Loudermilk Breaks Ground on Buckhead Office Building
February 10, 2017 | By Douglas Sams / The Atlanta Business Chronicle
An Atlanta real estate company is starting construction on a nine-story medical office building, the latest project rising in the Buckhead Village.
The Loudermilk Cos. is developing the 120,000-square-foot project at 371 East Paces Ferry Road, the first in-town Atlanta medical office building to launch construction in several years.
he building already has four tenants signed to leases: Concord Pharmacy; Piedmont Medical Care Corp.; Peachtree Dermatology; and Kalos Surgical Associates. The property is nearly 30 percent leased as construction begins.
Cushman & Wakefield is the leasing agent for the project. HFF arranged financing for development from Bank of The Ozarks and Square Mile Capital.
The project comes amid significant demand for high-quality boutique medical office space, said George Olmstead, senior director and principal of Cushman & Wakefield’s healthcare group.
Although it’s the first new intown medical office building in a while, construction was already booming across the Buckhead Village, a neighborhood just south of the area’s two luxury malls and tallest glass office and condo towers. The Village is dotted with several old brick buildings, local retailers and restaurants.
The Loudermilk Cos. is behind several Buckhead Village developments, both new and planned, including, “The Charles,” an 18-story condo building at Peachtree and East Paces Ferry roads. Development could begin next year. At 359 East Paces, Loudermilk Cos. will develop a 145,000-square-foot office building.
At 309 East Paces, it’s launched an adaptive reuse project that will convert the old Aaron’s building into office space for creative class companies. It could wrap up by June.
Developers are also underway on several apartment projects on Peachtree and East Paces, bringing more residents to a neighborhood that is slowly becoming more walkable.
Originally appearing in the The Atlanta Business Chronicle
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