Planet Fitness is set to open a new 22,500 s/f gym in Bed Stuy.
The popular, low-cost fitness chain with locations throughout the United States, has net leased a freestanding building at 1245 Fulton Street in Bedford-Stuyvesant.
Planet Fitness, which was represented by Richard Chera of Crown Retail, leased 7,500 s/f on the ground floor, second floor and basement, totaling 22,500 s/fof retail space.
Landlord Infinity Real Estate LLC was represented by Winick Realty Group broker Zach Mishaan, who noted, “Due to the tenant’s aggressive expansion program and strong area presence, ownership considered Planet Fitness to be an attractive retail tenant.”
1245 Fulton Street is located at the heart of a major retail corridor populated with many name-brand national tenants, including Walgreen’s, Rainbow, Payless Shoe Source and Foot Locker.
Ownership is currently renovating the building to fit the extensive necessities of a gym concept, including the addition of a second floor to what is currently a one-story building. They are expected to open when renovations are completed in January 2015, making them the only gym or fitness facility in the area.
“With this lease, Planet Fitness is facilitating a need for the neighborhood,” added Mishaan.