Topgolf real estate buyer, sales price published

by | Nov 9, 2021 | Golf Balls

An aerial view of Albuquerque’s top golf course at 1600 Desert Surf Circle NE. (Roberto E. Rosales / Journal)

The property, which is Albuquerque’s Topgolf location, was sold below listing last month to a Nevada-based limited liability company, according to the agent representing the buyer.

Ami Meng, transaction manager for real estate brokerage firm Marcus & Millichap, told the Journal the property was sold to a company called TG Albuquerque LLC in October.

The company is registered at 9811 W. Charleston Blvd. in Las Vegas, Nevada, with Michael Wang-Lu and Frank Wang-Lu as managers, according to the Secretary of State of Nevada. The couple have been listed as managers of several other Nevada limited liability companies, according to the state agency.

Meng said the property sold for just over $ 15.3 million after it was listed for $ 16 million on real estate website LoopNet in September. The sale closed on October 21, Meng said.

Topgolf’s first location in New Mexico opened in February at 1600 Desert Surf Circle NE. The Texas-based company operates air-conditioned sports entertainment complexes where customers use microchip golf balls to play a variety of games.

A package of incentives for cities and counties totaling US $ 4.3 million supported the development. Albuquerque Mayor Tim Keller vetoed the city’s incentive package before the city council lifted the veto in August 2018, according to previous journal reports.

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