Fitness Company TRX Moves HQ to Delray Beach
By Julia Echikson March 13, 2023 2:41 pm
reprints
Here comes another San Francisco transplant: TRX, the brand behind the suspended exercise cord, has relocated its headquarters to Delray Beach, Fla., the company announced.
TRX inked a 12,000-square-foot lease at 1110 S Federal Highway, taking over the space previously occupied by an Office Depot store. TRX’s facility will be split into corporate offices, a gym, and a filming studio for on-demand exercise classes. The company expects to hire approximately 40 new employees and trainers.
“Florida is well known for its vibrant nightlife, beautiful beaches and incredible weather, but it also possesses a booming fitness community that continues to grow and thrive, which was a major factor in the decision to relocate the business to Delray Beach,” CEO and partner Jack Daly said in a statement.
The relocation comes eight months after TRX’s founder Randy Hetrick bought back the company for $8.4 million in a bankruptcy auction with the backing of private equity investment firm JFXD Capital, Club Fitness reported. Hetrick had created the suspended training straps in 2004 after serving as a Navy SEAL and earning an MBA at Stanford University.
Coastal Commercial Group’s Ingrid Kennemer represented TRX in the Delray Beach lease. Drew Schaul, Paul Grossman and Alex Cesar of CBRE represented the landlord, ABC Properties.
The New York-based real estate investor bought the 18,274-square-foot property in 2015 for $5.7 million, according to property records. The two-story building’s other tenants include retail branches of Wells Fargo and City National Bank.
It’s unclear when TRX will move into its new base. The CBRE brokers declined to comment, and a representative for TXR did not immediately respond to a request for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
