Crunch Fitness Leases 40,000 SF Retail Space At Westridge Square In Frederick MD
1005 West Patrick Street
Building Size
40,000 SF
Asset Type
Retail
Closing
Mar 21, 2025
AI
The property asset involved in this transaction is a retail space located at 1005 West Patrick Street in Frederick, MD. Crunch Fitness has signed a lease for a total of 40,000 square feet at Westridge Square, following significant improvements made by the landlord, D.C. MCB Real Estate, who invested over $6 million in revamping the center.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Lease Square Footage: 40,000 SF
- Address: 1005 West Patrick Street, Frederick, MD
- Landlord: D.C. MCB Real Estate
- Tenant: Crunch Fitness
This transaction highlights the collaboration between D.C. MCB Real Estate and Crunch Fitness, emphasizing the strategic decision by the gym to occupy two levels in the newly revamped center. The lease includes extensive amenities such as fitness studios, HydroMassage, and childcare services, catering to the needs of the community.
Players
Frederick Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93