On Dec. 4, Life Time, Chanhassen, Minnesota, opened an athletic resort adjacent to the Southdale Center, a Simon Property Group shopping mall in the Minneapolis suburb of Edina. The resort is the first collaboration between Life Time and Simon, whose business partnership was first announced in mid-2017.
The $43 million, 204,000-square-foot facility spans three stories and includes Life Time Work and Life Time Sport spaces in addition to the company's signature amenities.
Southdale Center is the site of America's first enclosed shopping mall, according to a media release by Life Time.
"Our Life Time project at Southdale Center is one of our most exciting to date for our company and brand and also for how consumers think about and use shopping centers," Life Time founder and CEO Bahram Akradi said in the release. "In partnership with Simon and others across the country, we're creating an entirely new approach to these ever-important locations to bring people back to these community hubs. Malls that are well-located are a great story—not a sob story."
Life Time Edina at Southdale features the company's first rooftop beach club along with indoor basketball courts, swimming pools, a dedicated LT Recovery space, LifeCafe and LifeSpa.
Life Time Work and Life Time Sport, the company's newly developed community sports concept, are housed within a 57,000-square-foot space that adjoins the resort.
Akradi said Life Time Edina at Southdale will bring at least 3,000 people to Southdale Center every day.
"Our iconic collection of properties generates billions of visits each year, and having our finger on the pulse enables us to partner with dynamic brands such as Life Time to build the next generation of exciting and innovative experiential destinations," Simon CEO David Simon said in the release. "We're constantly re-imagining our properties to offer customers new health, dining, entertainment and shopping experiences that cannot be found elsewhere, and our partnership with Life Time to transform Southdale is a perfect example of our market-leading strategy."
Life Time Edina at Southdale is the company's 24th location in Minnesota and its 148th location overall.
The company ranked No. 2 on Club Industry’s Top 100 Health Clubs of 2019 list with $1.750 billion in 2018 revenue, which was ascertained by sources in the industry, but not reported by Life Time directly. This represents a year-over-year increase of 12.9 percent.