At $7 Million Per Acre, 24 Hour Fitness Site in F.C. Sells for $21.25 Million

Photo: News-Press

The 3.1 acre site of the 24 Hour Fitness at 1000 E. Broad St. in the City of Falls Church has sold for $21.25 million, it was announced Thursday.

KLNB Retail Investment Sales, who represented the seller and procured the buyer, Consolidated-Tomoka Land, purchased the site.      

“Amazon really turned up the heat on Northern Virginia commercial real estate with the announcement of HQ2,” said Andy Stape of KLNB in a press release. “Buyers are looking for strategic investments with long-term value.”     

Currently a 46,000 square foot building, for many years until 2012 the site of a Sims Department Store, sits on the 3.087 acre site. The site is currently zoned for four stories and multiple uses including residential.   

According to the press release, KLNB originally procured 24 Hour Fitness as a tenant in 2012. There are nine years remaining on the current term, which includes rent escalations.