Colliers International (“Colliers”) has been retained on an exclusive basis by The City of Dunwoody (“Owner”) to market for sale of 4555 North Shallowford Road (the “Property”), a suburban medical office building located in the upscale community of Dunwoody, Georgia (Dekalb County). The Property, built in 1972 and fully renovated in 2014, is a two-story, 22,000 square foot Class B medical office building with 102 parking spaces and with easy access to I-285 and surface streets in North Atlanta. It is located less than five miles from Emory Saint Joseph’s Hospital, a premier 410-bed acute care hospital serving the North Atlanta submarkets. In December 2018, Emory Saint Joseph’s Hospital filed plans for a $6 million dollar expansion. The Property is located in the heart of Dunwoody, which is a flourishing market with a strong payer mix. Emory Saint Joseph’s Hospital was voted number one hospital in Georgia for the seventh year in a row by U.S. News & World Report. The Property is currently 100% occupied by one tenant: Emory Healthcare. Emory’s lease extends through April 30, 2024.
I was asked on a different platform how big is the parcel and could the land be used for a new school? Here was my reply...
ReplyDeleteParcel / building for sale is 2 acres and the city owns the 3 acres behind it so there could be 5 acres in play if it made sense for a school. Unfortunately, Emory and other doctors have a lease until April 2024 so short term this property can not assist. This land was purchased for parkland but the Emory building is in great shape for medical uses compared to the other building behind it. Thought was to sell medical building now and take funds to possibly add park / green space to Village than in a few years when the city has full control of back building use other three acres for public use like a gymnasium or possibly a natatorium? That discussion is a few years out because we currently do not have the ability to formally use the land because there is a controlling land lease in place.