ATLANTA--(Business Wire)--
Inland Atlantic Development Corporation today announced the signing of a 42,000
square-foot, 15-year lease with LA Fitness at Old National Market Place, a
planned 300,000 square-foot power center in College Park, Georgia, located 10
miles southwest of downtown Atlanta.
"We are excited to welcome LA Fitness to Old National Market Place," said John
DiGiovanni, president of Inland Atlantic. "Old National is located in an
up-and-coming area of metropolitan Atlanta, and retailers, specifically
value-based retailers, are excited about the opportunity to break into a highly
underserved area with strong demographics."
LA Fitness International, LLC, operating over 300 sports clubs in the U.S. and
Canada, is scheduled to open its new location in 2010. LA Fitness was
represented in the transaction by The Shopping Center Group, based in Atlanta.
"The demographics of College Park are similar to the demographics surrounding
our other 27 successful Atlanta-area clubs," said Bill Horner, senior vice
president and chief real estate officer for LA Fitness International. "The
location of Old National Market Place, on the busy section of Old National
Highway, just south of Flat Shoals Road, meets one of our main objectives,
placing our clubs for member convenience, right on their normal path of travel."
In addition to Old National Market Place, Inland Atlantic is developing Seminole
Commons, an 81,000 square-foot neighborhood center located in Sanford, Florida,
a suburb of Orlando. HH Gregg, a national electronics retailer, is the center`s
anchor. Inland Atlantic is currently in lease negotiations with soft-goods
retailers and is actively pursuing strong national, regional and local tenants
at each of its projects.
About Inland Atlantic Development Corporation
Inland Atlantic Development Corporation (www.inlandatlantic.com) specializes in
new and redevelopment projects, focusing on neighborhood retail and mixed-use
centers in the Southeast. Inland Atlantic Development Corporation, with offices
in Atlanta and Oak Brook, Ill., is part of The Inland Real Estate Group of
Companies, Inc. (www.inlandgroup.com). Headquartered in Oak Brook, Ill., The
Inland Real Estate Group of Companies, Inc. is one of the nation`s largest
commercial real estate and finance groups, with over 40 years of experience, 112
million square feet under management and managed assets in excess of $25 billion
nationwide.
Lindsey Ignace, Inland Communications, Inc.
(630) 218-2887 or ignace@inlandgroup.com
Copyright Business Wire 2009
