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Lee & Associates-LA North/Ventura Transacts 45,000 SF Lease for LA Fitness

02/19/2016

Health club operator to occupy a build-to-suit in Agoura Hills, CA

 

AGOURA HILLS, CA – Feb. 18, 2016 – Lee & Associates-LA North/Ventura has transacted a 45,000 square foot lease that will bring health club operator LA Fitness to a build-to-suit at 29431 Agoura Road in Agoura Hills, CA, according to Lee principals Mike Tingus and Grant Fulkerson, who represented the owner and developer of the property, Selleck Development Group (SDG).

Westlake Village-based SDG will move ahead with the construction of the LA Fitness facility, along with a 4,000 square foot freestanding pad building to be located at the NWC of Agoura Road and Roadside Drive, following the approval of the project by the Agoura Hills City Council late last month.

“This will be a great amenity for the city of Agoura Hills,” said Mike Tingus, chairman/principal of Lee. “LA Fitness will build a state-of-the-art, full service health club offering a pool, racquetball courts, basketball and volleyball courts, free weights, cardio, spinning, and even a kids club.

SDG and the Lee team worked closely with LA Fitness for several years to deliver a project that worked with the vision of Agoura Hills’ city officials, and local residents.

“We needed a small height variance in order to accommodate the basketball and racquetball court, and we are pleased that LA Fitness was amenable to some of the design considerations the city requested,” said Daniel Selleck Jr., newly appointed director of new development for SDG. “We worked hard to address the issues the city and residents raised, and at the end of the day, we know we will deliver a valuable addition for the city’s residents.”

The 4,000-square-foot retail portion of the development can be divided to accommodate units as small as 1,000 square feet. The developers expect interest from retail and restaurant operators for the space.

LA Fitness, which operates over 800 clubs across the U.S. and Canada, signed a 15 year lease for its new location. Additional terms of the deal were not disclosed.

The facility will be constructed on a four-acre parcel adjacent to a planned hotel development.

“We think there will be some good synergy between the hotel and the fitness facility,” said Fulkerson, “and the continued growth of the business community in Agoura Hills really does demand these new amenities.”

02/18/2016 - 05:00

Source

Lee & Associates

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