LA Boxing will be opening a new location in Park Slope, Brooklyn.
Located on the corner of 3rd Street and Fourth Avenue, LA Boxing will take the entire 6,000-square-foot second floor of the three-story commercial property at 340 Fourth Avenue.
The deal comes in light of the fitness franchise’s plans to open nearly 30 gyms in the New York area over the course of a year and a half, Crain’s reported a year ago. At the start of the expansion, LA Fitness operated out of one location in Long Island City, Queens.
The gym’s expansion plans seem to be executing slower than expected as this will only be the fourth location, in addition to the recently opened gym on John Street in the Financial District and another in Manhattan Beach, Brooklyn.
Timothy King, managing partner of CPEX, noted that the retail location received a great deal of the attention and that the landlord was looking for a quality tenant. Another tenant, Blinds to Go, will be taking the ground-floor space.
CPEX’s Ryan Condren, Kristina Triglia and George Danut represented the landlord, a local investor, in the transaction. The lease was set for 10 years.
“Park Slope is on fire,” added Mr. King on the commercial and retail market in the area. “Demand is significantly up in the past few years.”
LA Boxing will be in a short proximity to Whole Foods, its first Brooklyn location slated to open in late 2013 and a rival to the beloved Park Slope Food Coop. Given the large family demographic, the slope has welcomed other tenants like the Mozarts and Einsteins preschool, as The Commercial Observer reported earlier this year.
“The Brooklyn landscape is seeing the most activity since Moses,” Mr. King further commented. “That’s Robert Moses, of course.”