The property had been owned by its prior entity for more than 30 years and this transaction represents the first of numerous properties being sold under similar circumstances.
The sites are situated across Orange and Seminole counties.
Current and prospective members will now have access to over 60 Crunch Fitness locations across the state of Florida.
This acquisition is the second and largest of three planned land purchases along Micco Road for the Ashton Park mixed-use development, a massive 1,568-acre project valued at $2.5 billion.
The shopping center is located within the bustling Dr. Phillips retail district.
With these acquisitions, El Car Wash now operates 65 locations with more than 300,000 active members and has over 60 additional sites in development across Florida and Michigan.
Colliers’ Alexie Fonseca, David Gabbai and Jeff Johnson worked with the seller to fully lease the property before listing it for sale.
The company, which currently has more than 40 centers operating across the state of Florida, plans to open 10 new locations in Central Florida.
In honor of the New Year, here are the most popular news headlines of 2024 on CRE-sources.
Three retail outparcels were included in the sale, including two single-tenant buildings occupied by Buffalo Wild Wings and Arby’s and a multi-tenant building leased to Lenscrafters and Cava.