NAI Horizon represented the landlord and the tenant in negotiating a long-term lease for Planet Fitness at 2456 E. Baseline Rd., in Phoenix.
The NAI retail properties team of Senior Vice Presidents Chris Gerow, Shelby Tworek and Gabe Ortega, and Associate Patrick Anthon represented both sides in the $5.255 million transaction for the retail property.
The landlord is Vahik Sahaklan & Sons, LLC, of Fishers, Indiana. The tenant is PF South Mountain, LLC, of Sedona, Arizona.
“This location fills the void in the South Mountain retail corridor for affordable fitness,” Gerow said. “NAI Horizon continues to bring Planet Fitness locations to underserved areas of the Valley.”
The new Phoenix Planet Fitness location will take up 20,350 square feet at 24th Street and Baseline Road.