Mid-America Real Estate Corporation’s Investment Sales Group recently brokered the sale of LA Fitness in the affluent Chicago suburb of Westmont at the high traffic intersection of 63rd St and Cass Ave. The 47,000-square-foot new gym provides a long-term and accretive investment with a brand new 15-year lease term with rent escalations every five years.
Since 2013, LA Fitness has claimed the top spot as the largest non-franchised fitness club operator in the U.S. with more than 700 locations. LA Fitness was sold to a 1031 Trade Buyer.
Mid-America Real Estate Corporation Principal Joe Girardi and Vice President Matt McParland were the exclusive brokers in the transaction on behalf of Kensington Development and IM Properties Plc.