Tenant: Gold’s Gym Premises: 40,000 SF Renewal Options: 3 x 5 Years
Lease Expiration: 5/31/2029 Lease Type: NNN Rental Increases: Lesser of 1.25x CPI or 1% Annually Years 8-12
100% Occupied Single Tenant NNN – New 12 Year Lease
Escalations at Year 7 (2024) and Annually Years 8-12
Strong Historical Occupancy at This Location
Corporate Guarantee from Gold’s Gym International, Inc.
Dense Infill Location – Over 225,533 People Within a 5-Mile Radius
Excellent Visibility and Access Along Heavily Trafficked I-35 with Over 174,000 VPD and Loop 1604 with Over 72,000 VPD
Located in The Crossing Shopping Center at Live Oak – Nearby Tenants Include: Ashley Furniture, Buffalo Wild Wings, Texas Roadhouse and Regal Movie Theatre
Adjacent to Forum Shopping Center – Retailers and Restaurants Include: Home Depot, Kohl’s, PetSmart, Starbucks, Babies-R-Us, Bed Bath and Beyond, Subway, Target, TJ Maxx and Verizon
In Cooperation with Sands Investment Group Austin, LLC – Lic# 9004706
Gold's Gym International, Inc. is an American chain of international co-ed fitness centers (commonly referred to as gyms) originally started by Joe Gold in Venice Beach, California. Each gym features a wide array of exercise equipment, group exercise classes and personal trainers to assist clients. Its headquarters are in Dallas, Texas. The first Gold's Gym was opened by Joe Gold in August 1965 in Venice Beach, California. Dubbed "the Mecca of bodybuilding", it was frequented by Arnold Schwarzenegger and Dave Draper and featured in the 1977 docudrama Pumping Iron, which brought attention not only to the gym itself but also to bodybuilding and physique in general. To this day, Gold's is considered a landmark in bodybuilding culture and has achieved cult status. By 1979, when Ken Sprague had sold Gold's Gym, it was the most famous gym in the world. From 1979 to 1999 (for 20 years) Gold's Gym was owned by Peter Grymkowski (a Mr. World body building champion) and his partners. After two years of ownership, Grymkowski and partners moved from the 5500-square-foot facility in to a 60,000-square-foot building over a six-year period. Grymkowski's brother became the licensing director, which helped bring the Gold's Gym name from one location to over 540 throughout the U.S. and the world. The company was one of the first in the health and fitness industry to franchise, starting in 1980.
Today, Gold's Gym claims to be the largest chain of unisex gyms in the world, with more than 700 locations in 37 U.S. states and Washington, D.C., as well as 20 other countries. Gold's Gym has a membership of approximately three million. Gold's Gym locations are equipped with cardiovascular and strength training equipment and offer group exercise classes such as group cycling, Pilates, Latin dance, yoga, and stretching through the company program of GGX (Gold's Group Exercise). Many gyms also offer basketball courts, swimming pools, and boxing studios.