Horvath & Tremblay brokers $12.3 million sale of LA Fitness in Saugus, MA

Saugus, MA Bob Horvath and Todd Tremblay of Horvath & Tremblay have completed the sale of LA Fitness.  Horvath & Tremblay exclusively represented the seller and secured the buyer to complete the transaction at a sale price of $12.3 million.

LA Fitness is located at 1450 Broadway. The free-standing, single-tenant LA Fitness consists of a 45,000 s/f building on a 4.33-acre parcel. LA Fitness has been at this location since its construction in 2008 and recently exercised their first five-year renewal option, demonstrating their commitment to the site and the market. The absolute NNN lease has over two years of term remaining followed by two, 5-year renewal options and calls for attractive rent increases at the start of each renewal option. LA Fitness is situated along Broadway right at the genesis of MA Rte. 99 off of US Rte. 1, a prime retail destination in the heart of one of the Boston area’s most established commercial corridors. The Property is situated within a major commercial corridor that includes a surrounding cluster of national retailers, restaurants, and service providers including a Walmart Supercenter, Best Buy, Target, Home Depot, and many others. With outstanding visibility and frontage on Broadway and direct access to Rte. 1, one of Massachusetts’ busiest commercial roadways, LA Fitness benefits from high daily traffic volumes and strong consumer draw. LA Fitness is a short drive from I-95 and its interchange with MA Rte. 128 and is within close proximity to densely populated residential neighborhoods throughout Saugus, Melrose, Revere, and Lynn.