BROOKLYN PARK, MINN. — Marcus & Millichap has arranged the $10.45 million sale of the LA Fitness net-leased asset located at 6600 96th Lane in Brooklyn Park. The 45,000-square-foot facility is an anchor tenant within the 65-acre retail development, Park Place Promenade. LA Fitness will operate under a 15-year absolute triple-net lease, with rent escalations every 5 years. Additionally, there are three 5-year options to extend the lease with the same scheduled rent escalations. Solomon Poretsky of Marcus & Millichap’s Minneapolis office, in conjunction with Patrick Weibel and Robert Bender of the firm’s Detroit office represented the seller, Solomon Real Estate Group of Eden Prairie, Minn.; Marcus & Millichap also represented the buyer, Cole Capital of Phoenix, in the transaction.
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