Colliers International has leased a long-vacant Mann’s Theater site at Tarzana Village Walk to a groundbreaking fitness studio called Beatbike, which will focus on the growing demand among bicycling enthusiasts for a fitness center designed specifically to meet their needs for both physical fitness and business networking. The five-year lease transaction was valued at $1.2 million.

Located above the largest Whole Foods Market in the San Fernando Valley and adjacent to a popular yoga studio, Beatbike selected the site for two reasons – its central location along Ventura Boulevard near Wilbur Avenue and the fact that as a former theater, it would allow it to more easily adapt much of the existing space to accommodate its specific needs – workout space, a comprehensive juice and nutrition bar, an amphitheater for class instruction, meetings and seminars, and a lounge area.

Re-purposing of the former movie theater was completed over the past several months and recently opened to the public. It has slated a grand opening for later in February, according to Beatbike principal Ashton Whited, who has overseen the re-design of the space. This is the first of what Whited hopes will be more Beatbike locations in Southern California, where cycling has grown into one of the most popular year-round fitness activities.

Colliers Senior Associate Jeff Abraham, Associate Vice President Patrick DuRoss, and Senior Executive Vice President John DeGrinis, SIOR, all based in the firm’s Encino office, represented Beatbike in the transaction.

The 45-minute full-body cycling workouts, emphasizing cutting-edge music and technology, are endorsed by certified USA Cycling coach Bruce Hendler, and are designed to for all categories of bicycle enthusiasts – from novice to expert.

Beatbike will utilize 45 Schwinn A.C. Performance Plus indoor cycling bikes, each equipped with an on-board computer coupled with group competition technology that will display statistics in real-time during classes. It also will allow individual members to view their personal ride data within the Beatbike website, Whited.

“Client entertainment has changed over the past several years,” Whited said. “Health and fitness is a growing concern in today’s society, creating a demand for innovative business networking resources that focus on lifestyle and productivity. Time is a precious commodity for everyone, and connecting over a short workout is a time effective and health conscious alternative to multi-hour cocktails or high-calorie dinner meetings.”