Hanley Brown Group Represents Buyer in $6,125,000 Sale of Single-Tenant Gold’s Gym in San Antonio, TX

IRVINE, CA – Hanley Brown Group Real Estate Advisors, one of the most dominant retail investment groups in the western United States and a market leader in the exclusive representation of buyers and sellers in the sale of retail properties, announced today Kevin T. Fryman of Hanley Brown Group represented the buyer in the sale of a single-tenant NNN investment with Gold’s Gym in San Antonio, Texas. The purchase price was $6,125,000 at a 7.75% cap rate.

Gold’s Gym is located on the west side of San Antonio at the intersection of the McDermott Freeway and DeZavala Road (12481 West Interstate 10) within the Fiesta Trails Shopping Center. Built in 2005, Gold’s Gym occupies a 40,000-square-foot building situated on 3.55 acres. Co-tenants within Fiesta Trails include: H.E.B., Target, Barnes & Noble, Ashley Furniture HomeStore, OfficeMax, Marshalls, Logan's Roadhouse and Joe's Crab Shack.

“This property was an ideal fit for the buyer’s 1031 exchange requirement,” says Kevin Fryman, senior associate at Hanley Brown Group. “They had a high comfort level with fitness tenants and were attracted to the property for several reasons. The lease terms were very favorable which included a corporate guarantee, a 15-year term and 15% increases every five years. Additionally the combination of the excellent location, brand new construction and quality mix of credit tenants located within the Fiesta Trails Shopping Center made Gold’s Gym a perfect choice.”

Fryman added, “We had considered other properties in the western region of the United States, but no other property offered a return better than 7.75% for this type of asset.”

The buyer was a family partnership based in Novato, CA. The seller was B-Bachs, Inc. in Austin, TX, who represented themselves.

Built on a solid foundation of performance, integrity and dedication, Hanley Brown Group Real Estate Advisors is a boutique retail investment advisory firm with a $900 million transaction track record that is comprised of innovative specialists delivering unparalleled service and superior results that consistently exceed client expectations.

Hanley Brown Group’s expertise, commitment and unwavering focus of putting the client’s needs first have continued to set the company apart in the industry. Hanley Brown Group works closely with individual investors, developers, and institutional property owners in every facet of the transaction to insure that the highest value is achieved.

Clients rely on Hanley Brown Group to be the most knowledgeable and trusted source for valuation services, market information and retail property acquisitions and dispositions. For more information, visit the Company’s website at www.hanleybrown.com or call (949) 585-7610.

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