Escondido Building Housing 24 Hour Fitness Sells for $11.5 MillionMonday, June 16, 2014
Birtcher Anderson Properties of Fullerton bought an Escondido retail building housing 24 Hour Fitness Super Sport for $11.5 million, according to CoStar Group and public data.
The 38,121-square-foot property at 400 La Terraza Blvd. was sold by Tycoon Management of Chula Vista.
Joseph Berkson of brokerage company Marcus & Millichap Inc. represented the buyer, recorded as Pinecrest Diamond LLC and LTBE LLC. Marcus & Millichap’s Ben Tashakorian and Sam Hanna represented the seller, recorded as Tycoon Development Corp.
The property was a build-to-suit for 24 Hour Fitness in 2000 and has more than seven years remaining on its 21-year lease, according to Marcus & Millichap.