Cherry Creek Athletic Club sold to national chain
GLENDALE, Colo. — Cherry Creek Athletic Club is under new ownership.
Minnesota-based chain Life Time purchased the health club at 500 S. Cherry St. in Glendale — a short distance from Cherry Creek proper — in a deal that closed Thursday, according to an email sent to members. Life Time took over operations on Friday.
The sale is the second major development of 2019 in the Cherry Creek-area health club market. Pura Vida closed its location at 2955 E. First Ave. earlier this year.
Life Time bought the club from Denver-based Millice Group Ltd, a commercial real estate investment and development group that does not operate any other gyms. Millice Group bought the club in 1994, according to its spokesman.
Life Time spokesman Jason Thunstrom declined to disclose the terms of the deal, which he said included the club’s real estate. Public records show a $30 million figure associated with the real estate transaction.