Luxury athletic club debuts 8th New Jersey location
Jessica Perry//March 1, 2024//
Luxury athletic club debuts 8th New Jersey location
Jessica Perry//March 1, 2024//
Working out in Monmouth County just got elevated. Life Time Middletown – Red Bank is officially welcoming members to the brand’s latest Garden State location.
Launched Feb. 27, the 127,000-square-foot facility is Life Time Inc.’s eighth in New Jersey. It arrives on the heels of the nearby Life Time Work coworking space.
Located at 230 Half Mile Road in Red Bank, just off the Garden State Parkway, the properties offer a premium wellness, health and work experience. Additionally, the operator said the new club created more than 230 full- and part-time jobs for the area.
“Our expansion across the East Coast and here in New Jersey is a direct result of our strong performance as our brand continues to become a staple for millions of people nationwide,” said Parham Javaheri, Life Time executive vice president, president of club operations and chief of property development.
Life Time Work Middletown – Red Bank is located on the One River Centre office campus. The coworking space at 331 Newman Springs Road is the company’s second in the state.
The 45,000-square-foot facility features open floor plans and lounge spaces as well as open or dedicated desks and offices for individuals or companies.
Outdoors, members can use a gathering space or walk along the Navesink River.
Life Time entered the New Jersey market in 2008. Since then, it opened its first Life Time Work location (next to its club in Bridgewater) and debuted unique concepts. In 2022, Life Time opened a first-of-its-kind in the nation boutique offering in Hackensack.
“The opening … allows us to serve residents of Monmouth County with our multitude of health and lifestyle offerings, while the design flexibility of our clubs makes us ideally suited for reimagined office park redevelopments with hyper amenities to meets the needs of the new age worker,” Javaheri continued.
At three stories, Life Time in Monmouth County features the brand’s upscale architecture, design, comprehensive programing and offerings. The property includes a 50,000-square-foot outdoor pool deck.
The opening – the company’s first ground-up athletic country club debut of 2024 – preceded Life Time’s sunny Fourth Quarter and Full Year 2023 results.
“I am thrilled to report that we achieved our operating and strategic objectives and exceeded our financial goals in 2023. We set record levels of revenue and adjusted EBITDA, improved our balance sheet, and further reduced our net debt leverage ratio,” Bahram Akradi, founder, chairman and CEO, said in the Feb. 28 announcement.
The Minnesota-based company’s total revenue increased 18.2% to $558.8 million in Q4 and 21.6% to $2.2 billion for FY 2023. Life Time attributed the upticks to persistent growth in membership dues and in-center revenue.
“Life Time has always focused at the higher end of a leisure brand, and then we focus being on as much a subscription business as possible,” Akradi told Yahoo!Finance, adding: “Our members are using the club about … 12 and a half, 13 times per month. It’s a deeply used subscription. The retention rates are at all-time highs.”
Life Time’s other New Jersey locations include: Berkeley Heights, Montvale, Mount Laurel and Plainsboro.
In Red Bank, memberships start at $279 monthly. The club is open Monday through Friday, 4 a.m. to midnight. On Saturday and Sunday, hours are 5 a.m. to 10 p.m. More information is available here.