Retail N Illinois

NKF advises Orangetheory Fitness in 4,000-SF Michigan Avenue lease

NKF advises Orangetheory Fitness in 4,000-SF Michigan Avenue lease,ph1

Orangetheory Fitness has leased 4,000 square feet on the second floor of 155 N. Michigan Avenue in Chicago. Newmark Knight Frank (NKF) managing director, Larry Kling, represented Orangetheory Fitness in its site selection analysis and lease negotiations for its new location on Michigan Avenue. Kling represents Orangetheory Fitness’ real estate interests in Illinois, having represented the fitness franchise in over 40 lease transactions since 2012.

Set to open in January 2020 , the completed build-out will feature an open space plan which includes additional workstations and expanded bathroom and shower facilities to accommodate an anticipated larger membership base. Located on Michigan Avenue in the heart of Chicago, 155 N. Michigan Avenue is within walking distance of Millennium Park, Maggie Daley Park, the Magnificent Mile, the Art Institute of Chicago and Lake Michigan.

“Orangetheory Fitness wanted to expand its Chicago footprint to cater to customers who work and live in and around the Loop, as well as to tourists who have a membership to Orangetheory Fitness in another market,” said Kling. “Michigan Avenue is a place where local residents and visitors from around the world come to experience the city, so it was a perfect fit; however storefronts on Michigan Avenue are in high demand, and therefore very competitive to get a space in this prime location.”

One of the world’s fastest-growing fitness franchises, Orangetheory Fitness offers workouts based on high intensity interval training (HIIT) that blend cardiovascular and strength training. The company has over 1,200 locations worldwide in 22 countries, over 1,000 in the U.S. throughout all 50 states. The 155 N. Michigan Avenue location marks Orangetheory Fitness’ 17th Chicago location and 58th in all of Illinois.