DENVER, CO – [May 23, 2025] – Blue West Capital is pleased to announce the successful sale of a single-tenant net-leased Planet Fitness located at 5094 Alexander Dr S, Fargo, ND 58107. The property sold for $6,148,952 at a 6.68% cap rate —the lowest cap rate recorded for a Planet Fitness nationally since 2023, according to CoStar.
Carly Gallagher Kelly, Director at Blue West Capital, represented the seller in the transaction. The buyer, a national real estate investment trust (REIT), acquired the asset on an all-cash basis and was not involved in a 1031 exchange.
The newly constructed, flagship location is operated by one of Planet Fitness’s largest and most successful franchisees, with 119 locations across 10 states. Planet Fitness, one of the fastest-growing fitness brands in the country, boasts approximately 19.7 million members and more than 2,600 locations nationwide.
Within the first week of marketing, we secured an LOI from a qualified, all-cash buyer. This transaction underscores the strong demand for high-quality net-leased fitness assets operated by proven franchisees. We were pleased to facilitate a smooth closing between two well-qualified parties.
Carly Gallagher Kelly, Director
PR Contact
Carly Gallagher Kelly
(720) 828-6290
Carly@BlueWestCapital.com
About Blue West Capital
Blue West Capital is a commercial real estate advisory firm based in Denver, CO, specializing in maximizing property value, streamlining transactions, and enhancing client outcomes through industry expertise and integrated technology.
Our Services:
- Seller Representation: Customized strategies to optimize property sales.
- Buyer Representation: Access to exclusive investment opportunities.
- Tenant & Landlord Representation (Leasing): Expert guidance through the leasing process.
- 1031 Exchange: Real-time advisory and efficient tax-deferred exchanges.
- Sale-Leaseback: Strategic solutions tailored to client goals.
- Transaction Management: Secure and seamless deal execution.
- Debt & Structured Finance: Customized financing through extensive lending relationships.
Blue West Capital’s market knowledge and client-first approach make us a trusted partner in navigating complex commercial real estate transactions. Let's connect!
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