Fitness studio iLoveKickboxing has signed a 4,500-square-foot lease at 540 Fifth Avenue in the Park Slope section of Brooklyn for its second location in the borough.
Commercial Observer has learned that iLoveKickboxing, which offers a variety of workout classes featuring martial arts, plans to open the new outpost in 2016 on two floors of the property between 14th and 15th Streets.
The kickboxing studio will occupy 3,000 square feet on the ground floor and 1,500 square feet below grade. The asking rent in the 10-year deal was $70 per square foot for the ground floor. Real estate investor Eli Oved is the landlord.
“Park Slope has always been a well-rounded neighborhood with a strong community and great retail amenities,” said CPEX’s Keat Chew, who represented Mr. Oved in the deal with colleagues Ryan Condren and George Danut. “As yoga, indoor cycling, CrossFit and other specialized fitness facilities continue to grow in popularity, we believe the residents will benefit from the energy iLoveKickboxing brings.”
The fitness studio did not have a broker in the deal, according to a CPEX spokesman. The fitness studio has locations around the world and 10 spots in New York City, mostly in Queens and Manhattan. It’s other Brooklyn location is in Boerum Hill at 289 Livingston Street, and the company is looking to continue to expand further in the borough, according to CPEX.