Sarasota, Fla. — This week, The Pickleball Club announced the acquisition of a three-acre site in Fort Myers, Florida and the signing of a purchase agreement for a 5.5-acre site in Venice, Florida.
The Pickleball Club currently has four sites under development, including the Lakewood Ranch club, which is scheduled to open in January 2023. Earlier this month, the company announced its sixth site under contract in The Villages in Sumter County.
“As part of our overall strategy to be first-to-market in each of Florida’s key population centers, securing locations in Fort Myers and Venice secures our status as the prime mover and dominant competitor in Southwest Florida,” said Matt Gordon, co-founder and CFO of The Pickleball Club. “We expect to soon announce our second location in Southeast Florida.”
Construction on the Fort Myers location is slated to begin in the second quarter of 2023, with an anticipated opening in 2024.
The Pickleball Club’s strategic plan is to deploy over $180 million to build at least 15 private indoor pickleball clubs throughout Florida. The company is a privately-owned, for-profit business, focused on meeting the unprecedented demand for indoor amenity-based pickleball facilities. In addition to the Lakewood Ranch, Fort Myers and Venice locations, the company has locations in Port St. Lucie, Bonita Springs and The Villages in its development portfolio.
“In most industries scale matters, this applies to both the company and the size of each club,” said Brian McCarthy, founder and CEO of The Pickleball Club. “With six clubs in the company’s development pipeline and each club with 12 to 16 indoor pickleball courts, our scale allows us to invest in innovative and dedicated programming and technology to enhance our members’ experience. With over 100 pickleball courts under development, The Pickleball Club will operate more indoor pickleball courts than any other group in the United States.”
The Pickleball Club has reported strong investor support for their growth plans.
“We have recently signed term sheets for over $18 million in construction and permanent debt in support of our Port St. Lucie and Bonita Springs club developments,” said Gordon. “We have also raised over $10 million in equity capital from individual investors and family offices. This allows us the balance sheet strength and confidence to move forward in executing our near-term plan to open 15 private clubs in Florida.”
The Pickleball Club is currently in their C round of equity financing, which they expect to complete before year’s end.
About The Pickleball Club LLC
The Pickleball Club, founded in 2021 by commercial real estate and business entrepreneurs Brian and Valerie McCarthy and their business partner Matthew Gordon, is a firm that owns and operates membership-based indoor pickleball facilities throughout Florida.
The Pickleball Club’s strategy is to take advantage of the significant unmet demand for a quality indoor sports experience dedicated to pickleball. Each of the company’s clubs are designed to be approximately 34,000 square feet with 12 indoor pickleball courts, multiple outdoor courts, an outdoor activity center, pro shop, Pickles Café and luxurious locker room facilities.
The first club near Lakewood Ranch is currently under construction with plans to open in 2023, and five more are in development in Port Saint Lucie, Fort Myers, Bonita Springs, Venice and The Villages. The Pickleball Club has 15 clubs planned across the state of Florida in the next five years. For more information, visit ThePickleballClub.us.
For more information, please contact: