Wallace Properties Signs 24 Hour Fitness to 507 Northgate
March 2, 2010
SEATTLE, WA – Wallace Properties, Inc. announces today that it has signed a lease with 24 Hour Fitness to occupy 45,292 square feet at 507 Northgate, a premier mixed-use development in Seattle’s Northgate neighborhood. 24 Hour Fitness will anchor the project and join Sprint and Jimmy John’s Gourmet Sandwiches, who opened last December. Wallace Properties represented the Landlord and New & Neville Real Estate Services partnered with Bluestar Real Estate to represent the Tenant in the lease transaction. 24 Hour Fitness is projected to open late 2010.
“The Landlord is extremely pleased with the addition of 24 Hour Fitness. They will be a great amenity to the residential portion of the project, as well as to the surrounding area.” says Monica Wallace of Wallace Properties. “We are optimistic that the two remaining small shop retail spaces will lease quickly as news spreads of 24 Hour Fitness being the project anchor.”
507 Northgate opened its doors in March 2009 and is the first mixed-use development to include apartment homes to open in Northgate since the adoption of the Growth Management Act in 1990. A joint venture between Wallace Properties and Northwestern Mutual Life Insurance Company, 507 Northgate features 55,000 square feet of retail space and 163 apartment units above an underground parking garage.
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About Wallace Properties, Inc.
Serving Western Washington since 1977, Wallace Properties, Inc. offers a complete spectrum of real estate services, providing commercial leasing and sales, property management, and real estate acquisition, syndication, and development services all under one roof.
About 24 Hour Fitness
Headquartered in San Ramon, Calif., 24 Hour Fitness, an innovative leader in the health and fitness industry, serves more than three million members in more than 400 clubs. Founded in 1983 as a one-club operation, 24 Hour Fitness pioneered the concept of making fitness accessible, affordable and a way of life for everyone.
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SEATTLE, WA – Wallace Properties, Inc. announces today that it has signed a lease with 24 Hour Fitness to occupy 45,292 square feet at 507 Northgate, a premier mixed-use development in Seattle’s Northgate neighborhood. 24 Hour Fitness will anchor the project and join Sprint and Jimmy John’s Gourmet Sandwiches, who opened last December. Wallace Properties represented the Landlord and New & Neville Real Estate Services partnered with Bluestar Real Estate to represent the Tenant in the lease transaction. 24 Hour Fitness is projected to open late 2010.
“The Landlord is extremely pleased with the addition of 24 Hour Fitness. They will be a great amenity to the residential portion of the project, as well as to the surrounding area.” says Monica Wallace of Wallace Properties. “We are optimistic that the two remaining small shop retail spaces will lease quickly as news spreads of 24 Hour Fitness being the project anchor.”
507 Northgate opened its doors in March 2009 and is the first mixed-use development to include apartment homes to open in Northgate since the adoption of the Growth Management Act in 1990. A joint venture between Wallace Properties and Northwestern Mutual Life Insurance Company, 507 Northgate features 55,000 square feet of retail space and 163 apartment units above an underground parking garage.
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About Wallace Properties, Inc.
Serving Western Washington since 1977, Wallace Properties, Inc. offers a complete spectrum of real estate services, providing commercial leasing and sales, property management, and real estate acquisition, syndication, and development services all under one roof.
About 24 Hour Fitness
Headquartered in San Ramon, Calif., 24 Hour Fitness, an innovative leader in the health and fitness industry, serves more than three million members in more than 400 clubs. Founded in 1983 as a one-club operation, 24 Hour Fitness pioneered the concept of making fitness accessible, affordable and a way of life for everyone.
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