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Blink Fitness by EQUINOX
6710 Pacific Boulevard | Huntington Park, CA 90255

Blink Fitness - Huntington Park
Price: $11,970,000  Tenant: Blink Fitness by EQUINOX
Bldg SF: 30,923 SF Price/SF (Bldg): $387
Land SF: 17,442 SF Price/SF (Land): $686
Year Built: 1930 Current CAP Rate: 6.04%
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685

Blink Fitness - Huntington Park
Price: $11,970,000
Tenant: Blink Fitness by EQUINOX
Bldg SF: 30,923 SF
Land SF: 17,442 SF
Year Built: 1930
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685

Investment Highlights

BRAND NEW 20 YEAR NN CORPORATE GUARANTEED LEASE WITH BLINK FITNESS

 

• Corporate guaranteed NN lease with Blink Fitness, on of the strongest performing subsidiaries of Equinox

• Blink Fitness is one of the strongest growing brands in the fitness industry, with memberships ranging from $15 – $25 per month

• Blink Fitness operates at higher profit margins than their competitors

• 300 plus locations projected by 2020 within the U.S.

• Annual operating revenues north of $100 million with over a 25% increase in annual sales

• Blink Fitness operates at the highest EBITDA margin of all Equinox subsidiaries at 34.8% and the lowest rent margin in the fitness industry at 20% which offers a distinct competitive advantage amongst its competitors

• Equinox is a leader in the fitness industry and revolutionizing the industry, becoming synonymous with a unique experience

 

ICONIC PROPERTY THAT HAS UNDERGONE A FOUR PLUS MILLION DOLLAR RENOVATION

 

• Over $4.5 million has been invested to re-invent the landmark Warner Theater

• One of the most well-known properties along Pacific Boulevard benefiting from old world charm and a memorable feel

• High ceilings and a memorable façade provide a memorable experience and separate this asset from all others along Pacific Boulevard

• Renovation includes new roof, electrical systems, plumbing and a plethora of amenities that create a distinctive environment for gym members

 

STABLE AND SECURE INCOME STREAM WITH RENTAL INCREASE

 

• Twenty-year NN corporate guaranteed lease provides minimal landlord obligations

• 12.5% rental increases every five years

• Rare twenty-year corporate lease in a densely populated LA County sub-market

 

EXCELLENT DENSE URBAN INFILL LOCATION

 

• Centrally located in the LA County sub-market of Huntington Park, CA

• Over 60,000 people within one mile of the subject property and over 1.2 million people within five miles

• Centralized location provides easy access to the 110, 101, 5, 10, 710, 605, and 60 freeways

• Truly a walker’s paradise with a walk score of 93 out of 100

• Pacific Boulevard is a main commercial thoroughfare and the third highest grossing commercial district in LA County