The Pellucid Perspective - April 2020 - 18

COMINGS
& GOINGS

10 Activities; Closeds edge out
Transactions 5 to 4

H

ello, friends.
Yes, we all missed Jim Nantz's dulcet tones and warm
greeting at the beginning of this year's Masters broadcast. I don't know what else we could have heard that would
have brought us back to where we want to be - playing golf.
We track course closings and transactions through a variety of sources, including Google Alerts. It's not difficult to scan
the list of articles and focus attention on what we need - has a
course closed for good, or has it sold, or the rare opening. However, these last 30 days have been different. The word "close"
and its variants proliferate due to local and state COVID-19
mandates. Weeding out what we look for is a bit like looking for
a golf ball in eight-inch rough.
This month's list is decidedly shorter than usual. It, too, is
likely affected by the virus. Pending transactions likely stalled.

Courses planning to close likely quashed the announcement.
We'll see post-pandemic if a rush of permanent shutdowns occurs. Stay tuned.
There are a couple to note. The International Golf Club
and Resort in Bolton, MA, closed suddenly blaming the virus.
What's strange is that one of its two courses is the longest in
the US, measuring 8375 yards from the tips. Seems there'd be
plenty of room for social distancing on that track.
The town of Altoona, IA, population about 18K, ponied up
$3.0 million for Terrace Hills GC. The course was valued at
$1.4M earlier in 2019. Makes sense, right? But proving that
golf can be a worthwhile investment, the family that bought
Katahdin Country Club in Milo, ME, for $2,500 in 1940 decided to shut it down. That's an 80 year run on an initial $2,500
stake. We wish the family well.

Golf's landscape changes
Event

Course

DMA

Type/Holes

Summary

Liverpool
G&CC

Syracuse NY

Pub/18

Hey paradise, put up a warehouse instead

Tanglewood
Greens

Menomonie WI

Pub/18

The first casualty of COVID-19? And, another
GolfNow casualty!

Katahdin CC

Bangor ME

L&P/9

Purchased by family for $2500 in 1940. Nice
run!

CNC Golf
Links

Green BayAppleton WI

L&P/9

Closing Oct. 2020

The International Golf
Club and
Resort

Boston MA
(Manchester
NH)

Priv/36

Another COVID-19 victim. Its RTJ course measures 8375 yards from the tips - longest in U.S. It
would seem that social distancing wouldn't be a
problem. Guess not.

The Republic
GC

San Antonio, TX Pub/18

Will close May 3 after sale closes. Blames
Alamo City Golf Trail for its demise

Copper Creek
GC

Des MoinesAmes IA

Pub/18

Valued at $961K, it was sold by developer to a
local group for $700K. Yes, copper can tarnish.

Terrace Hill
GC

Des MoinesAmes IA

Pub/18

Purchased by town of Altoona in Dec. 2019 for
$3.0M after valued in 2019 at $1.4M. Makes
sense, right?

Chimney
Rock GC

Denver CO

Pub/9

City asked $400K, local buyer got it and 50 additional acres for $250K.

Open/Re-open

Closed

Transact

18 The Pellucid Perspective

April 2020



The Pellucid Perspective - April 2020

Table of Contents for the Digital Edition of The Pellucid Perspective - April 2020

TOC
COVID, an unlikely golden opportunity for golf?
Golf operator’s dilemma: Shut down or soldier on?
A (semi) quantitative analysis of COVID’s full year impact
March favorability squandered...
Feb Utilization a solid up; Rounds gain beats favorable weather
Detroit, the indefatigable market faces down another challenge
10 Activities; Closeds edge out Transactions 5 to 4
The Pellucid Perspective - April 2020 - TOC
The Pellucid Perspective - April 2020 - COVID, an unlikely golden opportunity for golf?
The Pellucid Perspective - April 2020 - 3
The Pellucid Perspective - April 2020 - 4
The Pellucid Perspective - April 2020 - Golf operator’s dilemma: Shut down or soldier on?
The Pellucid Perspective - April 2020 - 6
The Pellucid Perspective - April 2020 - A (semi) quantitative analysis of COVID’s full year impact
The Pellucid Perspective - April 2020 - 8
The Pellucid Perspective - April 2020 - 9
The Pellucid Perspective - April 2020 - 10
The Pellucid Perspective - April 2020 - 11
The Pellucid Perspective - April 2020 - March favorability squandered...
The Pellucid Perspective - April 2020 - 13
The Pellucid Perspective - April 2020 - Feb Utilization a solid up; Rounds gain beats favorable weather
The Pellucid Perspective - April 2020 - 15
The Pellucid Perspective - April 2020 - Detroit, the indefatigable market faces down another challenge
The Pellucid Perspective - April 2020 - 17
The Pellucid Perspective - April 2020 - 10 Activities; Closeds edge out Transactions 5 to 4
The Pellucid Perspective - April 2020 - 19
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