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Augusta National Buys a Shopping Center

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iacas Hall of Fame Member

iacas

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AR-200609583.jpg

6554b6be8c0d829a8bf63ae0c82cf121_link.pn Augusta National Golf Club buys National Hills shopping center

The Augusta National has picked up $28 million worth of real estate this spring.
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The Augusta National Golf Club has acquired the National Hills shopping center for $26 million, making it the club’s priciest single real estate purchase to date.

The April 13 purchase of the shopping center – which sits across Washington Road from the club’s northwest boundary – was preceded by the March 27 acquisition of five former home tracts in the Jamestown neighborhood on the club’s southwest side for $2.2 million.

More parking? 🙂

Erik J. Barzeski — ⛳ I knock a ball. It goes in a gopher hole. 🏌🏼‍♂️
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paperclip Well Established Member

paperclip

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That's my guess; a parking lot for 2 weeks of the year and the other 50 weeks has rental income from the stores to carry it.

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iacas Hall of Fame Member

iacas

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4 hours ago, paperclip said:

That's my guess; a parking lot for 2 weeks of the year and the other 50 weeks has rental income from the stores to carry it.

I think the stores are goners.

Erik J. Barzeski — ⛳ I knock a ball. It goes in a gopher hole. 🏌🏼‍♂️
Director of Instruction Golf Evolution • Owner, The Sand Trap .com • Author, Lowest Score Wins
Golf Digest "Best Young Teachers in America" 2016-17 & "Best in State" 2017-20 • WNY Section PGA Teacher of the Year 2019 :edel: :true_linkswear:

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billchao Incredible Member

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23 minutes ago, iacas said:

I think the stores are goners.

They're still going to have to honor the lease agreements already in place. If they're not going to renew, it might be years from now before they're gone.

Bill

“By three methods we may learn wisdom: First, by reflection, which is noblest; Second, by imitation, which is easiest; and third by experience, which is the bitterest.” - Confucius

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iacas Hall of Fame Member

iacas

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The lease agreements might be up soon, or have contingencies for a sold property, etc.

The buildings are goners. Maybe not by July, but at some point. I’d wager sooner rather than later.

Erik J. Barzeski — ⛳ I knock a ball. It goes in a gopher hole. 🏌🏼‍♂️
Director of Instruction Golf Evolution • Owner, The Sand Trap .com • Author, Lowest Score Wins
Golf Digest "Best Young Teachers in America" 2016-17 & "Best in State" 2017-20 • WNY Section PGA Teacher of the Year 2019 :edel: :true_linkswear:

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