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Bryan Regan
O2 Fitness owner Michael Olander has a few more weights under his possession after buying 12 gyms in South Carolina.
O2 Fitness founder and CEO Michael Olander[1] Jr. has bought a chain of 12 fitness centers in the Charleston, S.C., area that will nearly double the portfolio of gyms owned by the Raleigh entrepreneur.
According to a report[2] in the Charleston Post and Courier, Olander’s O2 Fitness now owns the East Shore Athletic Club and its 12 locations throughout the Lowcountry.
O2 Fitness operates 13 gym locations around the Triangle and in Wilmington after purchasing in June[3] three club locations in Chapel Hill, Carrboro and Wake Forest.
Terms of the deal with East Shore Athletic Club were not disclosed.
Olander, a graduated of College of Charleston, told the South Carolina paper that he has no immediate plans to rebrand East Shore Athletic Club locations, but he does plan to invest more than $1 million in construction and improvement of its facilities in the next few months.
Amanda Jones Hoyle covers commercial and residential real estate. Follow her on Twitter @TBJrealestate
References
- ^ Michael Olander (www.bizjournals.com)
- ^ According to a report (www.postandcourier.com)
- ^ purchasing in June (www.bizjournals.com)
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