News
TGI...MOB?
October 13, 2010
| Take a former TGIF restaurant on Peachtree Street and imagine a gleaming medical office building. As you can see by the picture we took below, Parkside Partners has that very vision. And the developer is moving forward to realize it. |
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| Parkside Partners, in a JV with orthopaedic practice Georgia Hand, Shoulder & Elbow, recently purchased the vacant TGIF and will develop a 47K SF Class A medical office building as Phase 1 of what is being called 2061 Peachtree, says Kyle Jenks, a principal with the firm. The site included the old restaurant, 1.5 acres, and half-price appetizers for $2.3M. In turn, Georgia Hand, Shoulder & Elbow will occupy nearly half the space, Kyle says. And while the rest has yet to be leased, Kyle says the partnership also has secured a construction loan with development to begin next spring. Kyle says there is a second phase planned, encompassing an 80K to 90K SF MOB, but that will be timed with market demand. "We're fairly confident in the site, especially since it's right on the Beltline and adjacent to the Piedmont Hospital campus," Kyle tells us. |
