Northmarq Completes $7.6 Million Sale of Planet Fitness-Anchored Shopping Center in Tallahassee, Florida


Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a 59,160-square-foot retail center anchored by Planet Fitness. The north Florida property is located at 1925 North Monroe Street in Tallahassee, Florida. Northmarq’s Brett Puckett represented the seller, an individual investor based in Tennessee. A private 1031 exchange buyer acquired the property for $7.6 million. 

“This is our team’s sixth Planet Fitness-related transaction in the past year and speaks to the strength of the Planet Fitness name and our timing in the market,” said Puckett, Associate Director in Northmarq’s Cincinnati, Ohio office. “We achieved our win/win objective by exceeding our seller’s pricing expectations and having a buyer walk away satisfied with a fantastic investment property.” 

The property, minutes from Interstate 10 in north central Tallahassee, is situated on 4.93 acres and was built in 1977. In addition to Planet Fitness, the retail center includes two additional tenants and neighboring tenants include Publix, Starbucks, Walgreens and more national retailers. The tenants operate on long-term triple net leases

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About Northmarq:

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: