New Mexico Sports & Wellness Portfolio

Investment Highlights

• All three locations feature long term tenancy since 2003 and a recently executed a 5-year lease extension running through January 2030
• Master lease structure in place covering all three locations with +/- 4.5 years of firm term remaining on an absolute triple net lease structure
• Healthy annual rent escalations of 3%
• One (1) 5-year renewal option at the greater of 103% of the immediately preceding rent or fair market rents
• For more than four decades, Wellbridge has successfully managed health clubs across the country and has developed more than 1.5 million square feet of club facilities
• Well established locations with seasoned memberships and positioned as the premier health & wellness club in Albuquerque

The NNN Fitness group, of Marcus & Millichap, in conjunction with Institutional Property Advisors, a division of Marcus & Millichap, is pleased to offer for sale the fee simple interest the New Mexico Sports & Wellness Portfolio, a three building portfolio of health and wellness clubs (the “Portfolio”, “Properties” or “Assets”) located in Albuquerque, New Mexico. The Portfolio consists of +/- 129,600 SF and is subject to an absolute NNN master lease from Starmark Camhood, LLC d/b/a New Mexico Sports & Wellness (the “Tenant”).

All three locations feature historical long-term tenancy, with the Tenant occupying each location since 2003. All three locations are under a master lease with an absolute triple net structure through 2030, with the Tenant recently renewing the properties. The lease includes strong annual rent increases of 3.0% and includes one (1) five (5) year renewal option at the greater of 103% of the immediately preceding rent or Fair Market Rent. The Tenant reports unit level financial metrics but corporate financials are not reported.

This offering presents the opportunity to acquire a portfolio of health and wellness clubs with established locations, managed by a top-tier operator, offering future ownership with a passive ownership structure. Alternatively, there is outstanding security in the value of the underlying real estate providing long-term repurposing given the basis of the acquisition.

Property Addresses:

• 9190 Coors Blvd NW, Albuquerque, NM 87120
• 4100 Prospect Ave NE, Albuquerque, NM 87110
• 4300 Landau St NE, Albuquerque, NM 87111

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