July 15, 2020 – Chris King of Horvath & Tremblay has successfully completed the sale of Planet Fitness in Thomasville, North Carolina. Horvath & Tremblay exclusively represented the buyer to complete the transaction at a sale price of $2,250,000.
Planet Fitness is located at 8325 Julian Avenue in Thomasville, NC. The single Tenant Planet Fitness consists of 23,193 square feet on a 2.58-acre parcel of land. Planet Fitness has 9 years of term remaining on a Double-Net (NN) lease with two, 5-Year renewal options. The lease calls for a 5.0% increase in 2023 and at the start of each of the option periods. Planet Fitness is extremely well located adjacent to the intersection of Randolph Street and Julian Avenue, which sees more than 31,100 vehicles per day. The property enjoys outstanding visibility with two points of entry and egress at the center of one of Thomasville’s primary commercial corridors. Additionally, the property is adjacent to a Food Lion anchored center and is less than ½-mile from Interstate 85.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.