Atlanta Braves Holdings acquires six-building ‘Pennant Park’ office complex adjacent to The Battery Atlanta
Atlanta Braves Holdings, Inc. (Nasdaq: BATRA, BATRK) announced that its real estate arm, Braves Development Company, has acquired Pennant Park, a six-building office complex totaling 763,465 square feet, located next to The Battery Atlanta at the intersection of I-75 and I-285.
Pennant Park, previously owned by Rubenstein Partners, spans approximately 34 acres and includes over 2,700 parking spaces. The property is home to 24 tenants, including anchor tenant The Home Depot, and currently has an occupancy rate of over 80%. The acquisition expands the company’s real estate footprint by more than 30% and is expected to be immediately accretive.
“This represents a strategic step in the growth of our real estate portfolio and creates a significant opportunity for Atlanta Braves Holdings to enhance the tenant experience while investing in the future of our growing community at The Battery Atlanta,” said Mike Plant, President and CEO of Braves Development Company.
The complex is divided into two components:
*Pennant Commons* includes four buildings (320, 340, 360, and 380) on 17 acres with a communal plaza called The Quad. Buildings 320 and 340 are fully leased to The Home Depot, while 360 and 380 are multi-tenanted.
*Pennant View* comprises two six-story buildings (210 and 3100), also on 17 acres, featuring upgraded lobbies and providing potential for future site development.
Amenities at the property include two fitness centers, cafés, a 48-person conference center, game courts, a jogging trail, and a Cobb Community Transit stop. The acquisition increases Atlanta Braves Holdings’ total available leasable office space to more than 3 million square feet.