The closure and sale of A-Game Sports Complex impact on Franklin Real Estate
The A-Game Sports complex is a basketball/volleyball facility attached to a hockey/ice skating rink in the heart of Cool Springs surrounded by commercial and office buildings. This past week it has been in the news almost every day as the financial struggles of the business owner have led them to make hard decisions. Last year (in 2015) the business owner placed the facility up for sale and quickly a buyer was found but new potential buyer wants to take the highest and best use of this facility, which is to use it for office space and not for a child and adult sport facility. Two of the tenants that rent space from the A-Game owners went to seek a court decision to block the sale to protect their leases from being broken as their leases extend to 2017 and 2019. This past week the courts sided with the owner/seller as the court deemed the negative impact to the tenants to be lesser than the impact to the owner/seller who is losing thousands monthly and a foreclosure would be the imminent future of the property. On the heals of that ruling the doors were locked and the facility immediately ceased operations, however the owner/seller does want to reach a compromise to help them continue to use the facility through March or April and even help to fund some of the loses they will experience due to the eventual sale and closure as a sports facility.
So how does all of this high level business dealings impact Franklin TN Real Estate. These type of high-end large facilities allow large 100+ team tournaments for basketball, hockey, and volleyball to take place in a prominent Williamson County facility. For local families with children involved in travel sports this meant that many of the large tournaments were held in or near their home base. The families got to enjoy staying at home instead of traveling to another city or even out of state for up to 3 days to play in these regional tournaments. For local businesses in Cool Springs that catered to out of town players in these tournaments like hotels and restaurants they will also lose a substantial amount of revenue from the in the drop in business. Besides the travel leagues, there are several other more local uses for the facility that will be impacted that may have impact on the real estate market. One issue is that there are several local schools that utilize the facility for practice when they own school facilities do not have space or appropriate facilities such as ice rinks. Those school teams may have to travel further to practice and play high schools sports or lose the sport altogether, which for dedicated players could lead to relocating families chasing a school that offers their child’s chosen sport. For younger children, this facility has been a weekend sports facility for local kids to develop their skills and love for the game. Other local facilities will be stretched as they try to continue to have locations for these younger teams to hold practices and games with other local children. Again, the availability of Williamson County families to use these facilities being taken away could have an impact on real estate sales as these local teams can't find a place to play and practice regardless of the cost will drive them to migrate towards Nashville or bigger cities that have more offerings.
As a Franklin resident and parent of an athletic youth that did grow up having access to the A-Game facility for many tournaments and practices I know that parents will suffer by the loss of this facility. More evenings spent traveling further to practice and local games, more weekends spent traveling out of town to tournaments, and even the loss of a local ice rink and the other facilities. It will be an adjustment for all parents with children in Williamson County. But keep in mind this was a luxury that we had here that many other families did not have so treasure that we did have it and don't blame the failing business for making a sound business decision in the wake of a bad situation. Hopefully something new will be built that can become a sustainable business that can help replace some of what will be lost by the closure of the A-Game Sports Complex. Also I hope that the local businesses can find a way to reinvent themselves to recoup the lost revenues from the inbound travel teams and their families.
If you want to discuss more about the impact on the local real estate market, please feel free to call Mike Grumbles at 615-587-5843. If you want to know more about the A-Game Sports Complex immediate future read about their proposal on their website.
The Grumbles Team's Mike Grumbles is The Relocation Engineer in Franklin, Tennessee 615-587-5843.
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