The company launched its Phoenix operations by buying out four World's Gyms facilities in Mesa, Gilbert and Scottsdale. Family Fitness Center CEO Shane Franklin says he's seeking acquisitions and leases for the state-wide 30-month roll-out. To that end, Jim Hood and Adam Hood, vice president and associate respectively for Colliers International's Phoenix office have the exclusive duty of locating potential sites.
"It's part of our development plan," explains Franklin, who is based in Reno, NV. "In this market, landlords are willing to give better rents and provide better build-out monies because of the economy." In return, he adds, he has to sign longer-term leases. "They want to be sure they'll make some money when the market swings around," he says.
Franklin tells GlobeSt.com he especially likes retail centers that are undergoing renovation or revitalization because of the additional publicity, though he'll consider new space as well. Nor is he restricting size. Rather, he points out, demographics will determine how large a center is.
"In our models, we can even build a center for a town with 20,000 people," Franklin explains. "In that size town, we'd have a more elite type of club, at around 4,000 square feet to 6,000 square feet."
Jim Hood says he and Adam Hood are looking in space for anchored centers as well. Even with the ability to build in small towns, Hood says the ideal site is a population of 100,000 within a three-mile radius. "We don't have them signed right now, but we're looking at possibilities for another six locations in Phoenix, West Phoenix, Surprise and Goodyear," Hood notes.
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