The commercial real estate retail sector has been hit by a pandemic, but with falling coronavirus case rates and increasing adoption of vaccines, landlords are hoping to resume operations in California soon.
JLL announced that EōS Fitness signed a lease for 43,130 place Feet on the Hawaiian Gardens town center in suburban Los Angeles County, where the newest facility is slated to open next month. Show certificates JH real estate partner owns the 128,445 square meter shopping center in 12090-12144 East Carson Street in Hawaiian Gardens – the smallest town in the county near the southeastern border.
“We are seeing renewed interest from retail users in real estate decisions,” said JLL Shauna Mattis said in a statement. “As the COVID pandemic continues, we expect shopping mall leasing to normalize.”
JH Real Estate Partners acquired the property in 2015 for $ 22.2 million, according to property records. It’s on the corner of Carson Street and Norwalk Boulevard, just east of Interstate 605.
Retail centers are in big trouble as residents have been confined to their homes to contain the spread of the coronavirus, and most fitness centers in California have been closed for almost a year. In southern California, which in some cases was hardest hit by the winter flood, gyms are currently still closed to indoor use.
The state prescribes the reopening process for different areas and divides the districts into one of four levels based on the region’s fall rate. Health officials announced last week that some districts with low transmission rates may begin moving to the next level, which could open gyms with 10 percent capacity, including San Mateo, Marin, Yolo, Shasta and Humboldt. Santa Clara, San Francisco, San Luis Obispo, El Dorado, Napa, Lassen, and Modoc counties are also expected to join this stage this week.
EōS Fitness currently has more than 75 open or pending locations in Arizona, Southern California, Nevada, Utah, and Florida.