LAWRENCEVILLE - After nearly 22 years of operating a health club that promoted a family atmosphere, Fitness International owner Tim Mansour is selling the gymnasium that has been in its current location off of Ga. Highway 316 for 14 years.
The Georgia Gwinnett College Foundation has entered into an agreement to purchase the 50,000-square-foot building, its sports and training equipment, and 2 acres of land for $5.5 million, officials announced Wednesday. The sale is set to close on Feb. 1, said Jennifer Stephens, the college's spokeswoman.
The gym will close to its 3,500 members on Jan. 31, and memberships will be transferred to Life Time Fitness Sugarloaf, Mansour said.
Mansour said the sale was discussed for about seven months, and he thinks they reached a price that was fair to both sides. He said he was "very satisfied" with the agreement, which he called a "win-win situation."
Mansour said he'll continue to work at the Collins Hill Athletic Club, which he owns, but he will be working fewer hours and have the opportunity to spend more time with his family.
"This last club has been a part of my life for 22 years," Mansour said. "It's sad, but it's time to move on."
The GGC Foundation's pending purchase will provide the
college with access to recreation facilities, including exercise equipment, basketball and racquetball courts and a pool, said Jennifer Stephens, the college's spokeswoman. College students and employees will be able to use the facility shortly after the sale is finalized.
GGC Foundation President Gordon Harrison said in a news release that the purchase is a "strategic acquisition ... given its proximity to Highway 316." The land is located on Collins Industrial Way, which is off of Ga. 316 just west of the intersection with Collins Hill Road.
The Foundation has previously purchased two buildings near that intersection. One building, which formerly housed Plumbing Distributors Inc., has been converted into the College's Student Students Center. The other is being leased to its former owners, Valentine Enterprises.