Pegasus Investments is pleased to offer a single tenant, freestanding LA Fitness secured by a corporate-backed net lease with 11 years of firm lease term remaining and 10% rent increases every 5 years. Located in Blasdell, New York, a desirable bedroom community of Buffalo within the affluent Hamburg community, the area is known for its upscale lifestyle, regional access to outdoor recreation, and highly acclaimed school district. Within Blasdell, the property is situated on a large 4.7-acre outparcel to the McKinley Mall which is anchored by JC Penney, Sears, Best Buy and Bed & Bath and Beyond. Completed in 2014, the 35,000 SF building was newly constructed as a build to suit for LA Fitness to accommodate its most cutting-edge specifications and lifestyle amenities which include a full-length indoor pool, spa and basketball court. Investors will benefit from a favorable net lease that requires the tenant to self-maintain its parcel, offering a truly passive net leased investment.
Corporate net lease with ± 11 years of term
Landlord favorable lease with 10% rent increases
#1 gym operator in the Buffalo market
Seamless access along busy Milestrip Road with average daily vehicle counts of 25,000 ADT
Broker of Record
License: NY 10301207954