A space that previously housed an office supply store in Folsom will become a gym, in what’s expected to be a multimillion-dollar project.
Taymax Group LP, a large franchisee of Planet Fitness Inc. gym locations, has signed a lease for a site at 875 E. Bidwell St., said Taymax CEO Tim Kelleher. The Folsom space was previously occupied by Office Depot, which closed the store in 2020.
At about 25,000 square feet, the planned Folsom site is expected to be the franchise group’s largest Planet Fitness (NYSE: PLNT) location in California, according to Kelleher. On average, its locations are about 18,000 square feet, the group said.
Salem, New Hampshire-based Taymax Group has more than 115 Planet Fitness locations, including sites in the Sacramento area and beyond, Kelleher said.
He said the group had been considering a possible Folsom location for about five years, and the former Office Depot space ultimately fit the bill. He hopes to open the location by New Year’s Eve. Kelleher expects it will be a $3 million project, which includes the cost of equipment.
Hampton, New Hampshire-based Planet Fitness was founded in 1992. The chain, which has many Sacramento-area sites, offers low membership rates and an assortment of exercise equipment.
Taymax Group is also moving forward with an upcoming Planet Fitness location at 3615 Bradshaw Road in Sacramento County. That site, which fills a portion of a former grocery store space, is expected to open in the fourth quarter, Kelleher said. In addition, the group is planning a Woodland location of Planet Fitness, which could open in 2023, he said.
Some observers questioned the future of gyms when fitness facilities temporarily closed to slow the spread of Covid-19. But Kelleher said his group is “excited about the recovery in California.”
“We feel the California market specifically has been great for us over the last 12 months,” he said.
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