Emory University has purchased 60 acres at Executive Park, the office park near the interchange of North Druid Hills Road and I-85 in Brookhaven.
The property had been on the market since last year, and was purchased for $50.9 million, according to information from Databank Atlanta, a real estate research firm.
The site includes about 400,000 square feet of office space, and nine office buildings are included in the purchase. A recently announced state-of-the-art practice facility and sports medicine complex in partnership with the Atlanta Hawks will also be there. That 90,000-square-foot complex is expected to cost $50-plus million, be privately funded and completed in time for the 2017-2018 NBA season.
Emory programs already at Executive Park include Emory Orthopaedics & Spine Center, Emory Brain Health and programs in medical science education, continuing education and health information technology. Additional plans for the purchased properties will come after a formal planning and programming process, school officials said this week.
“Emory takes a long-term, mission-oriented view when evaluating its real estate holdings. This significant parcel, which is in a location accessible to all of metro Atlanta, coupled with the fact that we have successful programs … already located in the park, presented an extraordinary, once-in-a-generation opportunity for Emory and the region,” Emory president James Wagner said in a statement about the land deal.
The Executive Park properties were purchased from Equity Commonwealth, and the deal was brokered by real estate services firm Cushman & Wakefield.
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