Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Round Lake Beach, IL - LA Fitness
540 E. Rollins Road | Round Lake Beach, IL 60073
Price
10,000 SF
± SF Building SizeDescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a net leased, corporate signed, LA Fitness investment property located in Round Lake Beach, IL (Chicago MSA). The tenant, Fitness International, LLC, recently signed a 12-year lease term extension with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 10% rental increase in August 2030, as well as 10% increases at the beginning of each option period, growing NOI and hedging against inflation. Additionally, as part of the extension an additional $1.6M investment will be made into the space. The lease features minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.
Location
The property is located along E Rollins Rd, which averages 28,200 vehicles passing by daily and is a major retail thoroughfare serving the city of Round Lake Beach. The LA Fitness is a major tenant within Rollins Crossing, a 422,000 square foot shopping center that also features national/credit tenants including Regal Cinema, Petco, and Harbor Freight. The asset is adjacent to Mallard Creek Shopping Center, a 225,000 square foot Meijer grocery anchored center. In addition, the site is located just across State Highway 83 from a 136,000 square foot center anchored by Hobby Lobby and Jewel Osco. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, The Home Depot, Ross Dress For Less, Kohl’s, Dollar Tree, CVS Pharmacy, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 146,800 with an average household income of $125,358.
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]
Patrick Luther
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]