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Texas  + Houston-Galveston  + Retail  |  January 6, 2022
LA Fitness
Lisa Brown
By: Lisa Brown

Single-Tenant Net Lease Asset Achieves a Cap Rate of 6.12%

A new construction single-tenant net-lease investment occupied by LA Fitness recently sold in West Houston. Although the purchase price could not be disclosed, the sale achieved a cap rate of 6.12.

RealSource Group’s Austin Blodgett, along with ParaSell Inc., represented the seller, a private developer based in Houston. The buyer was a private investor based in San Mateo County, CA and was represented by Roger Oser with Newmark in San Francisco. 

“This is the third single-tenant LA Fitness property to go to market and sell post-COVID, and it sold at a cap rate of 6.12 percent, which is a new record in the Houston MSA,” said Blodgett.

In late August, Blodgett arranged the sale of a new LA Fitness Signature Club at the Waterview Town Center in Richmond, TX.

Read More News Stories About: Newmark
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Austin Blodgett

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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