A property swap between longtime neighbors is afoot west of Midtown, with potentially big implications for a major Atlanta university. 

Georgia Tech and The Coca-Cola Company, two cornerstone intown intuitions, are finalizing a $31.3-million deal that would see the beverage maker sell a two-story brick building and adjacent land it has owned along North Avenue since 1988. 

According to a Georgia Tech announcement, the purchase from its neighbor since 1920 would allow the university to boost its capacity to advance research, educate students, and serve Georgia communities, though specific expansion plans have yet to be finalized.   

According to Fulton County property records, the 333 North Ave. property spans 3.2 acres and includes an Art Deco-style brick building from 1921 and a warehouse from 1971. CoStar reports Coca-Cola has used the property for training employees. 

Looking west, away from Midtown, how the former warehouse properties and park relate to Coca-Cola's campus at left. Google Maps

The 2-acre greenspace section of the property in question where North Avenue meets Tech Parkway. Google Maps

The deal would also include a 2-acre park at the eastern edge of the property that would boost Georgia Tech-controlled greenspaces around campus. 

The PATH Foundation’s award-winning PATH Parkway, a one-and-½ mile bikeway connecting Midtown to downtown, runs along a section of the park property in question. 

Coca-Cola chose to offload the property to Georgia Tech to help continue a century-old relationship and to help support Atlanta’s innovation ecosystem, according to officials.

“When we decided this space was no longer needed for our corporate campus, our goal was to work with Georgia Tech, as this site offers a great opportunity for them to expand,” said James Quincey, Coca-Cola’s executive chair, in a statement. 

“This strategic addition to our core campus will support our growth in enrollment and research activity for years to come,” added Ángel Cabrera, Georgia Tech president. 

A section of the 1920s building and property frontage along North Avenue. Google Maps

Looking north across the property in question, with Coca-Cola's main campus at bottom. Google Maps

As for next steps, Georgia Tech plans to evaluate how the property can best be used to support research, academic, and student needs as long-term planning and expansion efforts continue.

Also along the North Avenue corridor, Georgia Tech in February announced a $5-million contribution from Delta Air Lines to help build a new Aerospace Engineering Building that will aim to improve one of the top-ranked aerospace programs in the U.S.—and to elevate both the aviation industry and Georgia’s economy. 

...

Follow us on social media: 

Twitter / Facebook/and now: Instagram  

• Georgia Tech news, discussion (Urbanize Atlanta)