Planet Fitness - Tacoma, WA

Highlights

• Desirable Income Tax-Free State - Located in a desirable income tax-free state, offering favorable tax benefits that can boost after-tax investment returns.
• Established Trade Area and Robust Retail Fundamentals - The asset sits within an established, affluent trade area with limited inventory of leasable retail space. In the immediate 0.5 mile-radius trade area, retail vacancy is a nominal 2.1%.
• High-Traffic Corridor - With 31,844 vehicles per day, N Pearl Street is one of the strongest transit corridors in Tacoma, acting as the primary route to and from the North and West End of Tacoma
• Rent Growth - With the 10% rent increases through each of the option periods, and the next two option periods occurring after three and four years, rent growth occurs at the equivalent of 16.6% and 12.5%, respectively, of a typical five year period.
• Shadow-Anchor and Co-Tenancy Strength - Adjacent national tenants are some of the strongest in their respective chains and contribute to generating high customer traffic volume to the area. Store Rankings (Placer.ai): 1. Safeway: 96th Percentile 2. McDonalds: 75th Percentile 3. Starbucks: 78th Percentile
• Top-Tier Institutional Franchisee - Owned and operated by a franchisee with 87 Planet Fitness locations, the lease is backed by very strong credit and quantifiable operational experience.

Location

Located at 2217 N Pearl St , Tacoma, WA 98406, this property is part of the West End Tacoma neighborhood and Seattle market.