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| LA Fitness, 220 North Sanderson Avenue, Hemet, CA |
HEMET, CA, March 13, 2014 – Marcus & Millichap (NYSE:
MMI), a leading commercial real estate investment services firm with offices
throughout the United States and Canada, today announced the sale of a
50,000-square-foot LA Fitness in the Southern California city of Hemet.
The $11,175,000 sales price equates to $224 per square foot.
Mark
Thiel, a vice president investments in Marcus & Millichap’s San Diego
office, represented the seller, a local property owner.
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| Mark Thiel |
“This LA
Fitness is located at the busiest intersection in Hemet and is the only major
fitness center in the entire San Jacinto Valley,” says Thiel. “The small supply
of competitors in the region and club’s central location place it in an
excellent position to capture a high level of memberships.”
LA
Fitness in Hemet was built in 2008 on 5.6 acres and is 100 percent leased to
Fitness International LLC. It is located on the corner of West Florida Avenue
(California State Route 74) and Sanderson Avenue at 220 North Sanderson Ave. in
Hemet.
West Florida Avenue and Sanderson Avenue combine for a
traffic count in excess of 70,000 vehicles per day. Florida Avenue is Hemet’s
major retail corridor and the Hemet Valley Mall, anchored by J.C. Penny, Sears
and Gottschalks, is less than a mile east of the property.
For a complete copy of the company’s news release, please
contact:
Gina Relva,
Public Relations Manager
(925) 953-1716
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