LA Fitness Meadowlands Building Trades for $16.4 Million
18 Dec, 2012, Secaucus, NJ
The free-standing, 45,000-square-foot LA Fitness Meadowlands building in Secaucus traded this week for $16.4 million, announced Cushman & Wakefield, Inc.'s Metropolitan Area Capital Markets Group. One Liberty Properties, Inc. (NYSE: OLP) purchased the asset at 485 Harmon Meadow Blvd. from Hartz Mountain Industries.
Metropolitan Area Capital Markets Group members Andrew Merin, David Bernhaut, Gary Gabriel
and Jared Zimmel orchestrated the sale of this state-of-the-art LA Fitness facility, which is
one of the fastest-growing fitness chains in the nation. Developed in 2009, the Meadowlands
location is one of the chain's exclusive Signature brand clubs.
The LA Fitness Meadowlands building is part of the 200-acre, master-planned Harmon Meadow complex, which is located five minutes from Manhattan and includes 4 million square feet of retail office, hotel, entertainment and convention space. Completed in 2009, the building features best-in-class construction and sits adjacent to a 1,000-space parking garage. It offers excellent visibility and primary access from Route 3, near the NJ Turnpike and Route 17.
"We have a long and productive relationship with numerous Cushman and Wakefield
offices, and this transaction is a great example of them bringing us a deal we couldn't turn
down," says Emanuel Stern, president and COO for Hartz Mountain Industries. "We are
pleased to welcome One Liberty as a property owner in our Harmon Meadow complex, which
continues to delight users in every class of commercial real estate."