New Planet Fitness Location Is Set to Spark New Life, and Create New Jobs In Elk Grove Village Town Center
Chicago, IL – August 10, 2018. R&R Global Partners, a rapidly expanding real estate developer and the largest Planet Fitness Franchisee in Chicago, today announced that it has completed its acquisition of over 90,000 square feet within the Elk Grove Town Center from Brixmor Property Group, owner of one of the nation’s largest portfolios of open-air shopping centers.
R&R Global Partners has already started construction on its 18th Chicagoland Planet Fitness location which will be an anchor tenant for the Town Center. Planet Fitness will partially fill the vacant space formerly occupied by the Dominick’s Supermarket chain. R&R also recently redeveloped the Lincolnwood Plaza with Planet Fitness (PLNT) and Walmart’s (WMT) first online grocery pick-up.
“The Elk Grove Town Center marks our fifth acquisition in Chicagoland and represents a tremendous addition to our real estate portfolio across the area,” said Bryan Rishforth, Chief Executive Officer of R&R Global Partners. “We were thrilled to work on this deal with Brixmor Property Group and the Elk Grove Town Village as we become a part of its vibrant community co-anchors and develop the Town Center with new jobs and retail.”
Elk Grove Town Center is currently home to a Classic Cinemas movie theater and the Elk Grove Municipal Campus which includes the Village Hall, a library, a fire station and expansive green space used for the areas Mid-Summer Classic Concert Series and Holiday festivities. The center serves a daytime population of over 141,000+ within a 3-mile radius and is conveniently located ½ mile east of the heavily travelled interstate I-355 and just twenty minutes from Chicago’s O’Hare International Airport. R&R is in discussion with additional anchor tenants, including several national big-box retailers and grocers about joining Planet Fitness in the Town Center.