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24 Hour Fitness

400 La Terraza Blvd, Escondido, CA 92025
Availability: Close of Escrow:6/2/2014 Size:38,121 SF
Shipping: The 38,121-square foot building, situated on two and a half acres, has more than seven and a half years remaining on the original triple-net lease with annual increases of three percent.
Pricing: $0.00
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Description

Agents

BEN TASHAKORIAN | FIRST VICE PRESIDENT


Senior Director: Institutional Property Advisors (IPA)
License: CA 01333884
Dir: (858) 373-3176
Fax: (858) 373-3110
btashakorian@ipausa.com

Description

Marcus & Millichap is pleased to present the opportunity to acquire the 24 Hour Fitness located at 400 La Terraza Boulevard in Escondido, California. The 38,121-square foot building, situated on two and a half acres, has more than seven and a half years remaining on the original triple-net lease with annual increases of three percent. The property is situated in a highly visible location along Interstate-15, with over 185,000 cars traveling the highway daily. Positioned just a mile south of the major east-west artery, CA-78, the lot is also equipped with an ample parking ratio of over 5 / 1,000 per square foot.

24 Hour Fitness has chosen to develop the subject property into one of just three “Super Sport” locations in San Diego County, which offer a wide range of first-class amenities such as a sauna, steam room, whirlpool, lap pool, kids club, and full basketball court. These amenities combined with dramatic views of the Escondido landscape create a unique fitness experience.

The subject property is located in a major retail corridor, directly across from the 222,000-square foot regional super center, Escondido Promenade, which hosts such national retailers as: TJ Maxx, Target, Dick’s Sporting Goods, Toys R’ Us, GNC, Chipotle Mexican Grill, Jamba Juice, Panera Bread, Subway and many others. There are also high end auto dealers Mercedes Benz, Lexus and Infiniti within a half mile radius.

Features

  • Prime Southern California Corporately Guaranteed Single-Tenant Asset
  • Original 21-Year NNN Lease With More Than Seven and a Half Years Remaining
  • Three Percent Annual Increases Throughout Initial Lease Term
  • 24 Hour Fitness has 400+ Locations in 17 States Nationwide
  • Freeway Visibility and Direct Access to Interstate-15 (185,000 Vehicles Per Day)
  • Unique “Super Sport” Location with First-Class Amenities
  • Population in Excess of 250,000 People Within a Five Mile Radius

Close of Escrow

6/2/2014

Building Size

38,121 SF

Property Type

Retail

Parcel Size

2.56 AC

Year Built

2000

Occupancy

100%

Details

  • 22932118
  • Retail
  • Close of Escrow:6/2/2014 Size:38,121 SF
  • New

Shipping Information

  • Item Requires Shipping
  • The 38,121-square foot building, situated on two and a half acres, has more than seven and a half years remaining on the original triple-net lease with annual increases of three percent.

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