CUSHMAN & WAKEFIELD | CRESCO Closes On Topgolf. Scores Deal For Independence, Regional Attraction

CLEVELAND (October 11, 2018) – Simon Caplan of Cushman & Wakefield | CRESCO represented the seller of the high profile 16-acre site located at the interchange of I-77 and I-480 in Independence, Ohio to deliver Topgolf’s already-announced Cleveland-area location.

“This is among the most coveted land assets in the region. We needed to make sure we found the right buyer that could generate the most impact for the City of Independence and region,” said Cushman & Wakefield | CRESCO’s Simon Caplan. “Topgolf’s high-quality and popular golf experience will generate a lot of traffic and interest to an already-coveted area. The City of Independence and our sellers worked hard to make this a reality.”

Topgolf selected the nearly 16-acre site to build their successful concept: a three-sided building housing more than 100 suite-like golfing range suites. The fourth side of the Topgolf site is a golf range. Visitors to the suites socialize and play Topgolf’s games from their climate-controlled suites, with full food and bar service.

The City of Independence played a crucial role landing the premier buyer in Topgolf, committing to infrastructure to extend Rockside Woods to serve the property and generate additional development opportunities nearby. That new development and additional traffic to nearby businesses and hotel stays more than warranted incentives used to transform the site.

“We worked with Simon, Cushman & Wakefield | CRESCO, City Council, Topgolf and others to transform this piece of vacant land into a premier entertainment facility that will provide 500 full and part-time jobs, $5 million in new payroll, and a destination for people all over the region,” said Independence Mayor Anthony Togliatti. “Its presence here will serve our families and corporate citizens alike with entertainment options that no one else in the region has. With Topgolf as an anchor, this part of the Rockside Road Business District will become a destination sought out by other businesses looking to locate to Independence.”

About Cushman & Wakefield | CRESCO Real Estate

Cushman & Wakefield | CRESCO Real Estate is Greater Cleveland’s leader in commercial real estate. CRESCO is an independently owned and operated member of the Cushman & Wakefield Alliance. Their scope of services includes: the sale and lease of commercial, industrial, retail and office properties, land acquisition and development, site selection and build-to-suit, property valuation, property management, consulting services, corporate services and tenant/landlord/ buyer/seller representation. To learn more, visit http://cresco.vmshares.com. Follow @CRESCO_RE on Twitter.

FOR FURTHER INFORMATION, CONTACT:

Nathan Kelly

Cushman & Wakefield | CRESCO

(216) 525-1483

[email protected]