Georgia Tech, The Coca-Cola Company Finalizing Agreement on North Avenue Property
Georgia Institute of Technology and The Coca-Cola Company are finalizing an agreement for the Institute to purchase property along North Avenue, strengthening Georgia Tech’s capacity to educate students, advance research, and serve communities across Georgia.
Coca-Cola, a neighbor to Georgia Tech since 1920, expects to sell a building and adjacent land in a transaction valued at $31.3 million. The company chose to work directly with Georgia Tech on the planned transaction, reflecting the long-standing relationship between the two organizations and a shared commitment to Atlanta’s continued growth and innovation.
The expected sale includes a two-story brick building, part of Coca-Cola’s holdings since 1988, and an adjoining two-acre park along North Avenue.
“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.”
James Quincey, Coca-Cola’s executive chair and Georgia Tech’s 2020 Commencement speaker, said the company wanted the property to continue contributing to Atlanta’s innovation ecosystem.
“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.”
Georgia Tech will evaluate how the property can best support academic, research, and student needs as part of its long-term campus planning efforts. The acquisition represents a strategic step in ensuring Georgia Tech has the space needed to educate future leaders and advance research that strengthens Georgia’s economy.
About Georgia Tech
The Georgia Institute of Technology, or Georgia Tech, is one of the top public research universities in the U.S., developing leaders who advance technology and improve the human condition.
The Institute offers business, computing, design, engineering, liberal arts, and sciences degrees, as well as professional development and K-12 programs for fostering success at every stage of life. Its more than 56,000 undergraduate and graduate students represent 54 U.S. states and territories and more than 146 countries. They study at the main campus in Atlanta, at instructional sites around the world, and through distance and online learning.
As a leading technological university, Georgia Tech is an engine of economic development for Georgia, the Southeast, and the nation, conducting more than $1 billion in research annually for government, industry, and society.
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company’s purpose is to refresh the world and make a difference. We sell multiple billion-dollar brands across several beverage categories worldwide. Our portfolio of sparkling soft drink brands includes Coca-Cola, Sprite, and Fanta. Our water, sports, coffee, and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Fuze Tea, Gold Peak, and Ayataka. Our juice, value-added dairy, and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife, and Santa Clara. We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people’s lives, communities, and the planet through water replenishment, packaging recycling, sustainable sourcing practices, and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at www.coca-colacompany.com and follow us on Instagram, Facebook, and LinkedIn.