December 31, 2021 – Luke Thomson and Kyle Danielson of Horvath & Tremblay have successfully completed the sale of The Fitness Equation in South Riding, Virginia. Horvath & Tremblay procured the buyer to complete the transaction at a sale price of $4,000,000.
The Fitness Equation is located at 43360 Defender Drive in South Riding, Virginia. This is a new construction Fitness Equation that was completed in 2020. The property consists of a 45,000 square foot stand-alone building on a 2.876-acre parcel of land. The Fitness Equation has 24 years of term remaining on a corporate guaranteed Ground Lease (Absolute NNN) followed by three, 5-Year renewal options. The lease calls for attractive 1% annual rent increases throughout the base term and renewal options. The Fitness Equation is strategically located along Defender Drive with excellent frontage and visibility along Lee Jackson Memorial Highway (US Highway 50) the area’s primary commercial and commuter corridor. Lee Jackson Memorial Highway sees more than 70,000 vehicles per day. The Property is well positioned in South Riding and the surrounding area is home to numerous national retailers and is poised for continued commercial and residential growth. South Riding is a suburb of Washington DC, and offers convenient access to Dulles International Airport, Arlington and Alexandria, Virginia, Washington DC, the Reston/Tysons Corner technology corridor and other major employment centers in Northern Virginia and Washington, D.C..
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.