Consolidated Tomoka Land Company has acquired a 24 Hour Fitness-occupied building in Falls Church, Virginia, for $21.25m. The 46,000 sq ft building sits on a 3-acre site. The tenant has approximately 9 years remaining on the current lease which includes rental escalations. The site is zoned for up to four stories and multiple uses, including residential. Consolidated-Tomoka Land Company owns approximately 2.3 million sq ft of income-producing properties across the US, as well as more than 5,300 acres of land in the Daytona Beach area.
