Planet Fitness signs 12-year lease at Olympia Plaza

Matanky Realty Group landed a 12-year Planet Fitness lease for 10,860 square feet at Olympia Plaza in Chicago Heights, pushing the grocery-anchored center to about 95% occupancy. The club is set to open in summer 2027 and is expected to add traffic for the retail mix at the South Suburban property.

Why it matters: - Planet Fitness adds a national fitness anchor to Olympia Plaza, a move that can lift foot traffic across the center’s shops and restaurants. - The lease pushes the 123,597-square-foot property to about 95% occupancy, reducing vacancy at a key retail destination in Chicago Heights. - The deal strengthens leasing momentum at a grocery-anchored center with more than 40 businesses and room for additional tenants.

What happened: - Matanky Realty Group announced a 12-year lease with Planet Fitness for 10,860 square feet at Olympia Plaza. - The new club is planned for the east endcap at 79–207 W. Joe Orr Road in Chicago Heights. - The fitness club is expected to open in summer 2027. - James E. Matanky, Terri Cox and Troy Bates of MRG represented the landlord. - Robert Melsher of Metro Commercial represented Planet Fitness.

The details: - Olympia Plaza is anchored by Country Squire Foods, which is now under new ownership. - The grocer recently completed interior and exterior renovations and added new product lines. - The center’s tenant roster includes DTLR, Rainbow, Little Caesars, Family Dollar, Subway and DaVita. - Recent openings at the property include Breaking Point Rage Room. - Olympia Plaza has more than 600 parking spaces. - There are 169,681 residents within three miles of the center. - Turnkey suites from 1,500 to 3,130 square feet are available. - Leasing inquiries go to MRG at 312-337-1001.

Between the lines: - Planet Fitness brings a repeat-visit business model to the center. The brand reports more than 21.5 million members, 2,930 clubs and more than 40 million monthly visits. - MRG is positioning Olympia Plaza as a convenience-driven retail hub for Chicago’s South Suburbs. - The lease reflects continued demand for space in grocery-anchored shopping centers with strong daily-needs traffic.

What's next: - Planet Fitness is slated to open in summer 2027. - MRG is still marketing available suites at Olympia Plaza. - The new tenant mix is expected to support additional leasing at the property.

The bottom line: - Olympia Plaza is nearing full occupancy, and Planet Fitness gives the center a higher-profile tenant likely to deepen shopper traffic and stabilize leasing.