Topgolf property in Fort Myers sells for $38M

Writer: adam.regan
Published: Updated:
File: Topgolf location. Credit: Topgolf

The land on which Topgolf sits in Fort Myers sold for the second time in 18 months in a $38 million deal. Win Chevrolet Properties, which recently relocated from Carson, California, to Sarasota, purchased the 48,000-square-foot triple-net-leased retail and entertainment location off Colonial Boulevard just west of Interstate 75 from Sideways Properties.

Marcus & Millichap commercial real estate brokerage represented Sideways Properties, which along with Bowery Fort Myers LLC, paid $32.3 million in March 2022 for the 14-acre property. Dallas-based Topgolf, which opened the Fort Myers location in November 2021, has 18 years remaining on its lease, which comes with a 10% rental increase every five years during the base term and each of the four- to five-year option periods, Marcus & Millichap officials said.

“Experiential retail has rebounded from the pandemic, and this Topgolf location is bustling with activity,” said Gabriel Britti, senior managing director of investments at Marcus & Millichap.

Topgolf opens in Fort Myers. (Credit: David Dorsey, Gulfshore Business)

Sideways Properties put the location on the market for $40.9 million in April.

Topgolf has 36 golf bays on the second floor and 36 on the ground floor. There’s a 215-yard driving range with netting up to 175 feet high.

Sarasota-based SVN Commercial Advisors represented Win Chevrolet.

Fort Myers FL Landlord LLC bought the land for $4.9 million in December 2019 before developing it into how it appears today.

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