Updated 9/26 to include additional information
Topgolf Germantown is now under new ownership, according to a Washington Business Journal report.
The Germantown Topgolf property was listed back in July by Frederick-based Matan Cos. for just under $26 million and though details for the sales price are not currently available, it did make its listing price (a little over $25.5 million) in the sale to a California developer.
The sale doesn’t put the location in danger of closing, as Topgolf has sold many locations that have continued to successfully operate recently. The Doral, Florida property sold for $41.86 million in early summer, according to the South Florida Business Journal, and a location in Richmond, Virginia sold for $32.3 million earlier this year, Richmond BizSense reported.
Germantown also ranks 15th out of 55 Topgolf locations for traffic, according to the Business Journals report.
The location is owned and operated by Calloway Golf Co., which merged with (acquired) Topgolf Entertainment Group in a deal that was announced in October of 2020.
According to Biz Journals, the land that goes with the Germantown Topgolf acquisition is zoned to allow for more than 1 million square feet of dense development, including office, restaurants, hotels and multifamily, which made it an even more attractive deal for the California investor.
I was thrilled and frankly amazed that Topgolf even considered MoCo, given our “friendly” business environment. That said, I find it more amazing that the Germantown location ranks 15th in traffic, no doubt fueled by its location literally just off 270 and ease of egress into/leaving the parking lot.
To the new CA owners- don’t change a thing: the staff is friendly and helpful, food is great and generous and the reservation system is a breeze. I have loved each time I’ve patroned Topgolf Germantown.
To Executive Elrich and the Do-Nothing Economic Development Team- THIS is how you attract a large, high-end entertainment venue to the county and KEEP it here. Please document what was done to attract Topgolf to Germantown so that it becomes the playbook to attract employers of all types to setup shop and generate jobs in MoCo. Any plans to bring an indoor ski slop like Fairfax County is doing?