San Diego, CA - LA Fitness
16913 Dove Canyon Road | San Diego, CA 92127
38,000± SF Building Size
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, LA Fitness investment property located in the 4S Ranch neighborhood of San Diego, California. The tenant, Fitness International, LLC recently signed a brand new 15-year lease extension with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features rental increases of 10% every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN making it an ideal, management free investment opportunity for an out of state investor.
The property is located at the primary intersection of highly desirable Master Planned Community of 4S Ranch. The community consists of over 4,700 homes, served by business parks, as well as significant office and retail space. The retail component includes 4S Ranch Village Center, 4S Commons Town Center, 4S Health Center and Del Sur Town Center. Public Schools include Stone Ranch Elementary, Monterey Ridge Elementary, Del Sur Elementary, Oak Valley Middle School, Design 39 Campus, Del Norte High School and Marantha Christian School. Directly to the east of 4S Ranch is one of San Diego’s leading innovation and technology employment centers with an array of Fortune 500 companies, including Apple (recently occupied approximately 197,000 sf), Amazon, Hewlett-Packard, Sony, Caterpillar, Northrup Grumman and more. To the west of 4S Ranch are two of the highest income communities in all Southern California, Rancho Santa Fe and Fairbanks Ranch.
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