780 Logan AveRenton, WA 98057

For Sale
Call for price

Renton, WA: High-growth area, 18.8-year lease.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a fee-simple ownership interest in a 74,025-square-foot Topgolf entertainment complex situated on 10.54 acres in Renton, Washington. Located at 780 Logan Ave N, 98057, this property enjoys a prime location less than two minutes from Interstate 405, providing easy access to major transportation arteries. The property benefits from its proximity to significant regional attractions, including Boeing's Renton manufacturing plant, the Seattle Seahawks headquarters, and The Renton Landing Shopping Center. Built in 2022, this single-tenant property boasts 100% occupancy under an absolute NNN lease with a credit-rated, corporate-guaranteed tenant. The lease has a remaining term of 18.8 years and includes rent bumps. Topgolf, a publicly traded company, provides a high-profile, stable tenant with a strong credit rating. Renton's rapid growth, coupled with the property's strategic location and the tenant's financial strength, makes this a compelling investment opportunity. The property's size and modern construction, combined with the long-term lease and rent escalations, offer significant potential for appreciation and strong cash flow. Washington State's lack of state income tax further enhances the investment's attractiveness. This is a rare chance to acquire a premier, generational asset in a thriving market.

Highlights

  • Trophy NNN investment property in Renton, WA; the only Topgolf in Washington State.
  • Topgolf International, Inc. provides a corporate guarantee on the lease.
  • Investment-grade tenant (MODG, NYSE) with a B+ S&P credit rating.
  • Located in a high-growth area of Renton, WA, with significant residential development underway.
  • Significant cost segregation and depreciation benefits, estimated at over $10M in the first five years.
  • State-of-the-art, large-format Topgolf facility, a premier corporate event venue.

Property Details for 780 Logan Ave

Property type
Golf courses & driving ranges, Other specialty properties
Square Feet
74,025 SF
Year Built
2022
Lot Size (sq. ft)
459,122 SF

Location Insight

City
Renton
County
King
State
Washington
Latitude
47.49488358806
Longitude
-122.20704492885
780 Logan Ave, Renton, Washington

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780 Logan Ave
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