Regional commercial developer Cornerstone Development Partners formed a joint venture with Stein Investment Group to develop a $65 million mixed-use complex at the intersection of Collier and Peachtree Rd. in Atlanta.
Named the Cornerstone Medical Center, the new 161,000-square-foot development will consist of 145,000 square feet of medical office space and 16,000 square feet of street level retail and restaurants, with Chick-fil-A already agreeing to a lease on the ground floor. The property will stand seven stories and include six 22,300-square-foot floors that can be used for single or multiple tenants.
"The catalyst for this project was the medical community's current demand for efficient, 21st century medical space. There's very little medical office space left in the area immediately surrounding Piedmont Hospital," says Jason Linscott, principal at Stein Investment Group.
The developers plan on breaking ground in the summer of 2014 and be completed in 2015. This project has been planned since 2012 and was finally approved by the Atlanta Zoning Commission on February 3rd.