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Newly Developed EoS Fitness Trades at Record Low Cap Rate
SRS Real Estate Partners completed the $13.3-million sale of a newly developed EoS Fitness property located at 35914 Winchester Rd. in French Valley within south Riverside County. Managing principals Matthew Mousavi and Patrick Luther and VP Jack Cornell represented the seller, a Southern California-based private developer which has been pursuing a break-up strategy of the newly developed French Valley Marketplace. The buyer was a Southern California-based private investor in a 1031 exchange.
The closing cap rate was 6.3%, reportedly a record low cap rate for the EoS brand this year as well as comparable gym / fitness properties nationwide in 2024 according to CoStar records.
“This new construction property went to market and closed escrow with the new ownership prior to opening its doors,” said Mousavi. “This is a significant accomplishment into today’s challenging market in terms of financing and elevated interest rates.”
- ◦Sale/Acquisition
