The Pellucid Perspective - November 2024 - 13
Event
Course
Erie Golf Club
DMA
Erie PA
Type/Holes Summary
PUB/18
Millcreek Township selling due to economics,
getting ~$37K annual in rents against CapEx
and repairs of ~$160K and growing annually.
Township bought fm City of Erie in '09; any
proceeds will go in Parks & Rec vs. twnship
general fund. New buyer approved, Charles R.
Van Eeckeren Revocable Trust (principal is Exec.
at family-held Vanee Fds, Chicago); stated intent
is to restore the 1921 A.W. Tillinghast design
over a 4-yr period and continue operation as golf
course. Interestingly, reported price was $1.311M
against an asking price previously of $1.1M? Joint
listing GPA/Fairway Advisors (Jeff Davis, GPA did
appraisal/list price for $15K w/$9K retainer)
Transacted/For
Sale/Auction
Big Creek Golf &
Country Club
Julington Creek
Golf Club
Springfield MO PUB/18
New, local ownership group buys from previous
local owner group of 42 individuals. Developer
retains rights to surrounding real estate to
continue residential build-out
Jacksonville FL
Siena Golf Club Las Vegas NV
PUB/18
PUB/18
GreatLIFE Golf Club Management adds 55th (6
in FL) course to portfolio purchasing course for
$2.5M from City Center Wholesale (of PA?).
Purchased fm LA-based Siena GC LLC for $17M
by Siena Golf Holdings LLC (Vegas). Course
previously transacted in '00 for $7.6M; solid but
not spectacular return for '24 year Vegas real
estate holding (IMO). Follows previous $31M
sale in Vegas (Bear's Best) so price points in that
market are hefty!
Redevelopment
Lost Lake Golf
Club
Other
West Palm BeachFort
Pierce FL
PRIV/18
Will transition from semi-private to Private in
partnership with Capstone Hospitality to execute.
Both parties believe that facility/membership's full
potential has not been realized and that converting
to Private will unlock that potential/value. As
always promised, comes with " substantial
financial commitment in capital improvements to
both the clubhouse and golf course " (from new,
existing members or both?)
The National at Reynolds Lake Oconee, Greensboro, GA
www.PellucidcorP.com
The Pellucid PersPecTive
13
WWW.REYNOLDSLAKEOCONEE.COM/LIFE/GOLF/THE-NATIONAL
https://www.reynoldslakeoconee.com/life/golf/the-national
http://www.PellucidcorP.com
The Pellucid Perspective - November 2024
Table of Contents for the Digital Edition of The Pellucid Perspective - November 2024
TOC
Municipal golf being invited to the “owner’s party”
A look back at The First Tee’s “lifetime achievement”
10 Activities; “plants” & “plows” both represented this month
Oct GPH a modest up +2%, Year-to-Date treads water at -2%
Sep Utilization jumps 3 pts (rounds up, weather down), Year-to-Date improves to +2 pts
W Palm Beach FL debuts at #6 in new Market Strength ranking; still a Private golf mecca
The Pellucid Perspective - November 2024 - TOC
The Pellucid Perspective - November 2024 - Municipal golf being invited to the “owner’s party”
The Pellucid Perspective - November 2024 - 3
The Pellucid Perspective - November 2024 - 4
The Pellucid Perspective - November 2024 - 5
The Pellucid Perspective - November 2024 - 6
The Pellucid Perspective - November 2024 - 7
The Pellucid Perspective - November 2024 - A look back at The First Tee’s “lifetime achievement”
The Pellucid Perspective - November 2024 - 9
The Pellucid Perspective - November 2024 - 10
The Pellucid Perspective - November 2024 - 11
The Pellucid Perspective - November 2024 - 10 Activities; “plants” & “plows” both represented this month
The Pellucid Perspective - November 2024 - 13
The Pellucid Perspective - November 2024 - Oct GPH a modest up +2%, Year-to-Date treads water at -2%
The Pellucid Perspective - November 2024 - 15
The Pellucid Perspective - November 2024 - Sep Utilization jumps 3 pts (rounds up, weather down), Year-to-Date improves to +2 pts
The Pellucid Perspective - November 2024 - 17
The Pellucid Perspective - November 2024 - W Palm Beach FL debuts at #6 in new Market Strength ranking; still a Private golf mecca
The Pellucid Perspective - November 2024 - 19
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