Retail Real Estate Trend Predicted Earlier This Year Is Materializing Fast
Blink Fitness recently celebrated the grand opening of its newest New Jersey location at our Levin-managed Clifton Plaza in Clifton. The affordable fitness chain occupies 15,000 square feet of newly constructed retail space at the 80,000-square-foot shopping center.
Fitness Centers Boost Health of Members and Retail Real Estate Companies
Early this year, the business media – including Forbes, industry bloggers and even the ICSC – predicted that fitness venues in shopping centers would be among the top retail real estate trends for 2014. They were on the money, especially with Blink. The off-price brand is on the move across our tri-state area, offering health-conscious members a low-cost workout.
Managers of retail real estate benefit too, when tenants like Blink move in. Fitness centers deliver the sought-after “experience” component that gives shopping venues an edge over online merchants. And fitness is one of the few businesses that can be relied on to draw steady traffic, even in an increasingly online-oriented world. Traffic from gym goers is decidedly steady, with 44 percent of members going to work out at least 100 times per year. Fitness centers are open to members every day of the week, with 4 to 7 p.m. as prime time, delivering potential customers to adjacent tenants, especially those offering services or merchandise related to health, fitness and lifestyle.
Fitness centers like Blink Fitness appeal to shopping center management for an additional reason and an important one. Their model does not require the expensive build-outs that their high-end cousins need in order to accommodate pools, saunas, steam rooms and other spa-style amenities.
This retail real estate trend toward low-cost fitness centers in convenient locations, which began during the recent economic slowdown, shows no signs of stopping. Health club memberships stand at more than 41 million and the demographics are expanding beyond the traditional 18-34 age group to include the fast-growing 50-plus population, who have embraced exercise as the key to weight management and longevity. Blink Fitness, which is in an aggressive expansion mode, typifies this trend.
Fast-growing Fitness Chain Joins a Stellar Tenant Line-up at Clifton Plaza
With more than 36 locations now open across the tri-state area and memberships starting as low as $15 per month, Blink Fitness is on target to achieve its corporate goal of creating healthier communities by giving virtually everyone the opportunity to incorporate fitness into their daily routine. Blink gyms are clean and modern with top-of-the-line cardiovascular and strength-training machines, easy-to-use, self-guided workout menus and a friendly, supportive staff.
The Blink Fitness brand is a perfect fit with other tenants at Clifton Plaza. Co-anchoring the shopping center is a 24,000-square-foot Big Lots and a 14,000-square-foot Dollar Tree. National and regional tenants include Work ‘N Gear, GameStop, Radio Shack, Angel Tip Nails & Spa, Bruno’s Pizza, Sally Beauty Supply, Valley National Bank, and a recently opened Dunkin’ Donuts.
For more on the growth of fitness centers, check out these recent articles in Sourcing Journal and National Retail Tenants Association (NRTA) online.
