A 40,000 SF Mountainside Fitness at 9745 W. Happy Valley Rd. in Peoria, sold for $7,120,000 or $178.00 per SF.
Patrick Dempsey and Jan Fincham, Principals with Lee & Associates, negotiated for both sides of the transaction. The buyer was Store Master Funding II, LLC of Scottsdale while the seller was Barclay/ Pleasant Valley, LLC of Phoenix.
The freestanding facility was built in 2009 and is part of Mountainside Crossing, a retail plaza featuring Chase Bank, O’Reilly Auto Parts, Shell Gasoline, CVS, Panda Express and Taco Bell. It is located at the SEC of Happy Valley Rd. and Lake Pleasant Parkway with proximity to the Loop 303.
Mountainside Fitness was started in 1991 and is the largest locally- owned ﬁtness chain in the Valley with 12 existing clubs. Two more locations are planned for 2016 when membership is expected to hit 65,000 members.