Life Time Inc. opened its newest Orange County facility in March, adding to the ranks of high-end gyms in the area around John Wayne Airport.
The Irvine facility at the Lakeshore office complex spans 94,000 square feet. Life Time (NYSE: LTH) said it spent over $30 million to revamp the former 24 Hour Fitness site along the San Diego (405) Freeway that closed during the pandemic.
The lease was originally signed in 2021. The spot marks the Chanhassen, Minn.-based operator’s third OC property.
Its two other fitness spots are in San Clemente and Laguna Niguel.
It is the second-largest Life Time center in the region and sits just off Von Karman Avenue, a few blocks from the airport. It’s roughly triple the size of a typical LA Fitness or 24 Hour Fitness facility.
Life Time opened 10 new centers in 2022 and ended the year with 161 centers in the U.S. and Canada employing more than 34,000 people.
The company plans to open another 10 in 2023, including the Irvine location.
General Manager Sonja Mains told the Business Journal during a previous construction tour that Irvine was an ideal market because of the base of companies in the area. This facility is expected to serve both local residents as well as business execs and employees at nearby offices.
Features
Dubbed Life Time Lakeshore-Irvine, the new center spans three floors and provides workout equipment, classes, studios and other lifestyle amenities to its members.
The $30 million renovation took over a year to complete with Life Time’s own internal architecture and design team at the helm. Life Time said it invests between $50 million and $200 million to build a ground-up facility.
The ground floor houses private studios that host over 150 classes from cycling to yoga.
The second story has a basketball court along with about 170 surrounding pieces of cardio equipment.
“We’re paying attention to what our members want,” Area Director Brian Gaeta said on a recent tour.
With an open roof design, the top level looks out over the court and is home to the weightlifting area.
A notable piece of the architecture is the arching wall-to-wall windows that shine natural light across the top two floors.
“The potential of this building is finally coming into fruition,” Gaeta said.
Two fast-casual restaurants are included with a full liquor license. The outdoor five-lane pool has an accompanying bistro and bar as well with nearby cabanas and lounge seating.
The gym also features a full-service spa that offers haircuts, massages and esthetician services, which will be open to the public along with the café.
“We want people to spend time here” and not just workout, Mains said of the programs included in the gym membership. All this plays into the overall idea of “investment over membership,” she added.
There’s also a dedicated children’s space, or “Kids Academy,” that will host in-house activities and programs for kids in childcare or local youth teams, such as tumbling or gymnastics classes. A family center is available as well.
There will be around 230 employees across the entire facility. “Time and care and investment starts with team members,” Mains said.
Coastal Expansion
The nearly $3 billion-valued fitness operator’s largest markets are Minnesota and Texas, with over 20 locations in each state. Mains said that Life Time is currently looking to grow on both coasts.
Life Time’s portfolio of almost 163 gyms has a range of price points that are all based on location, demographics and the size of the facility.
With the Irvine center, memberships currently start at $299 a month; some rates are expected to go up as high as $400, which will be among the higher price points in Life Time’s collection. Its average monthly membership was $208 in February, officials said last month.
Other boutique fitness chains such as Fitness International’s Club Studio and Equinox offer memberships starting around $189 and $260 monthly, respectively.
The company reported that fourth-quarter revenue grew 38% to $1.3 billion. There are between 1,500 to 2,000 members across all locations.
Life Time had previous plans to build a gym at another Irvine location—FivePoint’s Great Parks Neighborhoods. This facility could have been the developer’s largest local facility running 125,000 square feet with talks of five pools, basketball courts and similar offerings included.
Such plans have not been updated since 2020 but Irvine remains a city of interest for future expansions. Another location in the works includes a 125,000-square-foot leased space at the 1.3 million-square-foot Brea Mall.
