Trammell Crow Co. senior associate Matt Milinovich tells GlobeSt.com that B&S, a California-based partnership, purchased the 1900 N. Scottsdale Rd. property from New York-based Scottwest Associates Inc. for $3.3 million. The firm will build the gym under a lease agreement with LA Fitness International LLC.
Milinovich says negotiations with LA Fitness, which operates several other fitness facilities in the Valley, began more than a year ago after the firm decided it needed a larger building for its members. The fitness facility currently is located at 7529 E. McDowell Rd. The multi-million-dollar gym will be completed by the fall 2004, he says.
Milinovich, along with Trammell Crow associate Mike Kumelski, represented Scottwest Associates in the sale of the property. Walt Brown Jr. with Diversified Partners in Phoenix and Richard Garcia of Garcia Realty, also Phoenix, negotiated for the buyer.
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