The property housing Topgolf’s location in Albuquerque is on the market, with a list price of $ 16 million.
The 14-arch plot of land that houses the popular entertainment venue along Interstate 25 is listed as for sale on the California-based Hanley Investment Group website. A listing of the property also appeared on the LoopNet commercial real estate website.
A broker associated with the property has confirmed that the property is for sale, but declined to comment further. Albuquerque Business First was the first to report the news.
Topgolf opened its first location in New Mexico, at 1600 Desert Surf Circle NE, in February after years of construction and delays related to COVID-19. Financial incentives for the installation became a hot topic in 2018, as the project was supported by a $ 4.3 million incentive package from city and county governments, according to a previous Journal article.
Albuquerque Mayor Tim Keller vetoed the city’s incentive program before city council overturned the veto in August 2018.
The listing says Topgolf has invested around $ 16 million in site improvements, which will come back to the owner at the end of the 20-year lease. The Texas-based company welcomed more than 23 million visitors to its multi-state footprint and generated $ 1.1 billion in revenue in 2019, according to the list.