Newswire Agents of Tech

RCLCO Real Estate Consulting Launches Sports Venue-Anchored Development Tracker

RCLCO Sports Venue-Anchored Development Tracker (Image via PRNewswire)

Play ball! Major League Baseball Major League Baseball leads major sports leagues in total real estate developments, with 16 ballparks (53% of venues) having a related development, according to RCLCO Real Estate Consulting’s just launched Venue-Anchored Development Tracker of every major league stadium in the United States and Canada.

The tracker will allow users to track existing, under construction and planned venue-anchored development of a sector which is increasingly a driver for mixed-use development throughout the country. RCLCO counts 43 venue-anchored real estate development projects (MLB, NFL, NBA, NHL, MLS) on the ground today, seven under construction, and 34 planned/publicly under consideration.

“We are seeing a burst in development interest around sports venues and stadiums, as teams and owners seek to diversify and control future revenue streams, as well as enhance the fan experience and deliver local community benefits,” said Erin Talkington, managing director of RCLCO. “There is no one formula for a successful development. While the most well-known projects are held up as places to replicate, the unique local-market responsive elements of places like Titletown are what will differentiate future venue-anchored developments.”

RCLCO defines a venue-anchored development as one where the venue serves as the focal point around which real estate is organized. The Venue Anchored Development Tracker includes detailed information regarding every stadium’s ownership, announced future plans and the surrounding associated real estate development.

Notably, teams/ownership groups have only been involved in 43% of existing projects but are involved in 68% of planned projects.

We expect the development pipeline to continue to grow, as one impetus for planning a new real estate project is venue reinvestment or replacement. Over forty venue leases across the five leagues expire in the 2030s, suggesting the focus on real estate opportunities will continue.

“It is tremendous to see the high-quality analysis and information RCLCO is publishing with the first-of-its-kind Sports Venue-Anchored Development Tracker as a way to further cement our place as industry leaders at the intersection of sports and real estate,” said RCLCO Managing Director Joshua Boren. “As rising franchise values and new ownership continue to increase, and teams look for additional ways to expand their brand and increase revenues, real estate will continue becoming an even more critical component of these transactions and the industry’s future. RCLCO has been fortunate to be at the forefront of this movement, as the industry continues to evolve and become more sophisticated.”

While the initial tracker is focused on professional league venues, RCLCO will be expanding the tracker to include numerous other leagues and venues throughout the year and on an ongoing basis.