Newly Built LA Fitness Trades at Linden Shopping Center – Connect CRE

SRS Real Estate Partners completed the $14.29-million sale of a newly built, 41,000-square-foot retail property occupied by LA Fitness. Situated on a 4.94-acre site at 950 W. Edgar Rd. in Linden, NJ, the property is within Legacy Square Shopping Center and sold as part of a break-up strategy.

SRS managing principals Kyle Fant and Britt Raymond and senior managing principals Matthew Mousavi and Patrick Luther represented the seller, Cypress Equities and Stockbridge Capital Group. Josh Kanter and Tony D’Ambrosia of NNN Pro represented the private, Midwest-based 1031 exchange buyer. Chris Marks with Marcus & Millichap Capital Corporation arranged CMBS financing.

“This is a high-profile fitness transaction financed through a CMBS structure, highlighting the strength and appeal of the asset,” said Fant. “This property presents the new ownership with a stable, high-quality asset within a densely populated area that is part of greater New York City market.”