Activity Underscores Continued Momentum Among Fitness Concepts
Commercial real estate services firm Levin Management Corporation (LMC) has secured two leases with fitness brand Planet Fitness at shopping centers in Watchung and Middlesex. The New Hampshire-based franchise will join the tenant mix at Blue Star Shopping Center and Middlesex Corner, respectively; LMC serves as leasing and managing agent for both properties.
Planet Fitness committed to 21,850 square feet at Blue Star Shopping Center. The 420,000-square-foot retail destination on Route 22 is in the midst of a major, LMC- orchestrated redevelopment, with additional availabilities from 1,200 to 50,000 square feet. Senior Leasing Representative E.J. Moawad represented the landlord in the Planet Fitness lease negotiation, while Jack Chera of RIPCO served as the tenant broker.
At Middlesex Corner, Planet Fitness will fill half of the freestanding building formerly occupied by ACME supermarket at the Route 28/Bound Brook Road property. LMC Leasing Representative Ed Vasconcellos III negotiated the 15,500-square-foot transaction on behalf of property ownership. Raymond Villafana of Franchise Realty represented Planet Fitness. LMC currently is marketing the balance of the former supermarket space.
Both new locations will be franchisee-owned by the same experienced operator behind dozens of Planet Fitness gyms located in New Jersey and other markets. Planet Fitness is one of the largest and fastest-growing operators of fitness centers in the world by number of members and locations.
According to Sidney Singer, LMC vice president of leasing, fitness concepts are active players in today’s retail landscape and significant traffic drivers for properties like Blue Star Shopping Center and Middlesex Corner. “The last several years have seen an influx of boutique and affordable fitness concept leasing at LMC properties and nationwide,” he said. “Chains like Planet Fitness – those that provide an affordable, high-quality fitness experience in a welcoming, non-intimidating environment – have proven particularly successful at engaging consumers.”
Fitness tenants also are healthy for retail centers. These sought-after staples bring people back to a property on a frequent basis, which benefits a shopping center’s entire co-tenancy. Moreover, the demographic profile of fitness consumers has become increasingly diverse; boutique and affordable concepts attract people of all ages looking for a community-centered fitness experience.
With more than 1,100 tenants throughout its leasing and management portfolio, LMC maintains a successful track record of arranging leases with prominent national and regional chains, in addition to regional and local retailers. This includes six Planet Fitness locations with these latest additions.
PHOTO CAPTION: The LMC portfolio now houses six regional Planet Fitness locations (pictured is Mayfair Shopping Center in Commack, N.Y.)
