|CLIENT||Fathom Strength & Conditioning, LLC
(Personal Training and Gym Facility)
|LOCATION||San Diego, CA|
|SERVICES||Brokerage & Advisory Services
|PROPERTY SIZE||3,254 SF Retail|
|FINANCIAL BREAKDOWN||Leased at 20% Cost Savings over 60 Months|
Fathom Strength & Conditioning LLC, a California corporation, selected McKinney Advisory Group for assisting them in their real estate needs in the San Diego, CA. Fathom’s initial mandate was to assist in relocating their facility to obtain lower overhead costs.
McKinney Advisory worked with Fathom to gain an understanding of their needs and business strategy to help them find a space that fit both their requirements and long term growth strategy as well as their unique gym personality.
The client’s main priority was finding a space and location to meet their members’ needs. For their business, the location was exceptionally critical as they required specific clear height, street frontage for marketing purposes, visual access to customers and accommodating operating hours. Lastly, the client preferred a longer term lease to stabilize membership.
In addition to the space related challenges, the Client was a start-up business with limited financial history limiting the pool of landlords willing to take on the business risk. Working with the Client, McKinney analyzed their financials and presented the best financial case to the landlord.
McKinney performed extensive research of the retail market, within a 20-mile radius to Fathom’s desired location including off-market opportunities. Once ideal properties were identified and McKinney initiated negotiations simultaneously on behalf of Fathom. Leveraging the competition, McKinney was able to negotiate an attractive lease with low rates resulting in substantial rent savings. McKinney was also able to obtain two and a half months of free rent, which resulted in savings to the client on top of the reduced rent price. Lastly, McKinney was able to secure a rare 60-month lease which benefits the client as well as the Landlord. Fathom is off to a great start with their business!