WASHINGTON, DC-When J Street Cos. announced that XSport Fitness inked a lease at the Prince Wlliam Shopper Center, it hinted that more were coming. GlobeSt.com caught up with principal Alex Green to find out the details. He told us that the fitness chain is working on several other deals in the DC area and expects to sign a 45,000 square foot lease “within the next couple of months.” Typically, the fitness centers are between 20,00 square feet and 50, 000 square feet, he says.
Green maintains that XSport Fitness is an excellent tenant for landlords because of the investment the company makes in its centers. “These guys put in a tremendous amount of money into their facilities—over $200 per square foot.” Usually fitness centers invest between $75 to $125 per square foot, Green says.
XSport would like to open another six centers in the DC area, Green says, in new locations. Bethesda, Chevy Chase, Reston, the Rosslyn Ballston Corridor and Springfield are all areas of interest, he says.
Fitness centers face an interesting dynamic as they look for space in the DC area. In other markets they have been able to grab vacated big box retail buildings, but that hasn’t been the case here as other retailers moved in to that the empty boxes, Green says. “We would have loved to lease that space but big boxes don’t come up often in DC.”