Colliers International has put together a deal for
Good Life Fitness to establish a flagship gym for its 275-location national chain at 137 Yonge.
It will occupy the old Revolution Fitness space on the ground and basement floors of the building, giving them a total of 45,000 square feet.
The deal was signed last week and may ultimately involve shuttering several of the Good Life Fitness locations in the immediate area. The fates of 2 Queen East, 250 Yonge, 100 Yonge and 36 Toronto Street are up in the air.
"It's taken four years to find something," Bristow says, adding that the entire top floor of The Bay on Queen Street had been an earlier option. He estimates the renovation will cost Good Life, who have signed a 20-year lease, somewhere in the range of $3.5-$4-million.
Writer: Bert Archer
Source: Tim Bristow
Correction:
There are 275 Good Life Fitness locations in Canada. Yonge Street was given incorrect information, which has now been corrected in the text. Also, with regard to any of the several locations within less than a kilometre of the new flagship location closing, according to Good Life spokeswoman Krista Maling, "We have no plans to make any changes to any clubs in downtown Toronto as of today." She was unable to make assurances about the immediate future. The original text has been changed to reflect this new information.Do you know of a new building going up, a business expanding or renovating, even a cool new house in the neighbourhood? Please send your development news tips to [email protected].