NAI Horizon negotiates $2.723M Planet Fitness lease

NAI Horizon negotiated a long-term lease for a Planet Fitness at 1625 W. Camelback Rd., in Phoenix.

The NAI retail properties team of Senior Vice President Chris Gerow, Senior Vice President Shelby Tworek, Vice President Gabe Ortega and Associate Patrick Anthon represented the tenant, JEF-FIT 17th Ave. & Camelback LLC of Philadelphia in the transaction totaling $2.723 million.

This is the fourth long-term lease for a Planet Fitness in Metro Phoenix for the NAI Horizon retail team in the past eight months. Other municipalities include Queen Creek, Gilbert and Maricopa.

“There were multiple moving parts on this particular deal. It was a very complex transaction involving Planet Fitness, the existing tenant (Blast Fitness) and the current landlord,” Tworek said. “Planet Fitness had a void in this particular trade zone and we were able to create an opportunity that worked for all parties involved.”

Planet Fitness is actively looking for additional sites in Metro Phoenix.

The landlord in the Camelback deal, New York-based Park Lee Star Holdings LLC, was represented by Zell Commercial.

POSTED: . TAGS: , , , ,

About AZRE

Pulling together the multiple facets of the commercial real estate industry in Arizona, AZRE: Arizona Commercial Real Estate Magazine reaches out to the largest local and national commercial real estate audience within the Grand Canyon State and beyond. AZRE covers up-to-date happenings within commercial development, brokerage, construction, investment, finance, architecture, property management, real estate law and more as it relates to Arizona. Additionally, AZRE is an active voice within the commercial industry, partnering with such organizations as NAIOP, ABA, ICSC AZ, AIA AZ and Valley Partnership.