WEDNESDAY, NOVEMBER 26, 2008

Lee & Associates negotiates lease with Gold's Gym

by Midwest Real Estate News Reports
Madison

Gold's Gym will be opening its first gym in Madison, Wis. in early summer of 2009.

Steve Doran of Lee & Associates' Madison office has negotiated the $7 million lease for a 45,000-square-foot gym that will be part of The Shops at Orchard Pointe, a 110-acre development in the Madison suburb of Fitchburg. EZ Nesbitt LLC represented Orchard Pointe.

Gold's Gym health club is the largest co-ed gym in the world, with more than 600 facilities throughout the U.S. and abroad and a membership of more than three million worldwide. According to Gold's expansion strategy, the company wants to add 200 franchised locations by 2010, with Dane County possibly slated for more gym locations.

Lee & Associates is also brokering the development of the land adjacent to the new Super Target at Orchard Pointe. Including Gold's Gym, more than 70,000 square feet of leases have been signed, with an estimated additional 100,000 square feet to yet be built.

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