ANYTIME FITNESS COMING TO GRUBB PROPERTIES’ ELIZABETH AVENUE LOCATION
24/7 Fitness Concept Rated 21st Fastest Growing Franchise In U.S.
CHARLOTTE, NC – December 7, 2006 - Grubb Properties, the local real estate developer behind the Elizabeth Avenue revitalization and the emerging mixed-use neighborhood of Morrison in South Park, today announced a lease agreement that will bring the fast-growing Anytime Fitness club concept to Elizabeth Avenue. The 4,484 square foot deal completes the lease-up of Grubb’s retail-and-office property at 1523 Elizabeth Avenue.
Anytime Fitness, based in Minnesota and with more than 400 locations nationwide, has been ranked the 21st fastest growing franchise business in the country. At current growth rates, Anytime Fitness will be the largest fitness chain in the world with over 1500 locations by the end of 2007. American Wellness, Inc., which holds the franchise rights in North Carolina, envisions 40-80 locations throughout the state including up to 10 in the Charlotte metropolitan area.
“This is going to be a great location for us,” Bob Brewer, president of American Wellness, said. “It’s nestled right between Uptown and some of the best neighborhoods in Charlotte, not including plans for over 800 new residences in the emerging Elizabeth Avenue district. And the combination of restaurants and boutique shops in anticipation of Whole Foods is already creating a vibrancy this street hasn’t seen in a long time.”
Anytime Fitness offers its members state-of-the-art fitness equipment, reciprocity at any of its nationwide clubs, personal trainers, massage therapy, tanning, and most uniquely – 24/7 access to any of its clubs using a specially coded membership card. Expert fitness consultants staff each club during normal operating hours.
The club will face Elizabeth Avenue in street-level storefront space between Carpe Diem restaurant and Volare, the upscale Tuscan restaurant that relocated to Elizabeth Avenue from Myers Park this past summer. When it opens during the first quarter of 2007, it will join Elizabeth Creamery and Customshop, a 70-seat seasonal American-themed restaurant, as the newest establishments along the stretch of Elizabeth Avenue between Hawthorne and Independence Avenues.
“We obviously think this is a great concept,” Jonathan Nance, Grubb’s director of commercial leasing, said. “Our plan for Elizabeth Avenue is to create a vibrant, multifaceted streetscape that attracts people for all kinds of reasons – delicious food, great music, unique shops, recreation and entertainment of all sorts. That will also make this a unique destination for people who want to work and live here as well – and we like the way the pieces are coming together.”
The lease was negotiated at 1523 Elizabeth Avenue by Grubb Properties’ Jana Foreman. Anytime Fitness was represented by Mike Mahan of Pinnacle Real Estate Investments, LLC.
For more information about Anytime Fitness or American Wellness, Inc. call Bob Brewer at 919.488.7213 or visit: www.anytimefitness.com.
About Grubb Properties
Grubb Properties was founded in 1963 in Lexington, NC. After an initial focus on building, financing and selling affordable homes to low-income families, the company has grown to become one of North Carolina’s premier real estate firms with integrated expertise in residential, commercial and mixed-use development, acquisition, financing, construction, property management, sales and leasing. Grubb Properties now has over 100 employees and oversees a management and/or leasing portfolio of roughly 2,000 apartment homes and one million square feet of office and retail space. The company is headquartered in Charlotte and maintains offices in Cary and Lexington, North Carolina. For additional information about Grubb Properties visit www.grubbproperties.com.
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Posted: December 07, 2006 - News | More News
