Home Business Atlanta Braves Holdings, Inc. Buys Pennant Park

Atlanta Braves Holdings, Inc. Buys Pennant Park

Atlanta Braves Holdings, Inc. announced today that the Braves Development Company has acquired Pennant Park, a prominent six-building office complex located strategically at the intersection of I-75 and I-285, adjacent to The Battery Atlanta. Previously owned by Rubenstein Partners since 2017, the sprawling 34-acre Pennant Park offers approximately 763,465 square feet of office space and 2,699 parking spaces, making the $93 million purchase an ideal expansion for the Braves’ growing real estate portfolio.

Strategic Expansion at The Battery

Mike Plant, President & CEO of Braves Development Company, described the acquisition as a key move to enhance the experience for tenants and visitors alike, thanks to its proximity to The Battery Atlanta and Truist Park. “This expands our footprint, allowing us to capitalize on growing interest and providing additional parking for the nearly 9 million visitors we welcome each year,” Plant said.

Currently, Pennant Park enjoys strong occupancy rates, hosting major tenants such as The Home Depot, which occupies two of its buildings. The complex is divided into two main sections, Pennant Commons and Pennant View, each offering extensive amenities including fitness centers, cafés, multimedia lobbies, and recreational facilities like a putting green, bocce ball court, and jogging trails.

Pennant Park is located just a half-mile from the Braves’ home stadium, separated by Interstate 75 but connected by Windy Ridge Parkway and the adjacent pedestrian bridge. Most buildings at Pennant Park were constructed in the 1970s and 1980s and range from four to six stories in height. The acquisition does not include the adjacent building at 300 Interstate North Parkway, a 175,000-square-foot facility occupied by the Weather Channel and often visible from the interstate.

Potential NHL Connections?

The Braves’ acquisition has sparked renewed discussions regarding Atlanta’s potential return to NHL hockey. While the NHL has not officially initiated an expansion process, the city’s name frequently surfaces among possible future locations. Atlanta previously hosted two NHL teams: the Flames from 1972-1980, who moved to Calgary, and the Thrashers from 1999-2011, who relocated to Winnipeg.

Several groups in the region have publicly expressed interest in bringing NHL hockey back to Atlanta. Notably, the Alpharetta Sports & Entertainment Group, led by former NHL player Anson Carter, and a separate initiative led by billionaire Vernon Krause, have both proposed new arena developments.

However, the acquisition of Pennant Park does not immediately indicate plans for an NHL-sized arena at The Battery itself. Nonetheless, the increased real estate footprint and enhanced infrastructure could provide flexibility for future sports and entertainment ventures.

NHL Expansion Buzz

Despite the NHL Commissioner Gary Bettman stating expansion is not an immediate priority, interest continues to grow nationwide. Alongside Atlanta, Houston remains another frequently discussed candidate for a new NHL franchise.

A Forward-Looking Investment

The purchase of Pennant Park signifies Atlanta Braves Holdings’ continued dedication to expanding entertainment and sports opportunities at The Battery. While hockey enthusiasts in Atlanta may need to temper immediate expectations, this strategic real estate investment undeniably keeps doors open for future possibilities.