Hanley Investment Group Real Estate Advisors sells Planet Fitness Property in Fort Wayne

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REJournals

Hanley Investment Group Real Estate Advisors arranged the sale of a single-tenant net lease retail property occupied by Planet Fitness in Fort Wayne, Indiana.

The sale price was $2.4 million. In the last 24 months, Hanley Investment Group has completed 17 transactions totaling $65 million in the state of Indiana.

Hanley Investment Group’s Dylan Mallory represented the seller, a private partnership between McCormack Development and Jackson Investment Group based in Central Indiana. The buyer was a private investor based in Southern California. Matt Jackson of Jackson Investment Group served as the broker of record on the transaction.

The single-tenant Planet Fitness totals 20,001 square feet and is located at 7528 S. Anthony Blvd. in Fort Wayne, near the signalized intersection of U.S. Highway 27 and South Anthony Boulevard. The property, a former Kmart building, was recently redeveloped into a Planet Fitness and large self-storage facility operated by Extra Space Storage.

As of June 30, 2021, Planet Fitness had more than 14.8 million members and 2,170 stores globally.

Earlier this year, Mallory received a CoStar Power Broker Award for completing the sale of two multi-tenant retail properties positioned along Coliseum Boulevard in Fort Wayne for a combined sales price of $11.8 million. In June of this year, Mallory completed the sale of Castle Key Plaza, a 28,407-square-foot mixed-use property anchored by Bonefish Grill and Franciscan Health, near the Keystone Fashion Mall on 82nd Street in Indianapolis.

Additionally, in July, Mallory completed the sale of Prestwick Junction, a 12,500-square-foot multi-tenant retail center located on U.S. Highway 36 in Avon, Indiana. In terms of transaction volume, Central Indiana remains one of the top Midwest markets for Hanley Investment Group.