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238 Latitude LnClover, SC 29710
Planet Fitness | Clover, SC | 6% Cap
Asset ClassRetail
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Overview

Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of Planet Fitness | Clover, SC (Charlotte MSA). Planet Fitness has recently signed a 15 year lease at the newly constructed premises. The Asset is located within a new retail development off of Charlotte Hwy. The Asset is located in one of the fastest growing markets in all of the Charlotte, NC MSA

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Investment Highlights

HIGH PROFILE BRAND

  • Planet Fitness has over 2,400 locations and is considered one of the fastest growing fitness franchises in the US | More than 17M members

ATTRACTIVE LEASE FUNDAMENTALS

  • Tenant signed a brand new 15 year NNN lease | 10% rental increases every 5 years and during each option period | Minimal Landlord responsibilities

NEW CONSTRUCTION

  • New building is built to suit tenant’s operations | Warranties will be assigned to new owner

AFFLUENT CHARLOTTE SUBMARKET

  • Average Household Income exceeds $110K | 4.0% annual population growth rate | Approximately a 30 minute drive to Charlotte Center City

LOCATED IN CLOVER’S RETAIL HUB

  • Over 450K SF within a 0.5 mile boasting a 0% vacancy rate, and 10K sf of positive absorption in TTM | Nearby Major Retailers include: Publix, Lowes HI, Walmart, and Food Lion

HIGH GROWTH CHARLOTTE MSA

  • Charlotte is ranked as the 6th fastest growing large metro in the nation (population: 2.7M+) | Over $1.4B of capital investment was deployed in the Charlotte MSA in Q3 2023 alone
238 Latitude LnClover, SC 29710
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