RCLCO Launches New Sports Venue Anchored Development Tracker
Sports are a unique value driver for real estate development, increasingly serving as an anchor for mixed-use development throughout the country. RCLCO has created a proprietary Venue-Anchored Development Tracker of every major league stadium (other leagues coming soon!) in the United States and Canada in order to track existing, under construction, and planned venue-anchored real estate development. RCLCO’s Venue-Anchored Development Tracker includes detailed information regarding every stadium’s ownership, announced future plans, and the surrounding associated real estate development.
Key Takeaways:
- We count 43 venue-anchored real estate development projects (MLB, NFL, NBA, NHL, MLS) on the ground today, 7 under construction, and 34 planned/publicly under consideration.
- MLB leads with 16 ballparks (53% of venues) having a related 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.
