The subject property is a 33,000-square foot single tenant building leased to TRU FIT ATHLETIC CLUBS in McAllen, Texas. The personally guaranteed, triple-net lease has eight years remaining on the primary term with four, five-year options for renewal. The lease has rent escalations scheduled every five years, including during the option periods. Constructed in 2015, the building is situated on 2.06 acres.
The subject property is located in a dense retail trade area off of Interstate 2 (US Expressway 83) near South Ware Road, with traffic counts exceeding 100,000-vehicles per day. Tru Fit is in line with a multi-tenant shopping center with local tenants. Numerous national and regional tenants are in the area, including Starbucks, Academy Sports & Outdoors, Tilted Kilt Pub, Cracker Barrel, Homewood Suites, SpringHill Suites, Best Buy, McAlister’s Deli, Buffalo Wild Wings, Babies ‘R Us, DSW, Chuck E Cheese’s, Cavender’s Boot City, Cheddar’s Scratch Kitchen, Saltgrass Steak House, Gold’s Gym, Cinemark Tinseltown, Kohl’s, Walmart Supercenter, Target, Office Depot, TJ Maxx, Five Below, H-E-B, and many others. Densely populated, the surrounding area has over 185,000 residents within a five-mile radius of the property.
- 33,000-Square Foot Single-Tenant Fitness Center | In Line with a Multi-Tenant Retail Strip
- Triple-Net Lease | No Landlord Responsibilities
- Lease Has Dual Personal Guarantees
- Eight Years Remaining on the Primary Term | Tenant Has Four, Five- Year Options for Renewal
- Rent Escalations Scheduled Every Five Years
- Located in the Region’s Most Dense Retail Trade Area on Expressway 83 | High Traffic Counts of Over 100,000 Vehicles Per Day
- Densely Populated Area with Over 185,000 Residents Within Five Miles
- Located in the McAllen-Edinburg-Mission MSA | Retail Hub of the Rio Grande Valley