Gyms aren’t what they used to be. Driven by
the latest trends and consumer demands, the fitness industry is undergoing some
big changes. These new developments within the fitness space are also impacting
commercial real estate as the physical assets need to adapt alongside the
changing tenant needs.
Here are 4 trends in today’s world of fitness
that are changing the way this business interacts with CRE.
The Era
of Boutique Fitness
In recent years, the entire fitness industry
has gotten more luxurious than it’s ever been before. Whether it’s the
ultra-chic athletic wear, the popular ‘athleisure’ trend, or even workout tools
and equipment; there’s been a noteworthy boost in both quality and style.
Contemporary fitness is glamorous. Consumers
not only want to get fit, but they want to look good while doing it. Today’s
fitness-oriented demographics are demanding Instagram-worthy fitness spaces to
snap and share a lifestyle pic.
And with that, the era of boutique fitness has
come - and experts expect it’s here to stay.
Commercial real estate’s fitness center
tenants are looking to lease spaces that can offer their clientele exactly what
they want in terms of style, amenities, and ambiance. The physical spaces that
house these ultra-luxe fitness destinations need to be able to manifest a
company's brand-culture goals into reality.
Fitness
Spaces are Looking for New Locations
In the past, fitness spaces were most commonly
housed in strip malls or out-of-the-way locations. But, that doesn’t quite cut
it anymore.
Instead, boutique fitness brands are looking
to bring their services to prime retail locations. Upscale malls and metro hubs
are the targets of today’s fitness spaces, which is fueling lots of deals for
CRE.
While big brands like SoulCycle are increasing
their presence around the country, they’re grabbing up available retail or
mixed-use assets that can fit their needs. In many cases, these brands are
looking to develop these space’s interiors to accommodate a wider range of
fitness class types. That means big open floor plans, tons of windows letting
in natural lighting, and great bathroom facilities.
Outdoor
Spaces are in Hot Demand
Another trend that’s spearheading the fitness
industry is outdoor add-ons. Many brands are looking to bring their classes out
into nature - especially for modalities like yoga that don’t require much
equipment.
This means that fitness tenants will be on the
hunt for commercial assets that have courtyards, rooftops, and other outdoor
attachments that can be developed into a new studio space. Professionals who
are looking to attract fitness companies to their commercial portfolios should
consider ways to extend the property outdoors.
Fuel Up
with Healthy Foods
Today’s fitness brands are not just about
working out. They put a heavy focus on holistic wellness which undoubtedly
extends into the realm of healthy foods. Many fitness brands are interested in
incorporating small cafes or smoothie and juice bars that serve a menu full of
fresh superfoods to class-attendees.
Commercial spaces that can deliver this in-house dining option will be in hot demand, so consider adding it to your CRE strategies.
Keep your eyes on these 4 trends that are
remodeling commercial real estate’s fitness spaces.
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