Home New mexico real estate Topgolf real estate buyer, sale price made public

Topgolf real estate buyer, sale price made public

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An aerial view of Albuquerque’s Top Golf Location at 1600 Desert Surf Circle NE. (Roberto E. Rosales / Journal)

The property housing Albuquerque’s Topgolf location was sold below list price last month to a Nevada-based limited liability company, according to the broker representing the buyer.

Ami Meng, head of transactions for real estate brokerage Marcus & Millichap, told the Journal that the property was sold in October to an entity known as TG Albuquerque LLC.

The entity is registered at 9811 W. Charleston Blvd. in Las Vegas, Nevada, with Michael Wang-Lu and Frank Wang-Lu listed as managers, according to the Nevada Secretary of State’s office. Both men were on the roster of directors of several other Nevada limited liability companies, according to the state agency.

Meng said the property sold for just over $ 15.3 million after it was listed on real estate website LoopNet in September for $ 16 million. The sale was finalized on October 21, Meng said.

Topgolf’s first location in New Mexico opened at 1600 Desert Surf Circle NE in February. The Texas-based company operates air-conditioned sports entertainment complexes where customers play a variety of games using microchip golf balls.

A city and county incentive package totaling $ 4.3 million helped support the development. Albuquerque Mayor Tim Keller vetoed the city’s incentive program before city council overturned the veto in August 2018, according to a previous Journal article.

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