A new business in Nittany Mall hopes to get off to a running start when it opens Dec. 17.
That would be only appropriate for Planet Fitness, a fitness center company based out of Newington, N.H.
Planet Fitness, located next to Sears in the mall, has undergone months of renovations, which will be completed days before its opening.
“We look forward to being a mainstay in State College,” regional manager Stephen Kindler said. “We were looking at territories and got a deal struck with Nittany Mall, because we really feel it’s a growing community that’s been untapped.”
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He said new Planet Fitness locations tend to open at this time of year, because that’s when membership spikes for gyms.
“We don’t really set goals for numbers,” Kindler said. “I can tell you on a busy day we can see over 1,000 come in and that can be from December through April or May. That’s the busy season.”
The 18,300 square foot fitness center will employ 15 to 20 people.
“When we come into these new markets we hire local people to help the economy, and hopefully it has a trickle down effect locally,” Kindler said. “Hopefully, shoppers in the mall decide to become members, and the members we attract shop in other stores in the mall.”
People can register for membership next to Charlotte Russe in the mall.
Fresh start for Central PA Mixed Martial Arts
Business kept growing for Central PA Mixed Martial Arts so much that it’s outgrown its South Atherton Street home.
With about 500 students, there was a need for more breathing room.
“We’re busting at the seams,” head instructor Ryan Gruhn said. “We have had to add classes, and fortunately the new facility is four times the space we have now.”
CPAMMA’s goal is to move to 1445 W. College Ave., a Penn State property, by Jan. 1, though a grand opening date has not been set. Free parking will be provided at the new location, and free seminars will be provided throughout January.
The new home for CPAMMA will have an MMA cage, boxing ring and more 5,000 square feet of jiu-jitsu mats
“It’s going to be unbelievable,” Gruhn said. “Formerly, Kissell Motorsports leased it, and they renovated it. It’s beautiful inside with all hardwood floors. We’ll have all brand new equipment to go with it.”
Go to facebook.com/cpamma for grand opening updates.
A State College-based corporation recently closed on a $226.6 million loan with JP Morgan Chase.
Shaner Hotels will use some loan proceeds to buy out longtime business partner Almanac Realty Investor’s stake in 17 Shaner Hotel properties across the country. Almanac Realty Investors will continue to invest in Shaner Hotel’s Shaner Finance Fund, which provides rescue capital ad bridge financing to hospitality property owners.
The high-rated AAA 10-year fixed loan provides advantages to the company.
“We believe this loan not only affords us additional financial stability and strengthens our balance sheet, it also provides the flexibility to optimize our hotel portfolio’s performance moving forward while reducing our risk portfolio,” Chairman Lance Shaner said in a statement.