CDM Fitness Holdings (CDM) — an SBJ Capital portfolio company based in Foxborough, Massachusetts, with an office in Kent, Washington — and one of the largest developers and operators of fitness clubs under the Planet Fitness brand announced the purchase of seven Tacoma, Washington area Planet Fitness clubs from Jeg Viper LLC of Philadelphia.
The properties, totaling nearly 162,000 square feet, include Bonney Lake, Milton, Puyallup, Tacoma Fern Hill, Tacoma West End, University Place and Tacoma Eastside.
This transaction — which did not involve brokers — grants CDM the rights to build and operate additional clubs in the Tacoma area. It marks CDM’s second Planet Fitness acquisition in Washington state, following the 2023 purchase of 10 locations in the Seattle area: Renton, Federal Way, Kent, Woodinville, Des Moines, Marysville, Covington, Auburn, Kent Valley and Bellevue, which opened in July 2023.
“Seattle-Tacoma is a diverse, vibrant market, and we believe underserved in terms of affordable fitness options,” said Bruce Edwards, the CEO of CDM. “We have experienced a positive reception since entering the greater Seattle market, and our immediate plans are to reinvest in and enhance our existing locations with new equipment and facility upgrades to ensure that our member experience rivals that of a brand-new facility. We’re also actively looking to expand our Planet Fitness network to additional areas in and around the region.”
CDM opened its first Planet Fitness club in 2002 in Massachusetts and entered into one of the first exclusive area development agreements with Planet Fitness corporate. In 2011, CDM established the first marketing cooperative in the Planet Fitness system. Since that time, CDM has grown to 80 clubs in Massachusetts, Rhode Island, New Hampshire, Vermont and Washington state through new club openings and acquisitions and is now one of the largest operators of Planet Fitness clubs.
