First Commercial Gym in Ward 7
WASHINGTON, D.C., (September 14, 2017) – Jair Lynch Real Estate Partners (“Jair Lynch”) signed Planet Fitness to 20,000 square foot, 15 year lease at its Shops at Penn Hill neighborhood center. Planet Fitness will become the only retail gym operating in DC’s Ward 7.
Planet Fitness will open summer of 2018 and reinforces Jair Lynch’s commitment to bring new neighborhood retail services to the former Penn Branch Shopping Center. Jair Lynch purchased the 89,000 square foot retail center in 2016 and plans to reposition the center with new tenants and create a new vibrant mixed-use community with the future redevelopment of the rear parking lot. Planet Fitness marks the first new lease in the executing the overall vision for the property by reinvigorating the lower retail portion of the center where the DC government vacated their lease with the Dept. of Motor Vehicles.
The Shops at Penn Hill envisions more new retailers coming to the center and delivering high quality community services to neighborhood. At completion of the existing center, the Shops at Penn Hill will bring more than 48,000 square feet of community serving retail and over 17,000 square feet of office space to Ward 7.
ABOUT JAIR LYNCH REAL ESTATE PARTNERS
Jair Lynch Real Estate Partners specializes in the responsible transformation of walkable urban places. We do this by combining social responsibility with sound economic development in pursuit of creating sustainable, extraordinary neighborhoods that connect to the soul of a place. Founded in 1998, we have developed almost 4.3 million square feet of real estate projects valued at over $1 billion and have over 1.75 million square feet of development in progress valued at more than $750 million. Visit www.jairlynch.com to learn more about the company.
Prospective retail tenants may contact Alex Shiel at Rappaport property management – (571) 382-1224 for more information.
Prospective office tenants may contact Dennis Perkins at Civitas Commercial Real Estate – (202) 817-2800 for more information.
CONTACT: Christopher Woods