The Atlanta Braves are in the process of completing the purchase of an additional 25 acres of land in the Cumberland area of Cobb County for about $15 million, team officials told The Atlanta Journal-Constitution.
The land is near, but not contiguous with, 57 acres the Braves closed on in January for $34.2 million as the site of their planned ballpark and private, mixed-use development.
The additional 25 acres, consisting of several parcels the team has had the option to buy since last year, will be used for parking and a later phase of development, according to Braves Executive Vice Presidents Mike Plant and Derek Schiller.
“We’re doing what we said we were going to do,” Plant said Thursday, just before leaving to sign pre-closing documents.
The Braves will officially take ownership of the property next week when an electronic funds transfer is made.
The Braves are purchasing the additional land from the same seller — Maryland-based real estate titan B.F. Saul Co. — and at the same $600,000-per-acre price as the larger parcel the team already owns.
When the additional purchase is completed, the Braves will have paid almost $50 million for 82 acres of undeveloped land near the northwest intersection of I-75 and I-285.
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