The sales represent two more in a long list of courses sold in recent weeks by the Leisure Investment Properties Group.
Trophy Club of Apalachee Is Latest American Golf Corp. Sale
The Dacula, Ga. property, with a golf course designed by Steve Melnyk that sees over 45,000 rounds annually, has been sold to an unnamed buyer described as “a Class-A PGA member and longtime golf-industry executive [with] years of operational experience.” The property was listed at $2.4 million and its sale is the latest of over…
The Crossing GC Sold to Company Headed by PGA Pro Brooks West
The Franklin, Tenn. club is the 13th sold by American Golf Corporation as part of the strategy by Drive Shack, American Golf’s parent, to divest as many as 25 properties to raise capital for the development of golf entertainment centers. West was formerly National Sales Manager for Yamaha Golf-Car Company.
Drive Shack Sells 11 Clubs for $82.5M
Rendering of Drive Shack’s Orlando facility, which opened in April 2018. The emerging competitor to Topgolf is selling all 26 of its American Golf-owned properties to generate nearly $175 million in capital to put toward development of new “eatertainment” facilities. Eight of the properties that were sold are in California; buyers were not disclosed.
Redevelopment Plans Put on Hold for West Palm Beach (Fla.) Municipal GC
The course was closed in September but scheduled to be part of a multimillion-dollar redevelopment project that would include a new clubhouse, boutique hotel, apartments, and a Topgolf franchise. But city commissioners voted to withdraw the original Request for Proposal and accept unsolicited bids from potential developers. Plans to redevelop the West Palm Beach (Fla.)…
City to Move Forward With Two Proposals for The Lakes at El Segundo
The El Segundo (Calif.) City Council will negotiate with Topgolf and Drive Shack to determine which proposal will be best to revive its ailing municipal golf course. Each proposal promises millions in investment, the addition of hundreds of year-round jobs, and base rent totaling as much as $70 million over a 50-year period. The El…
$29M Drive Shack Facility to be Built in New Orleans
The golf entertainment complex will be housed in the former Times-Picayune building, and is expected to open by the end of 2019. The 62,000-sq. ft. facility will include three levels with 90 driving bays facing a netted range outfitted with targets and ball tracking, a gaming lounge, corporate and group event space, a roof terrace…
Drive Shack Proposed for Former Times-Picayune Building
The proposed plan would demolish the newspaper’s previous building in New Orleans and build a three-story, 20,000-sq. ft. golf entertainment facility with a large outdoor driving area. The project is still in an exploratory stage, with details such as zoning still being ironed out. The Drive Shack golf facility under consideration for the former Times-Picayune…