X Team International Partner Venture Commercial Completes Leases for Two LA Fitness Locations in Texas
By: Amanda Braniecki
Transactions amount to 74,000 square feet
DALLAS, July 10, 2014—X Team International, an international alliance of retail real estate advisors with expertise in more than 45 major markets throughout the U.S., Canada and Europe, announced that partner Venture Commercial Real Estate, a Dallas-based commercial real estate firm, has completed leases for two LA Fitness locations in Austin and McKinney, Texas. Venture Commercial Partner John Zikos made the announcement.
Venture’s Zikos and Jonathan Cooper represented LA Fitness in the leases, working with Walt Brown, Jr. and Tim Dollander of Diversified Partners, master brokers for LA Fitness in southern United States.
“As LA Fitness continues to expand its footprint into North and Central Texas, our focus remains on identifying prime locations that will both meet the club’s needs and generate increased foot traffic,” said Zikos. “The Austin and McKinney locations will do just that for LA Fitness while offering residents easy accessibility to quality fitness clubs.”
In Central Texas, LA Fitness signed a lease for a reverse build-to-suit on a 37,000-square-foot facility that will anchor a new development on the northeast corner of West Slaughter Lane and Manchaca roads in southwest Austin. The developer was self-represented.
LA Fitness also signed a lease in North Texas to build another 37,000-square-foot facility in McKinney, where the club will join anchor tenant Sprouts Farmers Market in the newest phase of the Water Tower Place development, located at the southwest corner of Custer Road and Virginia Parkway. Jean Smith of United Commercial Realty represented the landlord, Malouf Interests.
Construction is expected to begin in the near term on both of the locations.
Founded in 1984, LA Fitness is one of the fastest growing sports club chains in the U.S. and presently has more than 600 locations in 22 states and Canada. For more information, visit www.lafitness.com.
About X Team
X Team is an international alliance of retail real estate specialists with offices located in major cities throughout the U.S., Canada and Europe. X Team partners average more than 20 years of industry experience, with expertise in major markets worldwide, specializing in tenant, property and developer/landlord representation, workout services,property dispositions and retail investments. X Team services include transaction negotiation, portfolio analysis, lease valuations, acquisitions, and asset assessment and valuation. For more information, please visit www.xteam.net.
About Venture Commercial
Venture Commercial is recognized as a leader in retail brokerage services throughout Texas for its dedication to each client’s success. The company’s full-service real estate platform includes landlord and tenant representation, property management, land sales, and income property sales. As the D-FW partner of X Team International, Venture is able to serve its clients on a national scale. For more information visit www.venturedfw.com.