The Fitness Club Franchise Leased 20,105 SF

Lewisville, TX — Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed a lease for 20,105 square feet in Vista Ridge Plaza, located at 500 East Round Grove Road, Lewisville, TX. Matthews™ Associate Oliver Willman, Associate Baylor Worman, Senior Associate Grayson Duyck, and Senior Associate William Carr represented the landlord in the transaction.

 

The space was leased to Planet Fitness, which has 2,400 locations worldwide, making it one of the largest fitness club franchises by number of members and locations. Vista Ridge Planet Fitness plans to be open and operating by January 1, 2024.

 

“We were able to step in and help the landlord replace a dark anchor in Texas Family Fitness that was paying well below market rent,” Willman said. “Planet Fitness will now anchor the center with a 10-year initial term at double the previous tenant’s rent.”

 

The Vista Ridge Plaza is in close proximity to the Music City Mall of Lewisville and has national tenants, including Harbor Freight, McAllister’s, and Smoothie King.

 

“This location will be a part of Excel Fitness Holdings LLC, a franchisee headquartered in Austin that operates over 100 Planet Fitness locations across six markets,” Worman said. “Olympus Partners recently acquired Excel as they continue to expand their footprint throughout the Dallas metroplex.”

 

For more information or to contact a Matthews™ specialized agent, please visit www.matthews.com 

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 600 agents and support staff in 20+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.