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Georgia Tech planning to buy North Avenue property from Coca-Cola for over $31 million

By
Dan Raby
Senior Digital Producer, CBS News Atlanta
Dan Raby, the senior digital producer for CBS News Atlanta, has been covering everything happening around Georgia for more than a decade.
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Dan Raby

/ CBS Atlanta

The Georgia Institute of Technology may be expanding as the Atlanta university works to finalize an agreement to buy a piece of property owned by the Coca-Cola Company.

The two organizations announced the plan for Georgia Tech to buy a two-story building and an adjacent two-acre park along North Avenue this week.

The area is expected to sell for $31.3 million and has been part of Coca-Cola's holdings since 1988, a press release revealed.

School officials say that the property would strengthen the university's capacity to advance research and educate its students.

"This strategic addition to our core campus will support our growth in enrollment and research activity for years to come," said Georgia Tech President Ángel Cabrera. "I appreciate our long relationship with The Coca-Cola Company that allowed us to pursue this opportunity as we continue to invest in our campus, our neighborhood, and Atlanta's innovation ecosystem."  

projectmap-final.png
Georgia Tech is expected to buy the two-story building and the surrounding area for $31.3 million. Georgia Tech and the Coca-Cola Company

"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," Quincey said. "Coca-Cola has a long legacy of involvement and partnership with Georgia Tech, and we are excited to see them redevelop this important area in Atlanta."

Once the sale goes through, Georgia Tech will evaluate how the property can support its academic and student needs.

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