The property housing Albuquerque’s Topgolf location sold below the list price last month to a Nevada-based limited liability corporation, according to the broker representing the buyer.
Ami Meng, transaction manager for real estate brokerage Marcus & Millichap, told the Journal 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. The pair were listed as managers of several other Nevada limited liability corporations, according to the state agency.
Meng said the property sold for just over $15.3 million after being listed on the real estate website LoopNet in September for $16 million. The sale was finalized Oct. 21, Meng said.
Topgolf’s first New Mexico location opened at 1600 Desert Surf Circle NE in February. The Texas-based company operates climate-controlled sports entertainment complexes where customers play a variety of games using micro-chipped golf balls.
A package of city and county incentives totaling $4.3 million helped support the development. Albuquerque Mayor Tim Keller vetoed the city’s incentive package before the City Council overrode the veto in August 2018, according to previous Journal reporting.