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Officials say the purchase would help expand the university’s space for academic programs, research and student needs.
ATLANTA — The Georgia Institute of Technology is finalizing an agreement with The Coca-Cola Company to purchase property along North Avenue for $31.3 million.
According to the organizations, the planned transaction includes a two-story brick building and an adjacent two-acre park that have been part of Coca-Cola’s holdings since 1988.
The property sits near Georgia Tech’s campus. Officials say the purchase would help expand the university’s space for academic programs, research and student needs.
Coca-Cola said it chose to work directly with Georgia Tech on the planned sale, citing the long-standing relationship between the company and the university. Coca-Cola has been located near the Georgia Tech campus since 1920.
Georgia Tech said it will evaluate how the property could best support academic, research and student needs as part of its long-term campus planning process.
Officials say the acquisition is intended to ensure the university has space to support future enrollment growth and research activity while contributing to innovation and economic development in Georgia.
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