The market for specialized gyms is exploding, and the rapid growth is leading their corporate offices to look for additional office space to rent in Manhattan.
The HeraldTribune.com recently reported that several rapidly expanding concept gyms have expanded their corporate offices in New York. For one owner, finding the perfect space took an entire year. SoulCycle, a cycling studio that has grown from one location to 17 in the last seven years, recently located its offices to a former jewelry factory in Lower Manhattan. Its 85 employees take up two floors totaling 20,000 square feet. Their offices include a photo studio, a training area with cycles, and a stretching and workout area for instructors.
SoulCycle competitor Flywheel Sports is expanding its presence in the New York office space market by quadrupling its space on the Upper West side. The company’s owner says they have grown from one studio to 24 in just three-and-a-half years.
Another specialized fitness center, Tough Mudder, recently leased 35,000 square feet in a Brooklyn office building. The company, founded in 2009 in Southern Florida, provides challenging obstacle-course races, is rapidly expanding. The company will consolidate eight smaller offices into the space. Its seven-year lease includes an option to double its space over the next two to three years.
An industry analyst said that people are trading their gym memberships or adding specialized boot camps and cycling studio memberships to their fitness routine.