SRS Real Estate Partners Completes $27.4 Million Sale Of Two Crunch Fitness Properties

Two Crunch Fitness properties have been sold, one located at 3601 Lakeview Parkway in Rowlett, TX, and the other at 4681 Hypoluxo Road in Lake Worth Beach, FL. The total sale price for the properties was $27,400,000, with a combined square footage of 75,000. The Rowlett property sold for $13.75 million, achieving a 7% cap rate, while the Lake Worth property sold for $13.65 million at a 6.9% cap rate. These properties encompass a total of 10.26 acres and are situated in well-established market regions.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $27,400,000
• Sale Price of Rowlett Location: $13,750,000
• Rowlett Cap Rate: 7%
• Sale Price of Lake Worth Location: $13,650,000
• Lake Worth Cap Rate: 6.9%
• Total Acres: 10.26
• Brokers: Matthew Mousavi & Patrick Luther - SRS Real Estate Partners

SRS Real Estate Partners facilitated the transaction, representing both assets, which are secured by long-term corporate leases. The buyer is a publicly traded REIT, benefitting from stable and passive income generated by the properties.