The Battery Atlanta
A comprehensive deep dive into the $1.5B real estate ecosystem driving year-round profitability beyond the ballpark.
Background & Genesis
The Battery Atlanta officially opened its first phase in April 2017, concurrently with the debut of Truist Park (then SunTrust Park). The initial development was a massive undertaking, with a combined stadium and mixed-use construction cost estimated at approximately $1.1 Billion.
Spanning approximately 60 acres, the district is designed as a high-density urban environment. The total footprint includes over 1.5 million square feet of built space, featuring more than 40 restaurants and retail shops, alongside a significant concentration of Class A office space and luxury residential units.
Of that total investment, the mixed-use district itself accounted for roughly $400M - $500M in Phase I development, utilizing a sophisticated private-public partnership model that has since become the gold standard for sports-anchored real estate globally.
The “365-Day” Value Proposition
The Battery Atlanta has fundamentally transformed the Braves’ financial model, shifting from an 81-day baseball operation to a 365-day real estate yield generator. This strategic pivot provides a blueprint for diversified revenue streams, reducing reliance on team performance alone.
This dynamic district captures the full visitor lifecycle, ensuring continuous engagement and monetization across three key pillars.
Retail & Dining Ecosystem
Corporate & Office Hub
Residential & Hospitality
Segment Financial Performance
The following data represents the audited financials for the Mixed-Use Development segment as reported in the Feb 25, 2026 earnings release.
| Reporting Metric (Mixed-Use Segment) | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Mixed-Use Revenue | $53,577,000 | $58,996,000 | $67,318,000 | $97,432,000 |
| Mixed-Use Operating Income Before Depreciation and Amortization (OIBDA) | $39,499,000 | $35,433,000 | $45,448,000 | $68,527,000 |
Key 10-K Takeaways
While the Braves are not obligated to provide detail into the specific sources of its $97,432,000 mixed-use revenue, the commentary of its 10-K filing provides additional context and insight:
- The district generates broad-based revenue from long-term leases with corporate office tenants (such as Comcast’s regional HQ), hospitality partners (the Omni Hotel), and residential/retail tenants throughout the complex.
- A "substantial portion" of revenue comes from tenant recoveries where tenants reimburse the organization for Common Area Maintenance (CAM), real estate taxes, and property insurance.
- Beyond fixed rents, certain retail leases include overage rents based on tenant sales exceeding a stated threshold, providing a direct stake in district spending success.
- Base minimum rents are recognized on a straight-line basis over the life of the lease, providing a predictable, high-visibility income floor.
- While critical for traffic flow, parking and sponsorship comprise a "relatively small portion" of the Mixed-Use Development revenue compared to the core rental and recovery engine.
Official Reporting Resources:
Mixed-Use Development revenue is derived primarily from The Battery Atlanta real estate portfolio and includes rental income and sponsorship revenue.