After starting the 2025 season on a seven-game losing streak, the Atlanta Braves have finally won something: a 763K SF office park down the street from Truist Park.
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Braves Development Co., the real estate arm of Atlanta Braves Holdings, has acquired Pennant Park, a six-building office complex next door to The Battery Atlanta, it announced Wednesday.
The publicly traded baseball franchise purchased the 34-acre property at the intersection of Interstates 75 and 285 for approximately $93M from Rubenstein Partners, it disclosed in a regulatory filing.
The move gives the Braves not only ownership of the office complex but also nearly 2,700 parking spots less than a mile down Windy Ridge Parkway from their stadium in Cobb County.
“Acquiring this adjacent property expands our footprint and positions us to capitalize on the interest we continue to see in The Battery Atlanta,” Braves Development CEO Mike Plant said in a statement. “Additionally, this will provide expanded parking for the approximately 9 million people who visit us each year.”
The office buildings are about 80% occupied by 24 tenants, including Home Depot. It is unclear what plans, if any, the Braves have for the project outside of collecting rents and utilizing the additional parking for visitors to The Battery.
The purchase expands the team’s commercial real estate holdings to 3M SF and increases its owned land footprint by 30%.
Pennant Park includes a four-building complex — two of which are fully leased to Home Depot — along Interstate North Parkway called Pennant Commons. The Braves also acquired Pennant View, two six-story buildings at 3100 Interstate Circle North and 210 Interstate North Parkway that total 286K SF.
Pennant View also includes a structured parking deck and surface parking with 970 spaces.
“Pennant View’s expansive site provides future opportunities for site densification, driven by the rapidly urbanizing trajectory of the area,” the press release says.
Rubenstein bought Pennant Park in 2016 for $87M, a year before the Braves opened Truist Park. The portfolio at the time spanned 11 buildings and nearly 1M SF. A Rubenstein spokesperson told Bisnow the firm previously sold the five other buildings it bought at the time but didn't offer further details.
The holdings complement The Battery Atlanta, a 1.8M SF mixed-use development the Braves built next to the ballpark that has served as a model for other pro sports franchises' real estate ambitions.
