Peter Morgan will lead new investment in clubs and facilities for members through the commercial real estate and property management arm of the business.
24 Hour Fitness, the 40-year leader in health and fitness, announced today the appointment of Peter Morgan as their new head of real estate. Morgan comes from a long background in commercial real estate and asset management, overseeing all aspects of acquisition, management, development and negotiation for both holding companies and investment firms. 24 Hour Fitness has made additional hires at the senior director level in their real estate department to support this new reinvestment.
Prior to joining 24 Hour Fitness’ team, Morgan was the SVP at Westport Capital Partners where he managed 3.2 million square feet of assets across the western U.S.
“It’s great to be able to merge my experience overseeing commercial real estate at scale with a brand that is making a substantial new investment into making their gym experiences as fresh and new as it can be,” said Morgan in a statement. “24 Hour Fitness’ holdings and tenancy across the U.S. represent a significant opportunity for operational excellence while helping people lead more healthy, active lives.”
The head of real estate will report into 24 Hour Fitness’ CEO, Karl Sanft, and will be based at corporate headquarters in Carlsbad, California.
“We’re currently investing millions in club improvements across the U.S. over the next calendar year. That, in concert with operating nearly 300 locations, means we spend extensive time making sure our members are proud to work out in their home gym,” said Sanft in a statement. “Having Peter on our growing team means we can continue to improve and update our clubs as the needs of our members evolves and progresses.”
