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Where We Buy: Retail Real Estate with James Cook
The rapid rollout demonstrates the profitability of boutique fitness in premium retail spaces, reshaping leasing strategies for landlords and investors.
solidcore has more than doubled its footprint since 2022, jumping from 85 studios to 165 and targeting 205 by year‑end. This aggressive rollout reflects a broader shift toward boutique fitness concepts that blend high‑intensity training with premium real‑estate assets. By anchoring locations in urban submarkets with strong foot traffic, the company captures discretionary spend from millennials and Gen Z consumers who prioritize health as a lifestyle. The expansion also signals confidence in the post‑pandemic recovery of physical‑activity demand, encouraging landlords to re‑evaluate lease terms for fitness tenants.
The brand’s core demographic—women aged 25‑35—drives its site‑selection criteria. solidcore looks for neighborhoods where this cohort clusters around work, residential, and retail nodes, creating a natural “third place” that encourages repeat visits. Partnerships with premium grocers and athleisure retailers reinforce the health‑centric ecosystem, offering cross‑traffic and reinforcing brand perception. Community‑driven programming, from group reformer classes to wellness workshops, deepens member loyalty and boosts frequency, turning each studio into both a workout hub and a social gathering spot.
Real‑estate challenges remain, especially as Texas markets experience rising rents and competitive demand for mixed‑use spaces. solidcore’s corporate‑owned model mitigates variability by standardizing design, operations, and lease structures, delivering predictable cash flows for investors. The firm’s willingness to allocate capital to retail‑grade locations underscores a renewed confidence in brick‑and‑mortar retail as a driver of brand equity. As the company approaches its 205‑studio goal, its approach may become a blueprint for other fitness operators seeking scalable growth without sacrificing the boutique experience.
Josh Rainey is Senior Director of Real Estate + Growth at [solidcore], a boutique fitness operator specializing in intense strength training workouts on custom-built reformers. [solidcore] expanded from 85 locations in 2022 to 165 today, with plans to reach 205 by the end of the year. He discusses [solidcore]'s target demographic of primarily women aged 25-35, the importance of community-driven fitness experiences, and the brand's focus on longevity and preventative wellness. Josh covers site selection strategy, ideal co-tenants like premium grocers and athleisure retailers, and how the company's corporate-owned model ensures consistency across all locations. He shares insights on real estate challenges including rising rents in Texas, the return of capital investment to retail, and the importance of creating third places that inspire curiosity and frequency.
James Cook is the Director of Retail Research in the Americas for JLL.
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Theme music is Run in the Night by The Good Lawdz, under Creative Commons license.
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