Home fitness startup Echelon fitness, a Peloton Competitor opens a gym at The boulevard, a new luxury rental in the MiMo district of Miami, the developers announced.
the Goldman Sachs-backed Echelon signed a 10,035 square foot lease for the building in 5700 Biscayne Boulevard. The space will serve as the company’s national headquarters and house a studio for spinning classes, a recording studio for creating online fitness classes, and a retail store.
Echelon’s main business is the sale of exercise bikes and other fitness equipment that come with access to its library of online courses. It only has one other studio for live classes – in Chattanooga, Tennessee, where it is based.
In 2020, Echelon raised $ 65 million in a Goldman-led funding round after Echelon’s revenue surpassed $ 100 million, up more than 500 percent, largely thanks to pandemic lockdowns. corresponding Bloomberg. The funding gave Goldman’s investment arm a majority stake in the startup.
The company is one of two new retail tenants on 294 Unit Blvd, which is from. is being developed Tricera capital and Investments on the 13th floor, and includes 27,000 square feet of retail space on the ground floor.
Gourmet espresso bar cream occupies 2,400 square meters on the ground floor, but also serves drinks on the roof. The local cafe has five other locations in the greater Miami area, including South Beach and Coral Gables.
The building is scheduled to open in the first quarter of 2022.
Echelon did not respond to a request for comment. Tricera declined to offer a retail rental for the property.
Chava Gourarie can be reached at cgourarie@commercialobserver.com.
