$25M Medical Office Project Breaking Ground in Atlanta
Thursday, February 25th, 2021
Transwestern Real Estate Services (TRS) announces 2021 Peachtree Medical, a 75,000-square-foot medical office development across from Piedmont Atlanta Hospital, Marcus Tower, and The Shepherd Center in Buckhead Atlanta, will break ground this month. Transwestern Senior Managing Director Steve Hall, Managing Director John V. Lopez, and Senior Associate Bo Stuart provide leasing services for the Class A medical office building on behalf of the owner and developer, Varden Capital Properties (VCP) and The Gipson Company. The project team includes Bailey Construction and architect Robertson, Loia, Roof, PC. Ameris Bank is providing construction financing.
“There is simply no other medical office opportunity like 2021 Peachtree,” said Hall. “A new state-of-the-art facility built by a leader in medical office development, adjacent to a new multifamily community, and across from two of the city’s most prestigious medical providers is beyond rare. We’ve received swift interest from physicians and healthcare professionals eager to resume pre-pandemic growth plans.”
2021 Peachtree Medical is in the heart of Buckhead’s healthcare corridor, a submarket with one of the highest barriers to entry in Atlanta. The five-story medical office building is next to The Lofts @ Twenty25, the former Darlington Apartments’ much-anticipated $70 million redevelopment, and a VCP project.
With 15,000-square-foot floorplates, covered drop-off and parking, and building signage for an anchor tenant, the medical office building is ideally suited for cardiology, orthopedics, plastic surgery, primary care, and other specialties that complement the services offered at Piedmont Atlanta Hospital, Marcus Tower, and The Shepherd Center.
“It’s a privilege to develop a new, modern medical office building at such an iconic location. We look forward to adding another unique building on Peachtree adjacent to the Piedmont Hospital and Shepherd Center campuses,” said Jay Gipson, owner of The Gipson Company. “The landmark ‘Atlanta’s Population Now’ sign was erected the year I was born. As an Atlanta native, I’m excited to keep refreshing it for the next 55 years!”
Transwestern partnered with The Gipson Company and G.H. Anderson & Company to prelease and sell Brookhaven Medical Center IIlast year, achieving 100% lease-up of the 51,429-square-foot, Class A medical office building before delivery. Anchor Health Properties purchased the Piedmont Hospital-anchored facility in July 2020 for $29.8 million, or $581 per square foot.