PHOENIX, ARIZONA -- Planet Fitness finalized another big box transaction at 15569 W. Bell Rd., in Surprise, Arizona, in the former Henry’s Market at the southwest corner of Bell Road and Reems Road.
Planet Fitness will occupy the 27,059-square-foot space and be the 22nd store in the Arizona market for the chain. The new location is slated to open in the first quarter of 2018.
Prior to this deal, NAI Horizon has recently negotiated long-term leases totaling more than $15 million for Planet Fitness locations in Tempe, Phoenix, Goodyear, and Peoria.
The NAI Horizon retail properties team of Senior Vice Presidents Chris Gerow, Shelby Tworek, Gabe Ortega, and Associate Patrick Anthon represented the tenant, Planet Fitness, in the Surprise transaction totaling $2.8 million. Darren Pitts, Executive Vice President and Brian Gast, Senior Vice President of Velocity Retail represented the Landlord, in the transaction.
“This transaction has been two years in the making as the property has gone through receivership and multiple owners,” Tworek said. “Planet Fitness has analyzed the demographic profile of Surprise and is excited to expand into that market and capitalize on a good piece of real estate.”
“Planet Fitness is a great addition to this established shopping center and will bring vibrancy and activity in this former vacant big box,” said Pitts. “The Landlord sought out our firm as a solution for this space as we have a reputation for successfully leasing big boxes in our market. Brian and our team provided a solution for both the Landlord and the Tenant in negotiating a transaction that benefited both sides of the table,” he added.