The CEO of Planet Fitness, one of the largest exercise franchise companies in the country, bulked up with the $10.5 million sale of his waterfront South Florida estate.
Via a trust managed by Michael Bass, Planet Fitness CEO Chris Rondeau and his wife, Michelle Rondeau, sold their three-story Delray Beach mansion at 978 Gardenia Drive to a trust, property records show. The buyer is a tech CEO from the Northeast, according to their agent, Courtney Fuhrmann of Waterfront Properties and Club Communities. She declined to provide the tech CEO’s name.
The seven-bedroom, nearly 17,000-square-foot home sits on a double-corner lot and was built in 2003. The Mediterranean-style mansion has nine full baths and five half-baths, a pool, cabana and dock with 230 feet of water frontage, according to the listing and property records.
The buyer’s trust, managed by Carol Pugliese, financed the purchase with a nearly $7.5 million loan from FBC Mortgage, records show.
The property hit the market in April for about $11.5 million with John Poletto of One Sotheby’s International Realty, according to Realtor.com. It previously sold for close to $9.6 million in 2012, and the couple transferred ownership to a trust about two years ago.
Chris Rondeau has been CEO of Planet Fitness since January 2013, and was COO before that, a role he held for a decade. Rondeau began working for Planet Fitness in 1993, a year after it was founded, according to his bio. The company now has more than 2,000 locations.
Other recent high-priced deals in Delray Beach include the $34 million sale of the mansion at 855 South Ocean Boulevard in October, as well as the nearly $22 million sale of the estate at 1111 South Ocean Boulevard this summer.