Coca-Cola closes $31M deal for Georgia Tech to expand

The transaction closed July 15.

Georgia Tech said in April it was finalizing the deal, calling it a “strategic addition to our core campus” that would support its enrollment growth and research activity for years to come. The Board of Regents authorized the acquisition at an April meeting, a spokesperson said.

Georgia Tech has the university system’s highest statewide enrollment. In fall 2025, the research university welcomed 56,715 undergraduate and graduate students, up about 18% from fall 2023, according to its annual fact book.

On Friday, a Georgia Tech spokesperson said the school has not yet determined a use for the property.

Coca-Cola declined to comment Friday. The company formerly used a two-story building on the property for offices. But more recently, it sat vacant.

In April, James Quincey, Coca-Cola’s former CEO who now serves as executive chair, said in a news release the company wants the property to contribute 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 at the time.

Credit: Seeger Gray/AJC

Credit: Seeger Gray/AJC

As part of the deal, Coca-Cola will maintain a pedestrian bridge that spans over North Avenue connecting the property to its main headquarters, according to an agreement in the property deeds. Coca-Cola has not disclosed future plans for the bridge. But demolition could be one option, according to the deeds.

For Georgia Tech, the acquisition could help link its main campus to its project called Creative Quarter, an innovation district focused on arts and entertainment that is taking shape west of the property.

A new cultural hub called “Loop” opened there in June to host exhibitions, installations, performances and public programs, according to Georgia Tech.