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Home » Fitness » Life Time Fitness may sell new building – Montgomery Newspapers

FORT WASHINGTON >> Life Time Athletic, the recently opened high-end fitness center in the Fort Washington Office Park, has put the building up for sale, but will continue to own and operate the facility, according to a company spokeswoman.

Natalie Bushaw, PR director for Minnesota-based Life Time Fitness, said in an email June 14 that a Philadelphia Business Journal story published online that morning titled Life Time Fitness puts Fort Washington club up for sale was somewhat misleading.

As part of our normal course of business, we are always exploring financing options that are to our advantage, Bushaw said. This includes working with REITs on sale-leasebacks of some of our buildings as a way to be asset light and more capital efficient. It is a common financing practice that we and many others utilize.

The practice has been part of the companys strategy for many years, she said.

Rest assured, Life Time Athletic Fort Washington is and will remain Life Time Athletic Fort Washington, Bushaw said. The response to the club has been simply fantastic.

Life Time Fitness also opened a new facility in King of Prussia shortly after the official May 23 opening in Fort Washington and is in the process of renovating the former Macys in Suburban Square in Ardmore, where it will open a fitness center in 2018.

Bushaw left open the possibility of selling the other facilities to real estate investors, while continuing on as the operator.

We are looking at our options for the other destinations as well, but as with Fort Washington, we will still own and operate should a change occur, she said.

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Life Time Fitness may sell new building - Montgomery Newspapers

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Home » Fitness » Life Time Fitness may sell new building – Montgomery Newspapers