Gyms Are Expanding and Many are Eyeing Mall Vacancies

Posted on September 28, 2018

The fitness club sector is flexing its muscles.

Fitness and health clubs have grown to be a more than a $30-billion-a-year industry, according to research site Statista, with more than 36,000 clubs across the U.S. boasting more than 60 million members.

Top players in the health club industry reported steady growth in 2017 and many are expanding through new development or acquisitions. Life Time, LA Fitness, Planet Fitness, 24 Hour Fitness, and Equinox Holdings (with its brands Equinox, SoulCycle, Blink Fitness and Pure Yoga) all had growth years, according to the 2018 Club Industry Top 100 Clubs list.

The current environment appears to offer a perfect storm for the fitness center sector as consumers become more health-conscious and the economy continues to improve. Fitness concepts are also more internet-resistant than traditional retailers—you can’t work out online, though it’s now possible to access online fitness classes from home—and there are plenty of vacant big boxes out there for fitness concepts looking to expand.

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