Topgolf commenced a corporately guaranteed, 20-year lease with zero landlord obligations and four, five-year renewal options. The base rent features annual contractual escalations throughout the primary term and option periods.
The brand-new facility features superior construction and an innovative design. The Property contains over 70, climate-controlled hitting bays, a rooftop terrace with fire pits and a stage for live performances, 200+ HDTVs, a full service restaurant, multiple bars, and a lower level lounge with complimentary billiards and
shuffleboard games. This location also offers miniature golf, a feature that is currently available at only three of the 55 venues worldwide. Mini golf adds additional appeal to the venue for events including birthday parties, other celebrations, or simply a fun day with friends and family.
In addition, the facility caters extremely well to corporate gatherings—a large revenue generator for Topgolf considering the dense daytime population in the immediate area—and is within a 10-minute drive to downtown Richmond.
Topgolf has created a truly unique entertainment experience that appeals to all demographics, as evidenced by the fact that more than 50% of Topgolf visitors consider themselves to be “non-golfers.” Topgolf hosted over 17 million people during 2018—an increase of more than 4 million people, year-over-year.
Capitalizing on its attractive guest demographics, Topgolf has sponsorship contracts with Coca-Cola, Lyft, Sprint and Master Card, in addition to partnering with local charities in its individual markets and communities. Topgolf has constructed and operates 51 venues in the U.S. and currently operates an additional four venues in the United Kingdom and Australia, on track to have 60 locations completed by the end of 2019. More than half of the 55 venues worldwide have been constructed in the past 10 years. The company is currently building an additional 10 venues domestically, and also plans to expand in Mexico, Canada and the United Arab Emirates.
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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.