Atlanta Braves Holdings Expands Real Estate Portfolio With Pennant Park Acquisition

(RTTNews) - Atlanta Braves Holdings, Inc. (BATRA) Wednesday announced the acquisition of Pennant Park, a 763,465-square-foot office complex adjacent to The Battery Atlanta.

Previously owned by Rubenstein Partners, the 34-acre property houses 24 tenants, including The Home Depot, with an 80 percent+ occupancy rate and 2,700+ parking spaces.

The purchase expands the Braves Development Company's footprint by over 30%, enhancing tenant experience and parking for the 9 million annual visitors to The Battery Atlanta. CEO Mike Plant emphasized the acquisition as a strategic growth step, aligning with the company's vision of integrating professional sports with real estate innovation.

Pennant Park is divided into two sections: Pennant Commons, which comprises four buildings featuring The Home Depot's leased offices, a communal plaza, and over 1,700 parking spaces, and Pennant View, consisting of two buildings with multimedia lobbies, 970+ parking spaces, and potential for future development.

Additional amenities include fitness centers, cafés, a tenant lounge, sports courts, a jogging trail, a helipad, and a transit stop. The acquisition reinforces Atlanta Braves Holdings' commitment to expanding its sports, entertainment, and real estate investments.

Wednesday, BATRA closed at $44.41, up 1.65%, and is currently trading after hours at $44.40, down 0.02%, on the Nasdaq Global Select Market.