Two mixed-use developments. Radically different launch trajectories.

Titletown in Green Bay opened smoothly in 2017 with over $300 million in total investment and immediately became a community destination, while Atlantic Station in Atlanta struggled with 70% retail occupancy, tenant failures, and required complete strategic overhauls after opening.

The difference? One anchored around guaranteed sports traffic. The other manufactured traffic from scratch.

This case study explores the structural differences between these two approaches to mixed-use real estate development.

Atlantic Station (Traditional Mixed-Use)

The Performance Gap

The Packers provide guaranteed traffic through:

This represents predictable, contractually-guaranteed foot traffic before spending resources on marketing.

Atlantic Station's Manufactured Traffic Challenge

Atlantic Station struggled with overpriced "celebrity" concepts like Dolce, Geisha House, and Ten Pin that couldn't even pay rent. The development had to:

Without a built-in draw, Atlantic Station competed with every other shopping center in metro Atlanta.

When Green Bay hosted the 2025 NFL Draft, the three-day event generated $72.9 million in economic impact for Brown County - nearly $60 million more than projected, and $104.8 million statewide. Additionally: Over 82% of respondents rated Green Bay as "Excellent" as a host city, and 82% of previous draft attendees said it was the best draft they'd attended.

Atlantic Station's Programming Challenges

Atlantic Station attempted events like Cirque du Soleil, Taste of Atlanta, Christmas tree lighting, weekend art fairs, and train rides - but struggled to create consistent programming that drove traffic.

The difference? Titletown's programming could build on top of guaranteed Packers traffic. Atlantic Station's programming needed to create traffic from zero.

The Packers invested over $300 million in Titletown, which Packers CEO Mark Murphy called "instrumental" in convincing the NFL to award Green Bay the 2025 Draft.

The development did not struggle with initial occupancy, potentially because:

Atlantic Station: Multiple Ownership Changes

Atlantic Station's retail occupancy was around 70% when North American Properties took over in 2010. They invested heavily to reach 90% occupancy, but the property changed hands again when Hines purchased it in October 2015 - the second major ownership change in five years.

Even in 2023, Atlantic Station's T3 office tower dropped from 75% leased to 40% occupied after a large tenant bought out of its lease during the pandemic.

Traditional mixed-use developments may compete on price and amenities alone. Sports-anchored developments may compete on access to events and audiences.

1. Traffic Predictability

Titletown generates traffic through the Packers' long-term lease at Lambeau Field.

Lenders may view this contractual certainty differently than manufactured foot traffic, potentially resulting in different loan terms, cap rates, and refinancing conditions.

2. Pricing Dynamics

Sports-anchored tenants may be willing to pay premiums for event-day access. Hotels may charge surge pricing on game weekends. Restaurants may fill on predictable schedules. Retail may benefit from impulse purchases from crowds.

Atlantic Station had to replace struggling restaurants - Geisha House, 10 Pin Alley, Dolce, and Fox Sports Grill all closed. The three restaurants that replaced half that space generated $11.2 million in annual food sales versus $4.2 million previously - but only after years of trial and error.

3. Media Exposure Effects

When Green Bay hosted the NFL Draft, media tracking showed the terms "Discover Green Bay" and "NFL Draft" appeared in 776 news articles nationwide with an average reach of 6.1 million potential viewers per article - equivalent to nearly $50 million in paid advertising.

Atlantic Station receives regional coverage. Titletown receives national exposure during Packers games and events.

Third-party research on sports-anchored developments demonstrates structural differences in performance:

Key Findings from Industry Studies:

These are illustrative examples of historical performance from publicly available data sources. Individual project results vary significantly based on market conditions, execution, team performance, location, tenant mix, capital structure, and numerous other factors.

Titletown vs. Atlantic Station isn't an isolated comparison. Historical data shows patterns in how sports-anchored developments have performed:

Historical Sports-Anchored Performance Examples:

Traditional Mixed-Use Historical Patterns:

IMPORTANT: These are historical examples from publicly available sources and do not represent or predict the performance of any current or future investment opportunity. These properties are unaffiliated with Momentous Sports and are presented solely for educational comparison purposes. Past performance of other properties does not indicate future results for any investment.

Sports-anchored developments have historically demonstrated certain structural characteristics that may differ from traditional mixed-use:

Traditional mixed-use developments typically rely on:

This analysis of Titletown and Atlantic Station illustrates how different anchor strategies have historically impacted mixed-use real estate performance. Key educational observations include:

These observations are based on publicly available historical data about these two specific properties and do not constitute investment recommendations, performance predictions, or guarantees for any investment opportunity.

Titletown launched with over $300 million in investment and attracted national attention, including 362,588 unique attendees for the 2025 NFL Draft that generated $104.8 million in statewide economic impact.

Atlantic Station required 20 years, multiple ownership changes, and continuous reinvention to stabilize at approximately 94% occupancy.

The difference illustrates how anchor strategy may affect launch performance and stabilization timelines in mixed-use real estate. However, these historical outcomes do not predict future performance of any investment opportunity, as results depend heavily on execution, market conditions, and numerous risk factors.

All data presented in this educational document has been sourced from publicly available materials:

This newsletter is for informational and educational purposes only and does not constitute investment advice, an offer to sell, or a solicitation of an offer to buy any securities. All financial data presented represents historical performance of specific venues and should not be construed as indicative of future results. Past performance does not guarantee future results. Investment in sports venues and related assets involves significant risk, including potential loss of principal. The behavioral economics concepts discussed are based on academic research and historical case studies that may not apply to all situations or guarantee similar outcomes. No representation is made that any investment approach discussed herein will or is likely to achieve results similar to those shown. Any investment decision should be made only after careful consideration of all relevant factors and consultation with qualified financial, tax, and legal advisors. Momentous Sports and Magnolia Hill Partners make no representations or warranties regarding the accuracy or completeness of this information and disclaim any liability arising from your use of this information. This material has not been prepared in accordance with requirements designed to ensure unbiased reporting, and there are no restrictions on trading in the securities discussed herein prior to publication. For qualified accredited investors interested in learning more about our educational materials and investment approach, please contact us directly for a confidential discussion.