CBRE Completes $13.9M Sale of LA Fitness & Shoppes in North Seattle

CBRE facilitated the $13.9 million sale of LA Fitness & Shoppes, a 51,329-square-foot, multi-tenant retail property in an infill location in North Seattle, to a private investor.

CBRE’s Dino A. Christophilis and Daniel Tibeau brokered the transaction on behalf of the seller, Madison Development, who originally developed the property in 2007. Madison Development is a prolific Seattle-based firm specializing in commercial and multi-family real estate development.

Situated on 3.72 acres at 13244 Aurora Ave. N, the property comprises two components: a 45,000-square-foot building leased to LA Fitness and a 6,329-square-foot pad building fully leased to Jersey Mike’s, IRG Physical Therapy, and T-Mobile.

“LA Fitness & Shoppes has high-quality tenancy in an area poised for continued housing and population growth. The submarket has shown resilience with multiple big-box retailers recently moving to the area,” said Dino A. Christophilis of CBRE. “The property is a standout investment opportunity, and we are pleased with the outcome for both the seller and the buyer.”