Marcus and Millichap is pleased to offer for sale the fee simple interest the New Mexico Sports & Wellness Portfolio, a three building portfolio of health and wellness clubs (the “Portfolio”, “Properties” or “Assets”) located in Albuquerque, New Mexico. The Portfolio consists of +/- 129,600 SF and is subject to an absolute NNN master lease from Starmark Camhood, LLC d/b/a New Mexico Sports & Wellness (the “Tenant”).

All three locations feature historical long-term tenancy, with the Tenant occupying each location since 2003. All three locations are under a master lease with an absolute triple net structure through 2030, with the Tenant recently renewing the properties. The lease includes strong annual rent increases of 3.0% and includes one (1) five (5) year renewal option at the greater of 103% of the immediately preceding rent or Fair Market Rent. The Tenant reports unit level financial metrics but corporate financials are not reported.

This offering presents the opportunity to acquire a portfolio of health and wellness clubs with established locations, managed by a top-tier operator, offering future ownership with a passive ownership structure. Alternatively, there is outstanding security in the value of the underlying real estate providing long-term repurposing given the basis of the acquisition.