THE TERMINUS

Compass Real Estate lists Turner Field Parcels on Behalf of FDIC

Compass Real Estate Lists Turner Field Parcels on Behalf of FDIC

 

Compass Real Estate has once again been selected by the FDIC to sell one of the largest assets in a recent portfolio in the Atlanta area located just outside Turner Field.

The subject is 40 parcels of land equating to 203,629 square feet or 4.67 acres located between Hank Aaron Drive SE and Georgia Avenue SE in Atlanta, Fulton County, Georgia.  Turner Field has served as the home ballpark for the MLB Atlanta Braves since 1997. In November of 2013, the Atlanta Braves announced that they would be leaving Turner Field for a newly built ballpark named SunTrust Park located in Cobb County in the northwest suburbs outside Atlanta. The Atlanta Braves will play their final regular season game at Turner Field on October 2, 2016 versus the Detroit Tigers.

In November 2013, the mayor of Atlanta, Kasim Reed, announced that the Turner Field stadium and surrounding parking lots would be up for sale and redeveloped after the Braves season ends in 2016. Georgia State University expressed interest in the site in April 2014, and in December 2015, the Atlanta Fulton County Recreation Authority announced Georgia State University along with local developer Carter, submitted the winning bid for the Turner Field property. Georgia State University (GSU) is a public university located in downtown Atlanta. It was founded in 1913 and has approximately 54,000 students with 43,000 being undergraduates. In 2015, the Georgia State football team, the Panthers, had an average home attendance of approximately 10,400 fans.

 

 

 

 

 

 

 

Justin Ochs, Vice President of National Development for Compass Auctions & Real Estate, has been selected as the Lead Project Manager for the sale of this asset.  Ochs who successfully liquidated a $30 Million FDIC portfolio in 2014, is highly sought after in the traditional real estate market as well for his work ethic, customer service skills, professionalism and expertise in contract negotiation.

The Turner Field asset is currently listed at $4,000,000.00.  A full property information package can be found at www.SoldonCompass.com.

 

Justin Ochs, M.S., CAI

VP of National Development

(615) 507-5984

jochs@soldoncompass.com

www.SoldonCompass.com

 

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