The Federal Deposit Insurance Corporation (FDIC) recently selected Compass Auctions & Real Estate, an auction and real estate firm headquartered in Chattanooga, to list and sell a real estate portfolio in the Metro and Southern Atlanta area totaling nearly $20 Million. The highlight of this particular group of properties is 40 parcels adjacent to Turner Field Stadium.
The 40 parcels equal 4.67 acres, and are located between Hank Aaron Drive SE and Georgia Avenue SE in the Atlanta metro area of Fulton County, Ga. Since 1997, the Atlanta Braves have been using the Turner Field ballpark as their home field. In November 2013, they announced the intent to depart for a newly built ballpark located in Cobb County, Ga. The Braves will play their final regular season home game at Turner Field on October 2, 2016.
With the announcement that the Turner Field area would likely go under significant change with the departure of the Braves, Atlanta Mayor Kasim Reed announced that the Turner Field stadium and the surrounding parking areas would be up for sale and redevelopment opportunities in late 2016. Several entities expressed interest, and in 2015, the Atlanta Fulton County Recreation Authority announced that Georgia State University and a local development company had placed the winning bid for Turner Field.
Compass Auctions & Real Estate will represent the FDIC in the sale of the remaining 40 parcels. The properties are zoned MRC-1-C, which stands for Mixed Residential Commercial District.
Compass provides traditional real estate and auction services for real property and industrial assets throughout the southeast. For more information regarding these assets, call (800) 729-6466, or visit www.SoldonCompass.com.
Source: Compass Auctions & Real Estate