The two properties were holdings of Family Golf Co. The 138,000 New Roc City center includes two skating rinks, a 50,000 sf arcade and ride center, a restaurant and a billiards pub. The center in Lake Grove, was Family Golf's flagship property and is a free-standing 169,000 sf facility that includes an ice skating rink, a 48-lane bowling center, a 55,000 sf game and ride arcade, a restaurant and meeting space.
In conjunction with the acquisition, Cappelli officials say that Bill Reitzig, who served Family Golf as a senior vice president and president and chief executive officer of its Entertainment Division, has joined Cappelli to oversee the operation of the two facilities. Louis R. Cappelli, president of Cappelli Enterprises, says, "Each property offers us solid business opportunities. The acquisition provides an excellent set of new assets acquired at a highly favorable price."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.