Topgolf has returned to the redevelopment plans for Everett Mall yet again, joining a growing list of tenants at the shopping center.
Earlier this year, Brixton Capital removed Topgolf from its plans to redevelop the 490,949-square-foot property into an open-air shopping mall, now named The Hub @ Everett, according to The Puget Sound Business Journal.
Last week, both sides announced that negotiations to bring Topgolf back into the fold are underway at the shopping center located at 1402 SE Everett Mall Way.
“We remain excited and committed to bring our high-energy, technology-enabled golf entertainment experience to The Hub @ Everett,” Topgolf senior director of real estate Matt Smith said in a news release obtained by The Puget Sound Business Journal.
Topgolf’s return comes after concerns over the company’s financial health
In 2017, Brixton Capital purchased the mall for $36 million and had preliminary plans to have Topgolf be its anchor tenant, filling a 68,000-square-foot space consisting of three stories and an 11-acre driving range.
In May, Everett’s Economic Development Director Dan Eernissee said that the city “may have dodged a bullet with Topgolf” after Callaway Golf divested a 60% stake in Topgolf to Leonard Green & Partners.
“They are struggling financially across the nation, and while the new ownership may eventually figure out a profitable expansion model, I doubt it will be on the scale that was proposed in Everett,” Eernissee previously told The Puget Sound Business Journal.
In its place, Arizona-based Alliance Residential Co. had plans for the Topgolf site to be used for a mixed-use apartment development before Brixton reverted to its original plan to include Topgolf in the redevelopment.
“Our Brixton team believes that creating a successful community gathering place means curating an incredible mix of retail shops, restaurants and entertainment options, but it also means helping spur job creation opportunities that support the local community,” said Eric Li, Brixton managing director of retail leasing, in a release obtained by The Puget Sound Business Journal.
Both companies anticipate releasing additional details on the negotiations and project timeline later this year.
2 more national retailers sign on as Everett Mall redevelopment takes shape
Aside from Topgolf, two other national retailers joined the mall’s redevelopment plan: Shake Shack and Boot Barn.
Shake Shack signed a lease for a 3,475-square-foot corner space near Old Navy, marking Shake Shack’s first location in Everett.
Boot Barn is slated to take over a 20,028-square-foot space that is currently vacant after At Home filed for bankruptcy earlier this year.
“Major retailers and entertainment destinations see what we see: South Everett is an in-demand area with significant opportunities for continued investment and growth,” Everett Mayor Cassie Franklin said in a statement to The Puget Sound Business Journal. “These projects will strengthen our local economy while creating more great places for our community to shop, dine, gather, and have fun.”
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