X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TEMPE, AZ-Locally based Global Entertainment Corp. has sold its 4,300-seat, 161,000-square-foot events center in Wenatchee, WA to the Wenatchee Public Facilities District for $52.4 million. Town Toyota Center is one of a collection of multipurpose centers either just completed or under construction by Global Entertainment, which also owns the Central Hockey League.

The Wenatchee facility, which opened in October at 1300 Walla Walla Ave., is home to the Wenatchee Wild hockey club, which will take the ice in January. And while the dust settles on the Town Toyota Center transaction, two other arenas are currently under construction.

The 6,200-seat Allen Events Center at US Highway 75 and Stacey Road in Allen, TX; and the 5,800-seat Independence Events Center in Independence, MO, just east of Kansas City, broke ground during summer 2008. Both will be on line for the 2009-2010 hockey season.

According to Global Entertainment Corp. president Richard Kozuback, there will be more arenas to come, each going vertical at a cost of between $44 million and $55 million. “When we began the league in 1995, we went into existing facilities, but eventually ran out of facilities,” comments Kozuback, who says he’s finalizing papers on construction on another arena.

“We started this venture in building our own arenas, then putting our teams in the buildings,” he adds. “We build it, offer all the business related to it, and find a major tenant.”

He tells GlobeSt.com that likely areas for the arena require at least four acres for the building, then specs can vary from there. If a Global Entertainment arena were to be built in the middle of a cotton field, Kozuback says he likes to see an additional 12 to 14 acres available for parking.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.