IREA Brokers LA Fitness in San Fernando Valley for $23.5M

Reported by: San Fernando Valley Business Journal

By Elliot Golan

The 53,000 square-foot LA Fitness in Van Nuys has traded hands for about $23.5 million. FM Enterprises of Sherman Oaks made the buy at 6161 N. Sepulveda Blvd. July 1 from a private owner.

Frank Mushmel, principal at FM Enterprises, said the deal is a long-term investment. “This is an incredible location and there’s a long-term lease with a solid credit tenant,” he said. LA Fitness, which opened the massive outlet last year, has a 20- year-lease in place, Mushmel said.