LA Fitness – Towson

Investment Highlights

• Recent Extension – Brand New 15 Year Lease (Early Extension)
• Industry Leading Tenant- #1 Revenue-Generating Health Club Company In The Industry (Non-Franchised)
• Downtown Infill Project – Flagship Location Located in Towson Commons Mixed-Use Development

Marcus & Millichap is pleased to present this rare opportunity to purchase the LA Fitness retail condo located within Towson Commons, an infill mixed-use project in the high growth submarket of Towson (Baltimore MSA) MD. The offering is an approximate 48,000 – square foot state-of-the-art facility opened in 2014 which is part of a flagship mixed-use project including 120,000 square feet of multi-level retail space, an adjoining 230,000 square foot 10-story class A office building and a multi-level parking structure (862 stalls). LA Fitness recently extended their lease early offering the new owner 15 years of firm term which demonstrates the Tenant’s strong commitment to this location.

This 3-story retail destination and 10-story office building at York Road and Pennsylvania Avenue originally opened in 1992 and once housed the AMC movie theater, a Borders Books & Music, a craft gallery and several restaurants, and
included an 862-space parking garage. Purchased by the current owners in 2013; they completely rehabilitated and re-tenanted the project bringing in LA Fitness in as the anchor tenant for the project.

Towson Commons’ redevelopment is one of several development projects in Towson that will alter Towson’s landscape in the coming years. Along with the modernized Towson Commons, Towson Row and Towson Square are two other projects that all-together will completely transform a once largely vacant downtown district into a vibrant bustling community with retail, dining, office, residential and hotel space.