24 Hour Fitness - Dallas, TX

Asset Type

Retail

Address
2300 Fort Worth AVE Dallas, TX United States 75211
Asking Price

Contact for pricing

Sq Footage

37,000

Year Built

N/A

Cap Rate

6.25%

Additional Attributes
Current / Passing Rent S$1,166,000
Escalations 10% Every 5 Years
Guarantor 0010Y00001L6tKuQAJ
Lease Expiration 2034-06-30
Lease Type NNN
Options 3 x 5-year options
Rent Commencement 2019-06-22
Tenant 24 Hour Fitness

Property Description

JLL is pleased to offer for sale the fee-simple interest in a new construction, build-to-suit 24 Hour Fitness (the ?Property? or ?Asset?) ideally located in the heart of Dallas, TX. Positioned along Fort Worth Avenue, 3.5 miles from downtown Dallas in Kessler Park, 24 Hour Fitness is located within a dense, infill, gentrifying area which has been a hotbed for upscale residential and multi-family/retail development. The Property is slated for opening in June 2019 and will feature a 15-year primary lease term with 10% escalations every five years. 24 Hour Fitness offers investors the opportunity to acquire a first to market, new generation health club, with limited competition and a long-term lease with irreplaceable real estate, neighboring Dallas's urban core.

Investment Highlights

  • Brand new 15-year net lease with 10% rental increases every 5 years
  • Urban, infill location 3.5 miles from downtown Dallas 
  • Leased to 24 Hour Fitness, one of the largest fitness chains in the US with over 430 locations
  • Only full service gym within a 4-mile radius
  • Newly constructed building with 20-year roof warranty
Listing Contacts
Caroline Binning
Vice President, Capital Markets
+65 3159 4021
Adam Howells
Adam Howells
Managing Director, Captl Mkts
+65 3159 4021
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