The Registry Staff
A retail/hospitality opportunity has emerged in the City of Renton, Washington, as a sprawling 10.5-acre property, home to a local Topgolf facility, is now available for purchase. The property’s listing, handled by Northmarq, offers potential investors the chance to acquire a piece of real estate with Topgolf as a long-term tenant in the property.
In 2019, RealtyLink, a South Carolina developer, acquired this property for $27 million. In July 2022, the 74,000-square-foot Topgolf facility at 780 Logan Ave. N. opened its doors, creating a facility that boasts a 4.4-acre driving range, three indoor swing suites, a full restaurant and bar, event space, and a rooftop terrace, according to a report in the Puget Sound Business Journal.
“This is a long-term lease with Topgolf International, who is doing extremely well in this location,” commented Sean Tufts, managing director of investment sales for Northmarq in the report. “This is one of the top locations in the system and their largest format with 102 bays. It is also one of the largest corporate event spaces in the Puget Sound.”
No pricing guidance has been offered for the property at this time, however, early construction costs following the acquisition were estimated to be around $30 million.
Topgolf, a Dallas-based company, operates approximately 70 full-scale driving ranges across the nation, making it a recognized name in the world of entertainment and sports. In addition to the Renton facility, Topgolf has expanded its presence in the region with its first-ever Topgolf Lounge in Kirkland and two swing suites in Bellevue and Seattle. The Renton property represents an integral part of Topgolf’s strategic expansion and success in the Pacific Northwest.