VOL. 126 | NO. 204 | Wednesday, October 19, 2011
Hackmeyer Buys Fitness Center, Leases to New User
By Sarah Baker
Memphis-based Hackmeyer Properties has bought the former Prairie Life Fitness Center at 3690 S. Houston Levee Road in Collierville from Prairie Life Fitness LLC for $2.7 million and is leasing the facility to a new fitness company.
The purchase was financed with a $2.7 million loan through The Metropolitan Bank that matures in October 2018.
Omaha, Neb.-based Prairie Life Fitness Center closed its Collierville location without warning in April 2010. It has one remaining Tennessee center in Franklin. All its other holdings are out of state, including five centers in Nebraska, two in Kansas and one in Iowa.
The sale was contingent on a new lease and all equipment remaining inside the facility. John Trezevant and Tom Marsh with Trezevant Realty Corp. represented Prairie Life in the disposition of the property and facilitated the lease.
Tanis Hackmeyer’s company, Hackmeyer Realty, represented Hackmeyer Properties in acquisition and lease negotiations. She is also a managing partner of Hackmeyer Properties.
The name of the new club will be Omni Health & Fitness, whose parent company, Pro-Fit Management Inc., is based in Evans, Ga., and owns several health clubs around the U.S.
Greg Moseley and Bill Smith, co-owners of Pro-Fit, were represented by Frank Mullins of Evans, Ga.-based Mullins Land Co.
“It’s pretty much ready to move in right now, but they are going to slightly modify it,” Hackmeyer said. “It’s got all the equipment in place. They may or may not use part of the facilities. It’s going to be kind of a trial basis to see how it works on the pool and the basketball court. But they are probably going to add some more equipment to suit the model that they have in other cities.”
The property is a 57,264-square-foot recreational health center built in 2004. It sits on 6.7 acres on the north side of East Winchester Boulevard east of South Houston Levee Road in Ironwood Planned Development.
The Shelby County Assessor of Property, which uses the address 3640 S. Houston Levee Road for the site, appraised it in 2011 at $5 million.
“It’s a huge facility,” Hackmeyer said. “It has tanning beds, massage rooms – it’s got a bunch of different offices, I don’t know if they’re going to use any as meeting rooms. It’s got a huge lounge area, a very nice men’s and women’s locker rooms and saunas, and whirlpools in the men’s and women’s locker rooms as well.”
The goal is to have Omni up and running by December, Hackmeyer said.