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Anatomy of a Lease: PopStroke Entertainment in Scottsdale, Ariz.

PopStroke signed a 15-year NNN ground lease in early May for an outparcel pad that is a part of the Pavilions at Talking Stick, a shopping center in the heart of the Talking Stick Entertainment District in Scottsdale. The mini-golf putting venue, which will consist of two 18-hole courses, as well as a restaurant and bar, is expected to open by the fall of 2022.

Tenant: PopStroke Entertainment

Location: Scottsdale, Ariz.

Square Footage: Approximately 3.5 acres

Property Type: Large Outparcel Pad in an Open-Air Shopping Center

Owners: De Rito Partners Development Inc. and PCCP

Initial Term: 15-Year NNN Ground Lease

The PopStroke real estate team found the standalone pad location to be ideal as it is visible from a nearby freeway and it is surrounded by other attractions. For example, The Talking Stick Resort and Casino is one mile west, Topgolf is located to the east, the Salt River Fields Diamondbacks/Rockies spring training facility is located immediately north and an iFly indoor skydiving venue is just south. In addition, within a mile and a half of the site is a Great Wolf Lodge, featuring an indoor water park and a Medieval Times Dinner & Tournament venue. The pad site itself is situated between a Staybridge Suites and a Comfort Suites and the shopping mall features a RoadHouse Cinema, The Home Depot and a Conn’s HomePlus in the vicinity.

The mini-golf brand, co-founded by pro golfer Tiger Woods, was very interested in opening a location in the Scottsdale market as it is a high-growth mode area with a large base of families, retirees and tourism, and its warm climate is expected to attract year-round customers to the outdoor venue. Tiger Woods will use the services of his own award-winning design team, TGR Design, to develop the mini-golf courses. Expect to see additional PopStroke Entertainment venues popping up in more high-growth, mild climate areas throughout the South, the Southeast and the Southwest, especially throughout Florida and Texas.

Tenant Representation: Kidder Mathews, 2525 E. Camelback Road, Suite 210, Phoenix, AZ 85016. 

Chris Corso, VP, (602) 513-5179. chris.corso@kidder.com

Property Representation: De Rito Partners, 9120 E. Talking Stick Way, Suite E1, Scottsdale, AZ 85250. 

Paul Serafin, Retail Leasing, Sales, (602) 553-2943. paul.serafin@derito.com

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Linda Frabl

Frabl is the former editor and reporter of Crittenden’s Retail Tenants Report. She has several years of experience in publishing including stints as a freelance writer, managing editor, copy editor and as an editor-in-chief for two Los Angeles County-based lifestyle magazines. She has worked for Crittenden Research since 2018. She has a degree in English from the University of California, Santa Barbara, and resides in San Diego.

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