Robert Khodadadian – Commercial Observer

Gold’s Gym, which has more than 700 fitness studios worldwide, is expanding in Washington, D.C.

The company has inked a 24,000-square-foot lease at Georgetown Park, a 327,300-square-foot mixed-use development in the District’s popular Georgetown neighborhood.

Georgetown Park is owned by Atlanta-based investment firm Jamestown, which acquired the property in 2014 from Vornado Realty Trust for $272 million. The company has transformed the site from an inward-facing enclosed mall into a collection of restaurants and retail shops with dedicated frontage on both M Street and Wisconsin Avenue.

“Our aim is to create places that are fundamentally local, humble, aspirational and inclusive, and Gold’s Gym aligns with that mission,” Mark Witschorik, Jamestown’s director of asset management for the mid-Atlantic region, said in a prepared statement. “They will provide an open and light-filled space with inclusive programming for a range of skill sets, offered at an accessible price point.”

The new Gold’s Gym will offer the company’s well-known classes, recovery equipment, an infrared sauna, 2,500 square feet of turf and an elevated, modernized locker room. The design will utilize natural wood elements and greenery, according to the company.

“There is a tremendous amount of opportunity to bring health and wellness to the forefront while enhancing the Gold’s Gym experience in the D.C. market,” Matt Clifford, president, CEO and managing partner of Gold’s Gym, said in a prepared statement. 

Gold’s Gym in Georgetown Park is slated to open in November.

Other notable tenants at the property include H&M, J. Crew, T.J. Maxx and Avis/Budget. Georgetown Park will also welcome a new Italian market and restaurant from James Beard Award-winning restaurateur Stephen Starr and Michelin-star chef Nancy Silverton later this year.  

Keith Loria can be reached at Kloria@commercialobserver.com.

Gold’s Gym, which has more than 700 fitness studios worldwide, is expanding in Washington, D.C. The company has inked a 24,000-square-foot lease at Georgetown Park, a 327,300-square-foot mixed-use development in the District’s popular Georgetown neighborhood. Georgetown Park is owned by Atlanta-based investment firm Jamestown, which acquired the property in 2014 from Vornado Realty Trust forRead MoreChannel, Leases, Retail, Georgetown Park, Gold’s Gym., Jamestown, Mark Witschorik, Matt Clifford  Commercial Observer Read More 

Robert Khodadadian has long had a simple philosophy about selling real estate. The way he sees it, there are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller at the right time.

Robert Khodadadian, properties, ground leases, ground lease, off market, investment sales, khodadadian, Commercial Real Estate Sales, Commercial Observer, Retail For Lease, Commercial Observer,

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