CHICAGO - (June 22, 2016)
Deals with Athletico Physical Therapy, JD Strength Performance reflect rapid growth of fitness segment
Draper and Kramer, a full-service national real estate firm, announces it has brokered a pair of fitness leases totaling 6,750 square feet in Chicago’s Bronzeville neighborhood and Lombard, Ill. Kurt Warnke, real estate manager for Chicago-based Draper and Kramer, represented the landlords in both transactions.
In the first deal, Athletico Physical Therapy leased 3,547 square feet at the Draper and Kramer-owned Lake Meadows Shopping Center, located at 3357 S. Martin Luther King Drive in Chicago’s Bronzeville neighborhood. The 193,032-square-foot center also houses a recently opened LA Fitness and newly renovated Jewel-Osco. With the addition of Athletico, the property is 95 percent leased, with just 8,729 square feet remaining. An additional 10,900 square feet of new construction will be available later this year.
In a separate transaction, JD Strength Performance leased 3,200 square feet at OMNI Plaza, a 40,000-square-foot retail center located at 1300 S. Main St. in Lombard. The center’s existing tenants include Crossfit Alpha Dog and UFC Gym. The lease with JD Strength Performance boosts OMNI Plaza’s occupancy to 96 percent. A single storefront totaling 1,600 square feet is still available.
“There’s an increasing demand for health and wellness companies like Athletico and JD Strength Performance as consumers seek to live healthier, more satisfying lifestyles,” said Warnke. “We’re very pleased to add both brands to our tenant portfolio and round out the offerings at these ideally located properties.”
Warnke added that both centers offered Athletico and JD Strength Performance high visibility, ample parking and a complementary tenant mix.
“Lake Meadows is conveniently located between the busy Hyde Park and Roosevelt retail corridors, so it made perfect sense for Athletico to move there and tap into the same customer base as LA Fitness,” said Warnke. “Similarly, JD Strength Performance will benefit from OMNI Plaza’s location at the epicenter of Roosevelt Road retail corridor, with 53,500 vehicles passing by the property each day.”
About Draper and Kramer, Incorporated
Draper and Kramer, Incorporated is a vertically integrated property and financial services company led by President and Chief Executive Officer, Forrest D. Bailey, and headquartered in Chicago, Illinois. Primary services offered include management of multi-family residential, both rental and condominium, and commercial properties including, office, industrial and retail property types, arranging debt and equity financing for commercial property, residential mortgage banking dba 1st Advantage Mortgage, acquisitions and development. Draper and Kramer provides a single source of real estate-related counsel to a diverse group of investors in real estate across the U.S: corporations, private and institutional owners and users of real estate government agencies, condominium associations and foundations. For more information, visit www.draperandkramer.com
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