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Listing Details


Address: 3550, South Clark Street, Arlington, Virginia, 22202

Price: $23,197,000

Cap Rate: 6.00%

Tenancy: Single Tenant

Status: Available

Listing Team


Austin Blodgett, Senior Vice President

949.431.2735

ab@realsource.com


Jonathan Schiffer, Senior Associate, CCIM

9494686144

js@realsource.com

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Tenancy: Club Studio
Building Size: 45966
Renewal Options: Three, 5-Year Options
Lease Expiration: 15 years
Rental Increases: 10% Increases every 5-Years

• Single-Tenant Club Studio
∘ Corporate Lease with Fitness International, LLC [LA Fitness & Club Studio Parent Co.]
∘ Rare, Condominium Offering with minimal landlord responsibilities
∘ 15-year primary term, plus three (3), 5-year options
∘ 10% rent increases every 5 years, including options
• About Club Studio
∘ Fitness International’s Highest-End health club offering
∘ $134 – $249 monthly memberships
∘ 18 Club Studio locations Open, 21 Coming Soon, & many more in the development pipeline
∘ Studio Row: Club Studio’s signature boutique classes all centralized under one roof –
» Pilates, HIIT, Cycling, Boxing & Hot Yoga
• About Fitness International, LLC
∘ Parent Company to Club Studio and LA Fitness
∘ (+) 660 open and operating full-service health clubs across North America, and expanding
∘ #1 largest health club operator in North America by revenue
∘ $2.2B Estimated Annual Revenue
∘ Founded in 1984, with over 40 Years of operational experience
∘ Strategic growth initiative focused