
inception in 1974, The Woodlands has evolved into one of the nation's most
desirable 24/7 suburbs, offering diverse employment opportunities and
attractive amenities.
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Nick Franklin
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The 38,000-square-foot retail
building is located on 2.29-acres and was built in 2019. Occupied in its
entirety by a prominent fitness brand, 24 Hour Fitness is witnessing
significant growth in its membership base.
For more news, videos and
research resources, please visit JLL’s newsroom.
About Silvestri
Investments
Silvestri Investments is a privately held real estate
investment firm focused on property investments in the greater Houston, Texas
and Orlando, Florida areas.
With assets across various property types and
investment structures, Silvestri Investments has built a portfolio managed on
behalf of the Silvestri family. The firm's expertise encompasses the full risk
spectrum of real estate investments.
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24 Hour Fitness – Spring, a fee-simple interest single tenant
retail property in Spring, TX |
CONTACT:
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Senior Associate, Public Relations
JLL Capital Markets
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1980 Festival Plaza Drive
Suite 250
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Jones Lang LaSalle Americas, Inc.
a licensed real estate brokerage company.
CA RE license #01223413
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jll.com.
