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Thursday, Feb 22, 2024

Crunch Fitness Building in Van Nuys Sold for $6.1 Million

The Crunch Fitness Building in Van Nuys has traded hands for $6.1 million, according to SRS Real Estate Partners’ National Net Lease Group. Fortunate Realty has purchased the 20,600-square-foot structure at 6723 Van Nuys Blvd. from seller First Amended Alex Liberman and Mirta Liberman Revocable Trust & Van Nuys # 1 LLC. Brokers Matthew Hardke, Matthew Mousavi and Patrick Luther of SRS represented the seller. Matt Brooks and Tom Chichester of Faris Lee Investments worked on behalf of Fortunate Realty. The complex deal involved an assemblage of leasehold and leased fee interests to deliver a fee simple title to the buyer. The deal closed at 97 percent of the $6.32 asking price. Crunch Fitness and other tenants, including co-anchors Jons International Marketplace and Fallas, will remain in the building. Crunch Fitness just opened at the location in July, when it signed a 15-year lease (with two five-year options to extend) and invested more than $1 million into the buildout and capital improvements.

Michael Aushenker
Michael Aushenker
A graduate of Cornell University, Michael covers commercial real estate for the San Fernando Valley Business Journal. Prior to the Business Journal, Michael covered the community and entertainment beats as a staff writer for various newspapers, including the Jewish Journal of Greater Los Angeles, The Palisadian-Post, The Argonaut and Acorn Newspapers. He has also freelanced for the Santa Barbara Independent, VC Reporter, Malibu Times and Los Feliz Ledger.

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