Sixty is the new thirty, and ninety is the new sixty. As Americans age, many are approaching later life with a more optimistic, forward-looking mindset. Accelerated sharply in the wake of the pandemic, it is fueling growing demand for proactive wellness services, and an industry that has risen decisively to meet it.

The global wellness market is projected to reach nearly $10 trillion by 2030, up from $6.8 trillion in 2024, according to the Global Wellness Institute. As U.S. consumers prioritize wellness — 84% according to McKinsey — and direct their spending toward products and services that improve quality of life, fitness studios can no longer limit themselves to exercise alone. A new wave of centers now emphasizes sleep, nutrition, and more personalized forms of movement.

In 2025, that shift translated directly into real estate, with salons, spas, and fitness concepts overtaking goods-based retail to claim more than half of all leased square footage. Wellness and prevention trends are keeping people younger in body and mind. And with more than 39% of Gen Zers — more so than Gen Xers — using fitness as a way to meet people who share their interests, the future of wellness is becoming a social hub once reserved for bars and clubs. Gen Z is also leading demand in this category, capturing the highest share of fitness purchases at 13.8%, reinforcing the growing role of wellness in shaping consumer behavior.

Underlying this evolution is a growing recognition that health is not one-size-fits-all. Consumer interest in biohacking has accelerated, driven by advances in diagnostics, immunotherapy, and individualized medicine — fueling a thriving commercial category with access points spanning nearly every budget and lifestyle.

Cold Plunge, Saunas, and Hydration Therapy

The most accessible and widely adopted modality is contrast therapy, which pairs cold plunges with deep-heat saunas to stimulate circulation. Boutique facilities built around this model are emerging across top markets, positioning themselves in urban neighborhoods as communal third places where people gather to connect as much as to recover. Aire Ancient Baths, first established in Seville, Spain, has expanded its US footprint with locations in New York City and, most recently, Chicago. Bathhouse’s social wellness clubs span 35,000 square feet of thermal pools and saunas, and plan to open 10 US locations by 2027, including additional neighborhoods in New York City, as well as Chicago, Los Angeles, Minneapolis, Nashville, and Philadelphia.

Hydration clinics are also gaining popularity and attracting high repeat visits from consumers. IV drip therapy has steadily moved from niche to mainstream. Key players, including Prime IV Hydration & Wellness, The DRIPBaR, Hydrate IV Bar, and Hydration Room, are executing national expansion strategies. These specialized medical retailers typically sign long-term leases to accommodate significant build-out investments, often requiring approximately 10,000 square feet of space — making them attractive, stable tenants for shopping center operators.

The wellness movement is also reshaping food and beverage retail. Consumers increasingly view nutrition as preventative care, fueling demand for protein-forward menus, functional beverages, low-sugar offerings, and ingredient transparency. Protein snacks alone surged 47.5% year-over-year, underscoring how quickly consumers are shifting toward functional eating habits. This has accelerated growth for smoothie concepts, health-focused fast casual brands, supplement retailers, and grab-and-go wellness formats seeking space in shopping centers and mixed-use projects.

Next Level Wellness

Luxury consumers are pushing longevity wellness into new territory, with discretionary income often determining access to premium services. Treatments like plasma filtration and exchange — designed to slow biological aging at the cellular level — can now command upwards of $10,000 per session, signaling a new ceiling for what consumers are willing to invest.

Several luxury fitness operators are already delivering full-spectrum wellness that spans this range. Equinox, Life Time, and specialized concepts like Love.Life have added biohacking and longevity services alongside traditional training and classes, evolving into resort-style athletic clubs where fitness, recovery, and community come together. Life Time Fitness has pushed the category even further by integrating luxury residential units into select developments, creating live-work-wellness ecosystems where fitness, hospitality, and housing converge under one brand.

Equinox, the category pioneer, has steadily expanded into high-performance lifestyle services—from its Sleep Lab to a waitlisted “Optimize” membership tier offering specialized coaching in nutrition, sleep, and personal training, with a dedicated health concierge. The brand operates 115 clubs nationally and continues to grow, with its most strategically significant move being its extension into luxury hospitality: the Equinox Hotel Hudson Yards marked its entry into immersive, residential-scale wellness, with additional properties planned for destinations including the Red Sea Project and Anguilla.

For retail real estate, the implications are clear. Longevity wellness spas and clinics are driving traffic, sometimes serving as anchors in mixed-use retail spaces. Built around repeat visits and experience, these concepts are becoming key drivers of performance. As the category continues to grow, operators have an opportunity to position wellness as a core part of their tenant mix.

Connect with a Colliers advisor to explore how wellness tenants can support your leasing strategy.