Emory University announced today, April 5, that is purchasing approximately 60 acres of property at Executive Park, located in Brookhaven near the North Druid Hills/I-85 interchange, according to a statement from the university.
Emory purchased the property from Equity Commonhealth. Included in the purchase are nine office buildings — 4E, 6, 17, 20, 22, 26, 50, 52 and 57.
The property is south of Children’s Healthcare of Atlanta, which is currently developing its property for an eight-story outpatient building. The building will be used as a 340,000 square-foot ambulatory care center including a lower-level parking deck and will take up about 10 acres of CHOA’s approximate 30-acre property. Plans are for it to be completed by 2017.
Emory’s purchase of 60 acres in Executive Park is part of a “long-term, mission-oriented view when evaluating its real estate holdings,” said Emory President James W. Wagner in a statement.
“This significant parcel, which is in a location accessible to all of metro Atlanta, coupled with the fact that we have successful programs in orthopaedics, brain health, medical science education, continuing education and health information technology already located in the park, presented an extraordinary, once in a generation opportunity for Emory and the region,” Wagner said.
Brookhaven Mayor John Ernst said the city was excited about the potential for the property under Emory’s ownership.
“We are pleased that Emory has acquired Executive Park. We expect Emory’s presence to be a catalyst for revitalization of this great area, which the city welcomed into Brookhaven less than a year and a half ago,” Ernst said in a statement.
Brookhaven annexed Executive Park into the city in 2014.
There are approximately 400,000 square feet of office space on the site.
Executive Park was put up for sale in November.