OVERVIEW
Top Golf’s selection criteria ensured that the next DFW location was a low risk, high-impact location that would provide an opportunity for the company to expand the power of the TopGolf brand in new markets throughout the metroplex. The team identified and reviewed over 15 locations within DFW, highlighting the qualities of each location and market that were significant, and met selection criteria.
The team culled through thousands of market details and statistics as well as demographics and psychographics that could impact the brand awareness. Much of the data that had contributed to a successful location selection in Allen, Texas applied to The Colony site. Specifically, the team noted that over 25% of Allen residents had visited the facility within eight months of opening and that that number has risen significantly.
Alternatively, there was the issue of resolving the cannibalization between the two other existing stores [Allen and Dallas proper] as those two locations could be easy enough to avoid by adding more distance between sites. However, the superb demographic qualities of the North Dallas suburbs were difficult to ignore. The TRC, TopGolf and City teams worked together expeditiously to create a planned development and zoning designation that allowed TopGolf’s use-by-right.
The city provided extremely attractive additional incentives because they recognized TopGolf’s contribution to the community. It was as much a development deal as it was a brokerage deal. The team was not backfilling a box and the concept does not fit cleanly into any existing zoning, so it took a creative, team approach to address all the issues along the way.
The Retail’s Connection keen sense of the market and surrounding demographics combined with the collaborative spirit of the city, made the new TopGolf in The Colony a resounding success. Upon the opening of TopGolf in The Colony in November of 2013, after a nine month construction process, it is a gem in TopGolf’s crown.
This location is a high achiever in daily revenue with a healthy balance of corporate sales in tandem with walk-in traffic. TopGolf received millions of impressions as a result of incredible publicity generated in partnership with the city.
OPPORTUNITIES | CHALLENGES
This project was a significant challenge that became a unique opportunity. In the process of negotiating another location [almost to completion] TopGolf hired a new Director of Real Estate. As a result, a strategic decision was made that altered the course of the project, and focused entirely on securing a location within the North Dallas suburbs for operational and demographic consistency.
The search was then narrowed down to a stretch of the 121 Corridor, where a previous deal of the year, Nebraska Furniture Mart, had decided to locate. It was obvious this was a powerful corridor. All preferences aside, the numbers were compelling to lead the focus to a location along the Dallas North Tollway or the 121 Corridor, both with significant merit.
The city acknowledged the value of a TopGolf within their boundary as an economic driver and significant amenity long-term—and proceeded to build a large retail infrastructure with an entertainment focus. The Colony was the best choice in that they delivered a hard-to-refuse incentive package, and provided the intangible benefit of speed to market.
RESULTS
Economic Impact:
- Construction Expenditure $17+ Million Construction Project
- Construction Annual Economic Output 262 Jobs Created
- Operating Annual Economic Output 403 Jobs Created
- Ten Year Total Fiscal Impact $31.6 MM
- Local Impact Ten Year Total Economic Output $264.5 Million
- State Impact Ten Year Total Economic Output $305.4 Million