The new Braves stadium in Cobb County is still three years away, but anticipation among both tenants and landlords in the area is already heating up
Mike Geller at D. Geller and Son Diamonds says this neighborhood just north of I-75 and I-285 along Highway 41 used to have a name.
“Back when I built this store, it was called the ‘Golden Triangle,” he told WSB’s Pete Combs.
But Geller said the times have changed and the area which was once a sparkling retail zone has lost its luster.
At least one expert believes that’s about to change, thanks to the coming Braves Stadium.
“What I hear is excitement about the revamping of this area,” said Susannah Kinsey, a broker at Sterling Risk Advisors.
She said opportunity for investors in the area will come in two stages – the first entailing more risk. The second wave will entail less speculation but much higher cost.
“There are still some major opportunities here,” she said from her company’s new offices approximately a mile from the stadium site.
The first pitch at the new Braves stadium is expected in April 2017. The $672 million facility will be surrounded by a commercial and entertainment district that Kinsey believes will rival those in the Phipps-Lenox Plaza area, Perimeter Mall and Atlantic Station.
“People that are coming to the Braves game will see the area (and say) ‘Oh, wow! I should go back there at other times” to shop and play, she said.
Geller is likewise optimistic. He’s been thinking about downsizing his store, which is in an aging shopping center two blocks from the stadium site. Now, however, he’s considering something different.
“Would you think about moving into the new entertainment district surrounding the stadium?” Combs asked.
“Yes!” Geller answered enthusiastically. “We hadn’t thought about it before, but we’re considering it now.”
Lindsey said there will certainly be change in the area between 285 and Windy Hill Rd. on Highway 41. Not all of it will be good for the businesses that now call it home.
“A lot of the smaller tenants will be pushed further out just because they typically won’t be able to afford the rents,” she said.