Property tours are available by appointment ONLY. Please contact Ross Westbrook to schedule at ross@westmorelandcompany.com or 678-996-0270. Investment Highlights: Freestanding ±32,623 SF fitness facility located in Walmart Neighborhood Market center ±100% occupied by Bailey’s Health & Fitness (15 locations throughout FL and GA) ±8 years remaining on lease with ±16.6% base rental rate increase in 2020 and two 5-year options Additional shadow tenants in the shopping center include: McDonald’s, Walgreens, and AutoZone Features easy access and excellent visibility Located on one of the highest trafficked corners in Glynn County Less than ½ mile from the College of Coastal Georgia with ±3,500 students and the New Brunswick High School with ±2,500 students Centrally located half way between Savannah and Jacksonville, close to St. Simon Island, Sea Island and Jekyll Island Investment Overview: Bailey’s Health & Fitness is a ±32,623 SF fitness facility located on a ±3.76 AC parcel at 57 Glynn Plaza in Brunswick, GA. This freestanding Property is located within a retail center anchored by Walmart Neighborhood Market (opened in 2015) and shadow tenants operating in out-parcels include McDonald’s, Walgreens, and AutoZone. This Property presents investors with the opportunity to collect stable cash flow with minimal LL obligations. The Property is 100% occupied by Bailey’s Health & Fitness, a popular local fitness club with 15 additional locations throughout Georgia and Florida. Bailey’s Health & Fitness signed a new 10-year NNN lease in 2015 with an annual base rent of $195,738 and a 16.6% base rental rate increase in 2020. Currently there is ±8 years remaining on the term with two 5-year options to extend. This Bailey’s location offers a wide variety of cardiovascular and resistance training with amenities including a group fitness studio (with suspended hardwood floors) and cycle studio both equipped with FitnessOnDemand, expanded locker room facilities for both men and women with all wood dry heat saunas, personal training services by Sweat PT, two lay down tanning beds and one stand-up booth with facial tanners, very large athletic training area with TRX straps and Battle Ropes, and new weight training area filled with free weights & resistance machines and kid's play area. There has been extensive CapEx including roof replacement, parking lot lighting, mill & overlay, parking re-strip, and new facade. Additionally, the Tenant invested over $500,000 in upgrades to interior in 2016. Brunswick is located in Glynn County, GA and is the second-largest urban area on the Georgia coast after Savannah and contains the Brunswick Old Town Historic District. Brunswick is located on a harbor of the Atlantic Ocean, approximately 40 mi north of Florida and 80 mi south of South Carolina. Located just off I-95, Brunswick is centrally located half way between Savannah and Jacksonville and Is the gateway to Georgia’s Prestigious Saint Simon Island, Sea Island and Jekyll Island communities and resorts. Bailey’s Health & Fitness Brunswick features easy access, excellent visibility, and is located in a prime retail corridor, in-line with Walmart Neighborhood Market (opened early 2015), and behind McDonald’s and Walgreens at the corner of Altama & Community Road. The Property benefits from the drawing power of the neighboring retail anchor sites. Additional nearby retailers in the immediate area include Winn Dixie, Big Lots, Dicks Sporting Goods, Ross, Michael's and PetSmart. The business benefits from its location less than ½ mile from the College of Coastal Georgia with ±3,500 students and the New Brunswick High School with ±2,500 students. The area’s immediate demographics include an estimated 2016 population of ± 45,146 people with an average household income of ±$36,601 within a 5-mile radius of the Property. This opportunity offers investors a well-situated NNN-leased asset in a heavy retail node within Brunswick with stable cash flows.
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