Topgolf | Top Ranked Venue | Piedmont Triad Region
20-Year Absolute NNN Lease | 10% Rent Bumps | Rare Corporate Guaranty
Marketing description
Trinity Partners is proud to serve as exclusive advisor to the Developer (“RealtyLink”) and present this net lease Topgolf investment opportunity in Greensboro, NC. A Topgolf Callaway Brands Corp. (NYSE: MODG) brand, Topgolf is the ultimate instigator of play with 115 operating and coming-soon venues in 13 countries. Powered by industry-leading Toptracer technology, they’re leading the charge of modern golf. (“Property”)
The Property consists of a 2-story, 42,240 SF venue with 70+ all-weather bays, 200+ HDTVs, a rooftop terrace, and 350 parking spaces on 10.40 acres in the southeast quadrant of Guilford College Rd and Bridford Pkwy. There’s a full-access signalized entrance on Guilford College Rd and right-in/right-out access on Bridford Pkwy. Topgolf executed a 20-year NNN lease that commenced in September 2024 with six 5-year renewal options and 10% rent bumps every 5 years. The lease includes a full-term guaranty from Topgolf International, Inc.
The Property is well located within the Piedmont Triad region (1.6M+ population) on the west side of Greensboro (3rd largest metro in NC) at the intersection of I-40 and Guilford College Rd. The I-40/I-840 loop interchange is one exit up, and the entrance to Piedmont Triad International Airport (2M+ passengers annually) is 10 minutes away. Topgolf Greensboro is the premier entertainment destination in the Triad region.
Investment highlights
- NEW CONSTRUCTION: 2024 world class construction by Topgolf’s exclusive and award-winning design-build contractor, ARCO/Murray
- LONG TERM NET LEASE: 20-Year absolute NNN lease with several 5-year renewal options
- RENTAL INCREASES: 10% rent bumps every 5 years including each option period
- STRONG GUARANTOR: Extremely rare and valuable Topgolf International, Inc. guaranty for entire lease term
- POPULAR VENUE: 602K+ visits since opening mid-September ranking the venue in the top 35 chainwide (Placer.ai)
- DENSE RESIDENTIAL BASE: 1,680+ apartment units over 91% leased in the immediate vicinity of the venue (Costar)
- DENSE COMMERCIAL AREA: 8+ million SF of retail over 95% leased and 35+ million SF of office/industrial over 93.5% leased in the immediate trade area (Costar)
- INTERNATIONAL AIRPORT: The Piedmont Triad Airport, with 30,000+ employees and nearly 2 million annual passengers, is 10 minutes away and has a $9 billion impact on the local economy
- CAN’T MISS LOCATION: Maximized exposure with high visibility and convenient accessibility from multiple commercial corridors
- COMPLIMENTARY CO-TENANTS: High traffic generating co-tenants including Main Event, Circle K and StudioRes by Marriott with pending deals with additional national retailers
- HIGH TRAFFIC COUNTS: 18,000+ VPD on Guilford College Rd and 113,000+ VPD on I-40
- DENSELY POPULATED: 148,300+ residents in a 5-mile radius and 283,800+ in a 15-minute drive time (Esri)
- STRONG SUPPORTING INCOMES: $102,400+ average HH income and $71,800+ median HH income within a 5-mile radius (Esri)
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