LA Fitness will open a new fitness center in Fairwood next year.
The owner of the Fairwood Shopping Center, Terramar Retail Centers of Carlsbad, Calif., has signed a lease with LA Fitness for a 45,000-square-foot space in the shopping center at 140th Avenue Southeast and Petrovitsky Road.
LA Fitness already has a fitness center in Renton, at The Landing.
According to a Terramar press release, the LA Fitness anchor addition marks the first milestone in Terramar’s remodel and repositioning of 50,000 square feet in the 214,494-square-foot center.
“As an anchor tenant at Fairwood, a state-of-the-art LA Fitness will generate a powerful and immediate draw from our high-income trade area in Renton,” said Senior Vice President of Development Alexander M. Liftis in the press release.
“The addition of this premier national health and fitness center to Fairwood supports our commitment to serve Renton consumers with just the right tenant mix,” Liftis said. “Daily visits from LA Fitness clients will also boost cross-shopping for our current tenant mix.”
The company is working with King County to redevelop that portion of the shopping center, as Fairwood is still unincorporated.
However, Fairwood residents will decide in November whether to annex to Renton.
“We are pleased to see investment in the neighborhood,” said Alex Pietsch, administrator of the City of Renton Department of Community and Economic Development, in an interview.
The city has been doing a fiscal analysis of the Fairwood annexation, including tax revenue that would help pay for city services there. About 70 percent of the retail space in Fairwood Shopping Center is leased; the center is the major source of sales tax in Fairwood.
An LA Fitness generates some retail sales, he said, probably more than a similarly sized grocery store. The QFC grocery store closed in the shopping center.
But, it’s not a “significant producer of revenue like IKEA,” Pietsch said.
Bill Horner, senior vice president/chief real estate officer for LA Fitness, said in the press release that the Fairwood location is consistent with LA Fitness’ belief that convenience is a major component in keeping on a fitness program.
“We always try to place our clubs close to the neighborhoods on a normal path of travel. This location certainly meets the criteria.”