January 25th, 2023, Georgetown, DC: Gold’s Gym, which has more than 700 fitness studios worldwide, is expanding in Washington, D.C.
The company has inked a 24,000-square-foot lease at Georgetown Park, a 327,300-square-foot mixed-use development in the District’s popular Georgetown neighborhood.
Georgetown Park is owned by Atlanta-based investment firm Jamestown, which acquired the property in 2014 from Vornado Realty Trust for $272 million. The company has transformed the site from an inward-facing enclosed mall into a collection of restaurants and retail shops with dedicated frontage on both M Street and Wisconsin Avenue.
“We look at retail leasing from a neighborhood-wide perspective,” Mark Witschorik, director of asset management for the mid-Atlantic region at Jamestown, told Commercial Observer. “It’s about amenitizing the local community with a range of services and experiences. A new gym from an iconic fitness brand like Gold’s Gym serves that bigger picture with the community.”
The new Gold’s Gym will offer the company’s well-known classes, recovery equipment, an infrared sauna, 2,500 square feet of turf and an elevated, modernized locker room. The design will utilize natural wood elements and greenery, according to the company.
“There is a tremendous amount of opportunity to bring health and wellness to the forefront while enhancing the Gold’s Gym experience in the D.C. market,” Matt Clifford, president, CEO and managing partner of Gold’s Gym, said in a prepared statement.
Other notable tenants at the property include DMV, H&M, J. Crew, T.J. Maxx and Avis/Budget. Georgetown Park will also welcome a new Italian market and restaurant from James Beard Award-winning restaurateur Stephen Starr and Michelin-star chef Nancy Silverton later this year.
“In the context of the existing retail offerings at Georgetown Park, as well as the forthcoming Italian market and restaurant from Stephen Starr and Nancy Silverton, the addition of Gold’s Gym will help serve community needs in a more holistic way, providing the neighborhood with a new convenient and inclusive fitness option,” Witschorik said.
Written BY KEITH LORIA | JANUARY 25, 2023 (Commercial Observer)