Schultz and Lopez arrange 3,200-square-foot lease at 133 Beach 116th Street for first major fitness brand in the neighborhood
Jaime Schultz, Executive Managing Director, and Jeffrey Lopez, Associate Director, of Lee & Associates NYC have negotiated a ground-floor, 3,200-square-foot lease at 133 Beach 116th Street, between Rockaway Beach Boulevard and Ocean Promenade Belle Harbor, for Orangetheory Fitness. The brand boasts a combined cardiovascular and resistance training workout that utilizes their OTbeat technology to measure heart rate and performance data. This outpost will sit at the base of One Sixteen, a luxurious beachside condominium development, making for a very convenient workout option for residents.
“Orangetheory Fitness has exploded in popularity in recent years, not just in New York City but on an international level as well,” explains Ms. Schultz, who represented both the tenant and the owner, The Marcal Group, along with Mr. Lopez. “The opening of this Orangetheory location will be perfectly timed for the neighborhood, as additional residential units are coming online there on a fairly consistent basis. Although this is the first major boutique fitness studio to come to Rockaway Beach, it will likely soon be followed by other brands that are looking for a foothold in the neighborhood.”
The workouts at Orangetheory change every day and the aim of each session is to keep participants in the heart rate zone that’s coded orange (hence the name) for at least 12 minutes in order to maximize calorie burn. Seeing as Orangetheory is a franchise, this particular location will be owned and operated by a Rockaway Beach resident, Matthew Long.
One Sixteen is conveniently located about a block from the A train at the Rockaway Park – Beach 116th Street station. Orangetheory is expected to take occupancy in the spring of 2020. The lease term is 10 years and the asking rent was $45 per square foot.
About Lee & Associates NYC
The New York office of Lee & Associates provides a full array of corporate advisory and commercial real estate services, including office and retail brokerage, sales and investments, and project and property management. The firm has more than 90 real estate professionals in its 845 Third Avenue headquarters office. Additional information is available at www.leeassociatesnyc.com
About Lee & Associates
Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients.For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter and Link our company blog.
