Blackbird Media has announced purchase of property in Atlanta, Georgia that serves as the site of the Atlanta Sign, one of the most iconic, digital out-of-home advertising assets in the U.S.
Blackbird Media purchased 150 and 152 Walton Street as well 149 Centennial Olympic Park Boulevard in Atlanta. The company paid over USD 10.6 million for the .099-acre tract; a purchase price believed to be among the highest per square foot in state history.
Blackbird Media originally acquired a lease for the Atlanta sign itself in 2019, converting the iconic location to what the out-of-home advertising industry calls a “digital spectacular.” The seller of the property is Jackson June, LLC led by Larry Roberts, owner and operator of Boardworks Outdoor Advertising.
Blackbird Media President Prentiss Nelson said the purchase was to support the ongoing operation of the Atlanta Sign, noting the board in its new digital form has become a favorite of both local and national advertisers seeking to reach the Atlanta audience.
“We believe in the power of the Atlanta market and its value to advertisers. The Atlanta Sign has proven to be one of the most sought after digital out-of-home assets in the country, and Blackbird Media is doubling down on our commitment to the market”.
The Atlanta purchase comes just a year after Blackbird Capital, the out-of-home firm’s parent company, completed a high-profile assemblage of property at the 1600 and 1700 blocks of West End Avenue in Nashville involving another iconic out-of-home advertising asset, The Nashville Sign, with the intent to develop the property vertically.
Blackbird Capital Principal Chenault Sanders said “We are very focused on markets like Atlanta and Nashville that are showing growth and consistently attracting investors and capital from across the country,” Sanders said. “As the country continues its economic recovery, we will pursue a strategy to find assets with lasting value and companies that demonstrate an ability to scale regionally and nationally.”
Drachman M&A Co. of Tucson, Arizona served as an advisor to sellers Jackson June, LLC on the transaction.