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Life Time Athletic Club in Beachwood Sold for $26 Million

  //health-fitness.news-articles.net/content/2025/ .. letic-club-in-beachwood-sold-for-26-million.html
  Published in Health and Fitness on Monday, December 29th 2025 at 12:15 GMT by Cleveland Jewish News

A Fitness Empire Shifts: Life Time’s Beachwood Location Sold for $26 Million After Years as Community Hub

The landscape of fitness and community engagement in Beachwood, Ohio, has undergone a significant change with the recent sale of the Life Time Athletic club for $26 million. The deal, finalized in late October 2023, marks an end to Life Time’s direct ownership of the sprawling facility that has served as a cornerstone of the area's health and wellness scene for over two decades. While Life Time will continue to operate the Beachwood location under a lease agreement, the sale raises questions about future direction and underscores broader trends in the fitness industry.

The buyer is Seritage Growth Properties (NYSE: SRG), a real estate investment trust (REIT) specializing in redeveloping former Sears department store locations. This move might seem unconventional at first glance, but it aligns with Seritage's strategy of transforming underutilized retail spaces into mixed-use properties that attract diverse tenants and generate consistent revenue streams. As reported by the Cleveland Jewish News, this acquisition represents one of Seritage’s largest single asset acquisitions in recent years, highlighting the perceived value of the Beachwood location.

Life Time opened its Beachwood club in 2003, quickly establishing itself as more than just a gym. It became a comprehensive athletic resort offering everything from state-of-the-art fitness equipment and swimming pools to tennis courts, basketball courts, yoga studios, cafes, and childcare services. The facility cultivated a strong sense of community, attracting families and individuals seeking a holistic approach to wellness. Life Time's model, as described in their corporate overview (accessible at [ https://www.lifetimefitness.com/about-us ]), focuses on providing an "immersive experience" that goes beyond traditional gym offerings – a key driver of its popularity and the appeal to Seritage.

The decision by Life Time to sell was attributed to a strategic shift within the company. According to sources cited in the Cleveland Jewish News, Life Time is focusing on expanding its network through new club development and acquisitions in other markets rather than maintaining ownership of existing properties. This strategy allows them to streamline operations and concentrate resources on growth opportunities with higher potential returns. While the sale doesn't signal any immediate changes for members – they will continue to access the same facilities and services under the lease agreement – it does introduce a new landlord into the equation, potentially impacting future decisions regarding facility upgrades or expansions.

Seritage’s involvement is particularly interesting given their focus on repurposing former Sears stores. While the Beachwood Life Time isn't directly connected to a Sears location, Seritage likely sees value in the established infrastructure and high-traffic area. Their plans for the property beyond the lease agreement remain somewhat unclear, but the possibility of incorporating additional retail or residential components in the future is not out of the question. This aligns with Seritage’s broader redevelopment strategy as outlined on their investor relations page ([ https://www.seritage.com/investors/ ]), which aims to create vibrant, mixed-use destinations.

The sale also occurs within a larger context of evolving trends in the fitness industry. The COVID-19 pandemic significantly impacted gyms and fitness centers nationwide, accelerating the adoption of virtual workout programs and prompting consumers to re-evaluate their health and wellness priorities. While Life Time has adapted by offering digital options and enhanced safety protocols, the pandemic underscored the importance of flexibility and innovation within the sector. The Cleveland Jewish News article notes that while Life Time remains a financially stable company, this sale highlights a need for fitness businesses to constantly evaluate their business models.

Furthermore, the Beachwood location’s proximity to affluent communities and its reputation as a premium athletic resort made it a highly desirable asset. The area boasts a strong demographic profile with residents who prioritize health and wellness, making it an attractive investment for Seritage. The sale price of $26 million reflects this inherent value and demonstrates the continued demand for high-quality fitness facilities in the region.

Looking ahead, members of the Beachwood Life Time can expect business as usual for the foreseeable future. However, the change in ownership introduces a new dynamic to the facility’s long-term prospects. Seritage's plans for the property beyond the lease agreement will be closely watched by community members and industry observers alike. The sale represents a significant chapter in the history of this Beachwood institution and signals an ongoing evolution within both the fitness industry and the broader real estate landscape. The Cleveland Jewish News article, along with information from Seritage's website, paints a picture of a calculated move – Life Time focusing on expansion while Seritage seeks to revitalize retail spaces with valuable, established tenants.

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