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1005 West Patrick Street

Crunch Fitness Leases 40,000 SF Retail Space At Westridge Square In Frederick MD
LEASEDRetail

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

CF
Crunch FitnessTenant

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