Arizona and Florida —SRS Real Estate Partners has arranged the $94 million sale of seven single-tenant EoS Fitness properties in Arizona and Florida. Patrick Nutt and William Wamble of SRS Capital Markets represented the seller, Barclay Group, in the transaction. A publicly traded REIT acquired the properties. Tyler McRae of SRS, along with Echelon Realty Advisors, was responsible for leasing the assets on behalf of EoS Fitness.
The portfolio includes two properties in Mesa, Arizona, comprising 57,803 and 51,716 square feet, as well as properties in Tempe, Scottsdale and Queens Creek, Arizona, which total 63,843, 46,039 and 40,350 square feet, respectively. In Florida, the properties are located in Riverview and Lutz and comprise 40,350 square feet each. Three of the buildings are new-construction gyms, and four are former grocery stores that are currently undergoing redevelopment. EoS Fitness occupies the properties on 15-year, corporate-guaranteed, triple-net leases, with scheduled rental increases in place.