CRANSTON – Topgolf Entertainment Group is moving forward on the development of a sports entertainment venue in Rhode Island, its first in New England, with site work on the Cranston location expected to begin in March 2021.
The location is 100 Sockanosset Cross Road, a site just north of Route 37. The venue will be constructed behind a former Citizens Bank operations building, part of which was converted to a COVID-19 field hospital this year. The site is largely a parking lot.
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Topgolf plans to build a 167,000-square-foot entertainment center, over three levels, at the location, as well as an enclosed 209,000-square-foot outfield. The facility will be served by a 450-space parking lot, according to a final master plan approved in July by the city.
The property, owned by the real estate development company Carpionato Group LLC, will be retained under its ownership and leased to Topgolf, according to Gregg Perry, a spokesman for the Johnston-based Carpionato.
Topgolf will build the facility once the Carpionato Group prepares the site. Topgolf already has applied for the required permits, Perry said. Construction is scheduled to begin once the site is prepared, in June 2021, and should be completed a year later.
Topgolf, which is based in Dallas, operates more than 60 entertainment centers that feature technology-infused golf activities and competitive games, according to its website. The closest full-service venue to New England is in Edison, N.J. Topgolf is well regarded as a site for corporate retreats, according to Perry, because the entertainment facility will include meeting rooms, private meeting space and restaurants under one roof.
Topgolf is expected to be purchased by Callaway Golf Co., according to recent reporting by the Wall Street Journal. Callaway, which is based in Carlsbad, Calif., already has a 14% ownership stake in the company, which it said will be purchased through an all-stock deal.
Other investors in Topgolf, the Journal reported, include the Providence-based Providence Equity Partners LLC. Callaway told the Wall Street Journal that Topgolf has a $2 billion valuation.
Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com.
