NX3 Commercial Group Acquires High-Demand LA Fitness in Florida

FORT LAUDERDALE, Fla., October 8, 2026 /CourierPR/ -- The NX3 Commercial Group has facilitated the sale of a single-tenant LA Fitness located at 5501 Lyons Road in Coconut Creek, Florida, for $14.1 million. This acquisition represents a significant transaction in the net lease market, as the 41,000-square-foot property trades at a 6.89% cap rate, or approximately $344 per square foot. The deal marks a strategic move for a private investor who is completing a 1031 exchange, which allows them to defer capital gains tax.

The property, which was constructed in 2004, spans 5.04 acres and features approximately 290 surface parking spaces. Fitness International, LLC, the operator of more than 728 clubs across the United States and Canada, has a 100% net lease on the building, which runs until January 31, 2037, with three five-year renewal options. The lease also includes rent increases every five years, based on the lesser of the Consumer Price Index (CPI) or 12%.

The site, which fronts Lyons Road at the intersection of the Sawgrass Expressway, is in a prime location with a combined daily traffic volume exceeding 120,000 vehicles. It is backed by a Publix-anchored center and is within a mile of Promenade at Coconut Creek and Turtle Crossing, which houses Target, The Home Depot, and Walmart. The average household income within a one-mile radius is over $125,000.

Robert Zahralban, the Head of National Net Lease at NX3 Commercial Group, and Luke Thomson, the President of the brokerage firm, led the transaction. The deal represents a rare opportunity for buyers, as the NX3 Commercial Group identified a durable asset in a high-demand market.

The NX3 Commercial Group specializes in single-tenant and triple net lease retail, medical, fitness, and industrial properties, representing buyers and sellers across the United States, including 1031 exchange acquisitions and dispositions. The firm's expertise in navigating the complexities of these transactions allows them to help clients navigate the 45-day identification period and the 180-day closing window required for 1031 exchanges.

This acquisition fits a pattern the NX3 Commercial Group has observed across its national platform, as owners of appreciated, management-heavy real estate in high-tax states are rolling their proceeds into passive single-tenant assets in Florida. The state's favorable tax environment, coupled with its robust household growth and limited developable land, makes Florida an attractive destination for these investors.

The NX3 Commercial Group advises private investors, family offices, and institutions on single-tenant and triple net lease acquisitions and dispositions nationwide, with particular depth in 1031 exchanges and sourcing replacement property on compressed timelines. The firm's experience and knowledge in this niche market position them to continue facilitating such transactions in the future.