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 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.