Ledes from the Land of Enchantment

Topgolf property listed for $ 16 million

A customer practices his swing at the Topgolf location in Albuquerque, 1600 Desert Surf Circle NE. The property is available for sale at a list price of $ 16 million. (Roberto E. Rosales / Journal)

The Albuquerque top golf property is on the market at $ 16 million list price.

The 14-arch property that houses the much-touted entertainment venue along Interstate 25 is available for sale on the Hanley Investment Group website. An advertisement for the property also appeared on the LoopNet commercial real estate website.

A real estate agent affiliated with the property confirmed that the property is for sale but declined to comment. Albuquerque Business First was the first to cover 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 facility became a hot topic in 2018 as the project was backed by a $ 4.3 million incentive package from city and county governments, according to previous Journal reports.

Albuquerque Mayor Tim Keller vetoed the city’s incentive package before the city council lifted the veto in August 2018.

The listing states that Topgolf has invested around $ 16 million in improving the site, which will be returned to the landlord after the 20-year lease expires. The Texas-based company welcomed over 23 million visitors to its multi-state presence and had sales of $ 1.1 billion in 2019, according to the listing.

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