Item 2. Properties
Item 2. PROPERTIES
We operate distinctive, resort-like athletic country club destinations in both affluent suburban and urban locations centered around major metropolitan areas in the United States and Canada. As of December 31, 2022, we operated 161 centers in 29 states and one Canadian province, 57 of which were owned (including ground leases) and 104 of which were leased. During 2022, we opened 10 new centers. Our luxurio us athletic country clubs total approximately 16 million square feet in the aggregate and measure approximately 99,000 square feet on average. They offer expansive fitness floors, spacious locker rooms, group fitness studios, indoor and outdoor pools and bistros, indoor and outdoor tennis courts, pickleball courts, basketball courts, LifeSpa personal care services, LifeCafe healthy restaurants and child care and Kids Academy learning spaces. Excluding renewal options, the terms of our leased centers, including ground leases, expire at various dates from January 2024 through December 2049. Including renewal options, only seven of our 104 leases expire in the next 15 years. The majority of our leases have renewal options and a few grant us the right to purchase the property. Of our 57 owned properties, 24 are pledged as collateral under our senior secured credit facility as well as our secured notes, and 13 are pledged as collateral under our mortgage notes.
Our corporate headquarters, located in Chanhassen, Minnesota next to our Chanhassen center, is comprised of two 105,000 square foot, free-standing, three-story buildings that we own.
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The table below contains information about our centers as of December 31, 2022:
Number of
Owned Centers Number of
Leased Centers Total Number
of Centers Aggregate
Square Feet
United States:
Alabama
0 1 1 103,647
Arizona
2 4 6 638,776
California
3 2 5 453,933
Colorado
3 3 6 657,557
Florida
1 3 4 315,898
Georgia
3 4 7 668,827
Illinois
7 6 13 1,456,901
Indiana
2 0 2 122,956
Iowa
0 1 1 110,376
Kansas
1 1 2 222,190
Maryland
0 4 4 348,983
Massachusetts
0 6 6 687,568
Michigan
2 5 7 682,638
Minnesota
13 9 22 1,997,354
Missouri
0 2 2 236,990
Nebraska
0 1 1 115,030
Nevada
1 1 2 261,673
New Jersey
1 5 6 683,135
New York
2 7 9 686,346
North Carolina
1 3 4 375,252
Ohio
1 5 6 508,297
Oklahoma
0 2 2 237,769
Pennsylvania
0 3 3 310,170
Tennessee
0 2 2 228,625
Texas
10 17 27 2,668,283
Utah
0 1 1 108,925
Virginia
1 4 5 510,131
Washington
0 1 1 39,597
Wisconsin
0 1 1 126,423
Canada:
Ontario
3 0 3 400,435
Total Centers
57 104 161 15,964,685
In a few of our centers, we sublease space to third parties. The square footage figures above include those subleased areas. The center square footage figures exclude areas used for tennis courts, outdoor swimming pools, outdoor play areas and stand-alone Life Time Work, Life Time Sport and Life Time Swim locations.
In addition to the centers listed in the table above, as of December 31, 2022, we had incurred $456 million of capital expenditures invested in future center development, including 12 centers under construction. We also operate six facilities that we classify as satellite locations. These include tennis-only facilities that we own in Oakdale, Minnesota; Centennial, Colorado; and Plano, Texas; along with leased small centers in Austin, Texas; Battery Park, New York; and Hackensack, New Jersey.
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Other Property Data :
December 31,
2022 2021 2020
(Number of centers)
Center age:
Open 1 to 12 months 10 6 3
Open 13 to 48 months 18 23 27
Open 48+ months 133 122 119
Total centers 161 151 149
Center ownership:
Own 32 33 34
Own/ground lease 11 11 11
Own/mortgaged outside of Credit Facilities 13 18 18
Joint venture 1 1 1
Leased 104 88 85
Total centers 161 151 149