Camden Property Trust said today it had signed a 20-year lease with New York fitness club Equinox to take the entire 40,000-square-foot retail component of the Camden, a 287-unit residential project in development on Vine Street at Selma Avenue. The facility will be Equinox’s 15th in Los Angeles County.
Terms of the lease were not disclosed.
The deal at the $140 million project comes just months after Houston-based Camden Property Trust announced it had brought on local hospitality company SBE and L.A. real estate investment and advisory firm Souferian Group as design and planning consultants.
The 7-story luxury apartment project, a block from the Metro station at Hollywood Boulevard and Vine Street, is one of dozens of developments in the works in that area. The Los Angeles Business Journal reported last month that developers have together committed nearly $4 billion to the design and construction of major projects that promise to bring about 2.2 million square feet of office, 650,000 square feet of retail, 4,550 apartments and 1,050 hotel rooms.
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