Asking Price
Area Size
NOI Net Operating Income
NIY

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Attributes

Year Built 2019
Building Area Gross
Occupancy 100.0 %

Asset Description

Jones Lang LaSalle (“JLL”) Capital Markets, Net Lease is pleased to exclusively offer a premier net lease opportunity to acquire a single tenant VASA Fitness (the “Property”) located less than 3 miles south of downtown Oklahoma City. OKC ranks 6th in the United States for population growth since 2010 and has earned a Moody’s AAA rating for 12 straight years. This VASA Fitness is on a long-term, corporately-guaranteed lease paying a low base rent of $10.83 PSF with a quickly approaching 10% increase in 2024. The Property is the 5th most visited gym in Oklahoma and ranks in the 95th percentile in the United States (Placer.ai). VASA Fitness is a top-20 health club operator in the country with nearly 50 locations and has seen nearly 200% membership growth since 2014.


Broker of Record: Barry Brown | Jones Lang LaSalle Americas, Inc. | #OKC-140058 | barry.brown@am.jll.com

Investment Highlights

  • Corporately guaranteed lease with 12+ years of term, low rent PSF, and quickly approaching 10% base rent increase
  • Top-5 most visited gym location in Oklahoma and 95th percentile in the U.S. with a captive customer base
  • Top-20 largest health club chain with high class amenities & explosive membership growth of nearly 200% since 2014
  • OKC – #2 most affordable metro in the U.S. with cost of living more than 14% below the national average
  • OKC – High population growth of 23% since 2000 and third-lowest unemployment rate in the U.S. since Oct-2021
  • Excellent submarket location with #1 Walmart NM in OKC and complementary 31-acre major medical campus
  • Unparalleled market share between two perfectly spaced OKC locations resulting in ideal market coverage
  • Easy access to-and-from downtown OKC with surrounding commercial & military aviation hubs
Last Updated Date: 11 Aug 2022

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Last Updated Date: 11 Aug 2022

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