The property housing Topgolf’s Albuquerque location is on the market, with a list price of $16 million.
The 14-arce parcel of land that houses the much-ballyhooed entertainment location along Interstate 25 is listed as being for sale on California-based Hanley Investment Group’s website. A listing for the property also appeared on commercial real estate website LoopNet.
A broker associated with the property confirmed that the property is for sale, but declined to comment further. Albuquerque Business First was first to report the news.
Topgolf opened its first New Mexico location, 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 supported by a $4.3 million incentive package from city and county governments, according to previous Journal reporting.
Albuquerque Mayor Tim Keller vetoed the city’s incentive package before the City Council overrode the veto in August 2018.
The listing notes that Topgolf invested around $16 million in improvements in the site, which reverts back to the landlord at the end of the 20-year lease. The Texas-based company hosted over 23 million visitors across its multi-state footprint and generated $1.1 billion in revenues in 2019, according to the listing.