The distressed real estate market is offering an opportunity for growth for ProGymSystems. The Baltimore based company is launching a new venture to open fitness studios in office properties with a high vacancy rate.
“Fitness and healthy living aren’t only hobbies for the fit crowd or bodybuilders. They are becoming the lifestyle of choice for the mainstream,” says
ProGymSystems Director W. Thomas Sjolander.
The company sees the current real estate environment as an opportunity for expansion, and is marketing their new concept to property managers looking to attract new tenants to highly vacant properties by offering upgraded amenities.
“Many office buildings have high vacancy rates,” Sjolander says. “ Amenities like a free fitness center will help attract new tenants and even retain current tenants.”
ProGymSystems typically designs gyms for hotels, private clients and multi-housing properties. The company has designed gyms at the Saratoga Lofts in Baltimore and TownPlace Suites at Arundel Mills. ProGymSystems has approached several area property developers with the new concept, including Corporate Office Properties Trust, JBG Rosenfeld, Chesapeake Property Management and St. John Properties.
Writer: Amy McNeal
Source: W. Thomas Sjolander, ProGymSystems