W. P. Carey acquires newly built fitness facilities from developer and commits to follow-on build-to-suit
EoS Fitness
Three transactions bring total investment with national fitness tenant and its preferred developer to $58 million
Tenant Description: Founded in 2014, EoS Fitness is a national fitness center operator with more than 90 locations across the U.S.
Total Investment: $58 million (three transactions)
Transaction Type: Multiple (development/forward takeout (2023 & 2024) and build-to-suit (2025))*
Location: Arizona and Nevada
Facility Type: 5 state-of-the-art fitness facilities
In 2023, W. P. Carey closed the $14 million acquisition of a newly built retail fitness center located in Arizona and net leased to EoS Fitness, a national fitness center operator, for a period of 20 years. The state-of-the-art facility features an open weightlifting floor, perimeter cardio rooms, recovery services, saunas, an indoor turfed training area and a pool. It is well located in a high-traffic retail corridor within a rapidly growing sub-market of Phoenix.
Shortly thereafter, in 2024, W. P. Carey completed a $41 million follow-on investment with EoS to acquire three additional fitness facilities located in Arizona and Nevada. All three facilities are state-of-the-art fitness centers and house the company’s flagship offerings. Both this and the 2023 transaction were structured as development/forward takeouts, where the facilities were acquired from the developer upon completion of construction.
In 2025, W. P. Carey continued its partnership with EoS and its preferred development partner, completing the initial closing for a build-to-suit of a 40,000-square-foot fitness facility in Arizona. The facility is expected to open in 2026.