June 25, 2007
Westboro Tennis and Swim Club expands to deuce
By Cory Hopkins
The Westboro Tennis and Swim Club has acquired Mass Health and Fitness in Shrewsbury for an undisclosed amount.
Mass Health and Fitness, formerly known as the Shrewsbury Racquet Club, is now known as Shrewsbury Health and Racquet Club (SHARC), said Justin Lundberg, owner of the two clubs.
The Shrewsbury facility includes almost 90,000 square feet of indoor space on 10 acres of land off of Tennis Drive. Amenities include tennis courts, racquetball courts, a fitness and cardio center, group exercise studio, an outdoor pool and a pub.
Rare find
SHARC will be a complementary facility to the Westboro Tennis and Swim Club, purchased in 2005 by Lundberg and his partners with financing from Benjamin Franklin Bank and a Small Business Administration 504 Loan. The SBA Loan allowed Lundberg to finance the real estate purchase with less property equity than otherwise required, Lundberg said.
Lundberg said he hopes the new facility will both serve his existing club members and help attract more members from the greater Worcester area.
"Clubs of this size, 75,000 square feet plus, there's very few left, and they sell seldomly, so when the opportunity came up to purchase one, we definitely had to look at it," Lundberg said. "It prevents somebody else from coming in and competing with us, it will provide more services to our members, and hopefully draw in more members, too. It will also help in terms of economies of scale items like maintenance and administration. So it was a good fit for us."
Mass Health and Fitness, formerly known as the Shrewsbury Racquet Club, is now known as Shrewsbury Health and Racquet Club (SHARC), said Justin Lundberg, owner of the two clubs.
The Shrewsbury facility includes almost 90,000 square feet of indoor space on 10 acres of land off of Tennis Drive. Amenities include tennis courts, racquetball courts, a fitness and cardio center, group exercise studio, an outdoor pool and a pub.
Rare find
SHARC will be a complementary facility to the Westboro Tennis and Swim Club, purchased in 2005 by Lundberg and his partners with financing from Benjamin Franklin Bank and a Small Business Administration 504 Loan. The SBA Loan allowed Lundberg to finance the real estate purchase with less property equity than otherwise required, Lundberg said.
Lundberg said he hopes the new facility will both serve his existing club members and help attract more members from the greater Worcester area.
"Clubs of this size, 75,000 square feet plus, there's very few left, and they sell seldomly, so when the opportunity came up to purchase one, we definitely had to look at it," Lundberg said. "It prevents somebody else from coming in and competing with us, it will provide more services to our members, and hopefully draw in more members, too. It will also help in terms of economies of scale items like maintenance and administration. So it was a good fit for us."
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