Gold’s Gym Signs for 20K SF in Southwest D.C.
By Nick Trombola July 25, 2024 12:52 pm
reprints
Gold’s Gym is muscling in on new space in Southwest Washington, D.C.
The D.C. Metro branch of the storied fitness center has signed on for a 19,817-square-foot lease at Vermeer, a luxury mixed-use complex at 113 Potomac Avenue SW in the District’s Buzzard Point neighborhood, about two blocks from Nationals Park.
The landlord is a joint venture between Toll Brothers Apartment Living and CrossHarbor Capital Partners, and the deal was brokered by Jared Meier and Taylor Hayes of CBRE (CBRE) and Edwin M. Clark III of Newmark (NMRK). The lease is the JV’s first secured retail tenant at Vermeer.
“Buzzard Point and the Capitol Riverfront Business Improvement District offer tremendous opportunity for businesses in D.C. … We expect to make a significant positive impact on the development of this neighborhood.” Matthew Anderson, director of development and construction for Toll Brothers Apartment Living in the mid-Atlantic region, said in a statement.
Slated to open later this year, the 13-story Vermeer will feature 501 multifamily units and 37,000 square feet of commercial space once the big red ribbon is cut. The Gold’s Gym at the property, the brand’s sixth location in the District, will open in early 2025.
Vermeer is Toll Brothers’ second mixed-use apartment complex in D.C., after opening the 14-story, 525-unit Union Place complex in D.C.’s NoMa neighborhood in 2019.
The DMV’s retail market continues to shine as one of the region’s strongest asset classes in the wake of the COVID-19 pandemic, especially when compared to D.C’s downward-spiraling office market, according to a market analysis conducted by CBRE earlier this year. There were 477 retail openings between early 2023 and early 2024 in the region, far outpacing the 274 closings that occurred over the same stretch, per CBRE.
Nick Trombola can be reached at NTrombola@commercialobserver.com.
