Hanley Arranges Sale of CA Fitness Center
- Jan 12, 2018
Hanley Investment Group Real Estate Advisors has arranged the sale of a 31,062-square-foot, single-tenant commercial space in Brentwood, Calif. The company worked on behalf of the seller, a family trust, whereas the buyer was self-represented in the deal. The asset is occupied by In-Shape Health Clubs, a non-national gym brand founded in 1981.
Located at 180 Griffith Lane, In-Shape is located near Brentwood Elementary, Brentwood Family Aquatic Center and Bentwood Senior Activity Center. Additionally, a newly constructed 160-unit, single-family development is located across the street. The freestanding building occupies 2.5 acres within a shopping center. Constructed in 2004, the asset was a build-to-suit for In-Shape. The lease agreement with the tenant extends through 2027.
“Brentwood is becoming the next big investment in the East Bay. The population growth is tremendous in the area while household income levels remain strong, which is foretelling of the area’s future,” said Eric Vu of Hanley Investment Group, in prepared remarks. “Currently, there are over 116,000 people with an average household income in excess of $110,000 within five miles of the site.”
Vu worked on behalf of the seller in the transaction. Last year, Hanley Investment Group arranged the sale of LA Fitness, a 37,000-square-foot fitness facility in Elmhurst, Ill.
Image courtesy of Hanley Investment Group