The 60-acre property is located near the North Druid Hills Road and I-85 interchange. Emory purchased the property from Equity Commonwealth, according to a released statement from the University.
Emory President James W. Wagner said in the release that the university “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 in orthopedics, 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.
The property includes approximately 400,000 square feet of office space. Nine office buildings were included in the purchase.
Brookhaven Mayor John Ernst said the city is pleased that Emory purchased the 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.
The city approved to annex the property in December 2014.
Emory, along with the Atlanta Hawks Basketball Club, also announced that the two entities have partnered to build a training and sports medicine center on the park’s property, which will serve as the team’s official practice site.
According to the Hawks, the team expects to break ground this summer on the 90,000-square-foot facility, and the Hawks Basketball Operations Department will be housed in the facility upon its completion.
Hawks principal owner Tony Ressler said in a released statement that he is pleased with the new partnership.
“It is a privilege to be partnering with a local institution that is a world leader in the medical field and that also shares our vision and passion for excellence,” Ressler said. “In addition, we are proud that this facility will go beyond benefiting just our players, but will also be a valuable sports medicine resource available to the entire community.”