Fort Lauderdale, FL (November 30, 2023) – SRS Real Estate Partners announced today it has completed the $13.6 million sale of a newly developed retail property occupied by EoS Fitness. Situated on 3.88 acres and totaling 42,311 square feet, the property is located at 17634 Harpers Run in Lutz, FL, a submarket of Tampa.
SRS Capital Markets Executive Vice President & Market Leader, Patrick Nutt and Senior Vice President William Wamble who are based in Fort Lauderdale and Tampa, FL represented the seller, Barclay Group a national development company. The California-based buyer was in a 1031 exchange.
“This newly opened property has a 15-year triple-net lease in place, providing the out-of-state investor with minimal landlord responsibilities and the stability of a well-performing fitness chain,” said Nutt. “There is still appetite from investors for acquiring properties in the fitness space, ranging from institutional buyers to private individuals.”
“This transaction marks our team’s eighth EoS Fitness property sale this year for a total of more than $107 million in consideration,” added Wamble. “Five of the sold assets are in Arizona and three are in Florida.”
Situated along State Road 54, the property is located within Cypress Ranch, a 164-acre mixed-use development featuring 598 residential units, and 100,000 sf of office space. When completed it will include 11 freestanding parcels with tenants such as Chick-fil-A, ALDI, and Panda Express, among others. There is also a considerable number of new residences being developed, providing future customers for EoS.
SRS brings an in-depth knowledge of EoS combined with a physical presence in both Florida and Arizona, delivering a best-in-class national net lease experience with local real estate knowledge. Additionally, SRS is actively representing the tenant in its search for new locations, enabling SRS to better understand why each location was selected by the tenant for its growth goals.
Barclay Group has worked with EoS Fitness to identify and acquire the properties for the growing fitness company. Over the past five years, Barclay Group has partnered with EoS Fitness to open more than 25 locations across the country. SRS has also been responsible for partnering on site selection and lease transactions with EoS.
Year-to-date, SRS Capital Markets has completed nearly $2 billion in deal volume comprised of 403 transactions in 43 states. SRS currently has in excess of 660 properties actively on the market with a market value surpassing $3 billion.
About SRS Real Estate Partners
Founded in 1986, SRS Real Estate Partners is building upon its retail foundation to provide extensive commercial real estate solutions to tenants, owners, and investors. Headquartered in Dallas, with more than 25 offices in the U.S., SRS has grown into one of the industry’s most influential and respected leaders. Our commitment to excellence is strengthened by our Guarantee of Value and our success is measured in the achievement of our clients’ objectives, satisfaction, and trust. For more information, please visit srsre.com.
About Barclay Group
Barclay Group is a national real estate development platform offering a fully integrated build-to-suit and reverse-build-to-suit program. The company has been operating for over 40 years and has developed more than 200 projects for its clients.
In addition to its build-to-suit program, Barclay Group is an active developer and owner of neighborhood retail centers and apartment communities throughout the southwest and southeast. The company has offices in Tampa, FL, Phoenix, AZ, and Boise, ID.