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SLP LA Fitness Building Sold for $13.9 Million

The health club has 12 years remaining on its lease.

The 48,000-square-foot building along Highway 100 that houses St. Louis Park's LA Fitness has been sold for $13.85 million, according to Twin Cities Business Magazine.

LA Fitness, which has occupied the building since 2009, has 12 years remaining on its lease.

The seller, 7 & 41 Crossings LP, had retrofitted the 3555 South Highway 100 property from a Ford dealership into a space that could accommodate the health club. 

Jim Leary, a senior vice president at CBRE, a real estate firm that represented the seller in the deal, told Twin Cities Business that the location is a “trophy quality investment property.”

The buyer is National Retail Properties, an investment trust based in Orlando, Fla., that owns a number of single-tenant, standalone properties such as Best Buy and Gander Mountain stores, the magazine reported

A 17,600-square-foot Goodwill recently opened in the LA Fitness parking lot.

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