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Retail NNN Investment Offering1717 Hacienda Blvd, La Puente, CA
New Price: $5,125,000 | Cap Rate: 6% | Size: 20,500 SF• New 15 Year NNN lease• Rent increases every five years• Densely populated in-fill location (over 500,000 within 5 miles)• Strong visibility and frontage on major artery• Over $1MM of new improvements by tenant• Co-tenants: 99c Store, Fallas Paredes• Neighboring tenants: Ross, Food 4 Less, Big 5
Exclusive Listing Brokers Scott LandgrafSenior Vice [email protected] ColburnSenior Vice [email protected] SRS Real Estate Partners 610 Newport Center Drive Suite 400 Newport Beach, CA 92660 949.698.1100 www.srsre.com
The information contained herein was obtained from sources deemed to be reliable. However, SRS Real Estate Partners makes no guarantees, warranties, or representations as to the completeness or accuracy thereof. Published: 05.31.2013
Planet Fitness 15 Year Absolute Net Lease
Retail NNN Investment Offering1717 Hacienda Blvd, La Puente, CA
New Price: $5,125,000 | Cap Rate: 6% | Size: 20,500 SF
The information contained herein was obtained from sources deemed to be reliable. However, SRS Real Estate Partners makes no guarantees, warranties, or representations as to the completeness or accuracy thereof. Published: 05.31.2013
Planet Fitness 15 Year Absolute Net Lease
Planet FitnessPlanet Fitness® is anything but your ordinary gym. With a friendlier, no–pressure version of the traditional gym, we have a business model that works! Clearly, this innovative and successful concept is the RIGHT CHOICE, RIGHT NOW.
Planet Fitness opened its first location in 1992 and since has grown to over 600 locations globally, only closing one location – ever. Primarily a franchise driven fitness operation, Planet is most recently recognized for its sponsorship of The Biggest Loser reality television show.
A recent merger with Northern California based investment firm TSG Consumer Products has provided new focus on expanding the Planet Fitness Brand throughout California where there will be over 25 locations by the end of 2013 – with a dramatic growth plan over the next 5 years. In fact, California has become very fertile ground
for Planet Fitness as several recent openings have set membership and sales records within the chain.
As the most innovative health club brand in the United States, Planet Fitness is known for a lot of things – low membership prices, the Lunk™ Alarm, and most of all perhaps, its Judgement Free Zone® philosophy, which means members can relax, get in shape, and have fun without being subjected to the hard-core, look-at-me attitude that exists in most gyms.
Investment Highlights
Stable Cash Flow - Triple Net Lease with Planet Fitness Tenant provides stable income stream and growth for 15 years with 10% rent increases every five years.
Absolute Net Lease– No landlord Responsibility
Investment Security – Tenant is investing approximately $1MM in tenant improvements to the premises and another $1MM into FF&E and enhancements.
Strong Tenant – Only closing one location since inception, Planet Fitness is the Nation’s largest Fitness Company. Planet recently exceeded the 600 locations mark with another 150 or more to be built in 2013. Additionally, by the end of 2013, there will be more than 25 Planet Fitness locations in California alone.
Outstanding Location – A highly desirable in-fill location on Hacienda Blvd. with over 30,000 cpd, a population of over 500,000 within 5 miles, and very little fitness competition in the trade area this location is perfect for Planet Fitness.
Popular Retail Area - Excellent neigh-boring tenants including 99c Store, Fallas Paredes, Ross Dress for Less, Food 4 Less, and Big 5 Sporting Goods.
Number of clubs 661Historical club growth (2009-2011) 65%Number of states with a club 43Memebership Fee $10-$20 per monthMembers (in millions) 4Historical membership growth (2007-2011) 29%Historical sales growth (2007-2010) 24%
Planet Fitness by the Numbers
Retail NNN Investment Offering1717 Hacienda Blvd, La Puente, CA
New Price: $5,125,000 | Cap Rate: 6% | Size: 20,500 SF
The information contained herein was obtained from sources deemed to be reliable. However, SRS Real Estate Partners makes no guarantees, warranties, or representations as to the completeness or accuracy thereof. Published: 05.31.2013
Planet Fitness 15 Year Absolute Net Lease
This information has been secured from sources believed to be reliable, but SRS Real Estate Partners makes no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and shall bear all risk and responsibility for any inaccuracies. SRS Real Estate Partners
Exclusively Presented By 10
Retail Trade AreaArea Overview
The information contained herein was obtained from sources deemed to be reliable. �However, SRS Real Estate Partners makes no guarantees, warranties, or representations as to the completeness or accuracy thereof.
06/2/2012
SRS Real Estate Partners - 610 Newport Center Dr, Suite 400, Newport Beach, CA 92660 - 949.698.1100 - www.srsre.com
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