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Sale of the Week: Topgolf in Omaha, Neb.

Image courtesy of Hanley Investment Group

A single-tenant triple-net-leased investment property occupied by Topgolf sold for $7.67M in Omaha. Hanley Investment Group Real Estate Advisors arranged the sale of the building, which houses the only Topgolf location in Nebraska. Hanley Investment Group’s EVP Jeff Lefko and EVP Bill Asher represented the seller and developer, a private investor based in Omaha. The buyer, a private investor based in the Houston metro, was represented by Wadhwani Holdings.

Property Type: A Single-Tenant Property Leased by Topgolf in Omaha, Neb.
Price: $7.67M
Buyer: A Private Investor

The Topgolf-occupied property is adjacent to Interstate 680, which sees 112,000 cars per day, and Route 6/West Dodge Road, which boasts117,000 cars per day. It also neighbors Chipotle Mexican Grill Drive-Thru, X-Golf American and a future nine-acre Class A mixed-use development. The 24,496-s.f. Topgolf building was constructed in 2020 and sits on 10.16 acres.

“We procured an all-cash 1031 exchange buyer and negotiated a 21-day due diligence period to help fulfill the buyer’s timing requirement,” said Lefko. “Situated in the heart of the region’s highest-performing retail corridors, the newly constructed Topgolf ground lease provided the buyer with a generational asset and a ‘covered land play’ at the intersection of Nebraska’s most heavily trafficked freeway interchange (237,000 cars per day).”

The Omaha Topgolf facility features 72 climate-controlled hitting bays, a full-service restaurant with an executive chef, bars, private event space, a rooftop terrace and over 200 HDTVs throughout the facility showing a variety of sporting events.

In February 2023, on behalf of the seller, Lefko and Asher brokered the sale of the two-tenant retail investment occupied by Chipotle and X-Golf adjacent to the Omaha Topgolf. Hanley Investment Group procured an all-cash 1031 exchange buyer based in Colorado. Prior to this, Lefko and Asher, in association with ParaSell, Inc., facilitated the sale of brand new Topgolf in Albuquerque, N.M., situated on 14.70 acres. This deal achieved a record-low cap rate in the fall of 2021.

Currently, Lefko and Asher are marketing two new construction Topgolf locations for sale, one in St. Petersburg, Fla., and the other in Meridian, Idaho.

Hanley Investment Group Real Estate Advisors
3500 E. Coast Highway, Suite 100
Corona Del Mar, CA 92625
Jeff Lefko, EVP
(949) 585-7682
jlefko@hanleyinvestment.com

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