Scottsdale-based commercial real estate developer SimonCRE purchased a 4.69-acre property, consisting of three retail buildings, at the northwest corner of Gilbert Road and Southern Avenue in Mesa, Arizona. The property includes a 36,241-square-foot former gym, a 3,660-square-foot Banner Urgent Care, and a 5,658-square-foot multi-tenant retail building housing Judd’s Orthodontic and Fiiz Drinks. SimonCRE purchased the property for $6,580,000.
SimonCRE plans on investing well over $1 million renovating the 36,241-square-foot big box space for future tenant Aspire Fitness.
In addition to the Mesa location, Aspire Fitness is entering Phoenix with two more showcase stores - one at the northeast corner of Ray Road and Rural Road in Chandler, and another at 10160 N. 67th Avenue in Peoria.
The Denver-based company has locations in seven states and prides itself on being at the head of the curve while always pushing forward and adapting to the latest concepts in the ever-changing fitness industry. Aspire truly believes the industry is just scratching the surface of what it can and will become, and offers bar none the most advanced and diverse health clubs in the marketplace.
Etched throughout each facility, customers will find the words "Aspire for Greatness". "We understand that means something different for every customer," says Nick Cohn, Aspire’s Director of Development. "That's why we build a facility for literally everyone."
Aspire offers basketball courts, a pool, functional areas, and turf tracks for athletes, while also offering a cardio theater, vast machine circuits for novices, a women’s-only strength area, and an array of classes. Aspire wants to help everyone in the community fit in and hopes to help those with a busy schedule still attain their fitness goals, which is why their facilities are open 24/7 and offer childcare.
Aspire has a customer friendly membership with dues starting at just $10/month. It offers month-to-month options and partners with local businesses to offer large corporate wellness programs.
The redevelopment of the new Mesa location is scheduled to be completed by early 2018.
“This has been an amazing opportunity to work with Aspire Fitness on this project and we’ve been able to build a strong partnership with a great company,” says Joshua Simon, Founder and CEO of SimonCRE. “And I think this also shows that big box retail isn’t dead, despite all of the rumblings. There are users that see these vacancies as opportunities.”
The property is located at a busy retail intersection in Mesa and just across the street from Santa Fe Square, which includes Target, Joann Fabrics, Bealls Outlet, 99 Cents Only, and more.
Zach Pace of Phoenix Commercial Advisors represented the seller in the transaction, and Jared Lively of Rein & Grossoehme represented SimonCRE.