February 1, 2019 – Robert DiFranco of Horvath & Tremblay has successfully completed the sale of Planet Fitness in East Greenbush, New York. Horvath & Tremblay procured the exchange buyer to close the transaction at a sale price of $3,250,000.
Planet Fitness fully occupies the 24,000-square foot building located at 609 Columbia Turnpike. Planet Fitness operates under a triple net lease with over 15 years of lease term remaining and one, 5-year option period. Also included in the sale is a Bank of America ATM which will operate under a 10-year lease term with two, 5-year option periods. Planet Fitness is positioned with direct street frontage and easy access along Columbia Turnpike which boasts traffic counts in excess of 20,000 vehicles per day. The Property is situated across the street from a Hannaford anchored shopping center with additional tenants including CVS, GNC, AutoZone, Sherwin-Williams and Citizens Bank. Additional retailers drawing consumers to the area include Wendy’s, Berkshire Bank, Starbucks and True Value.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.