By Tony Wilbert
ATLANTA (May 12, 2014) - Well-established Atlanta developer Bob Kern appears to be one step closer to erecting a $65 million medical office building at Peachtree and Collier roads.
Kern's Cornerstone Development Partners just placed a sign for the long-discussed MOB at the site of the former Harry's In a Hurray location at 1875 Peachtree, which backs up to the Brookwood Hills neighborhood. Skyline Views has been at the forefront of writing about the property because, as a resident, I have access to neighborhood meetings where the project is discussed.
The project, designed by Rule Joy Trammell + Rubio, hits home for several reasons. It already has cost me my favorite ATM. But, the Cornerstone Medical Center would mean the end of my Peachtree Cleaners and Peachtree Road Liquors, my favorite spot to by wine, beer and rye whiskey. The development also would mean we lose our favorite Chick-fil-A for a while, until the Cornerstone MOB is finished, with a brand-new Chick-fil-A outlet.
Even with the prospect of having to go to a relocated Peachtree Road Liquors and to wait for a new Chick-fil-A, I still support the development.
While Kern and his team have closed on the Harry's/ATM site, its offer of about $8 million for the liquir store's site apparently isn't a done deal. It will be interesting to see if they can finalize the deal. A couple of years ago, plans for a drive-throgh Walgreen's bit the dust because of the inability to reach a deal.
Skepticism remains aming Brookwood Hills neighbors, several of whom are in the commercial real estate business. Cornerstone needs to lock in an anchor tenant willing to pay more than $30 a square foot for medical space when Piedmont offers space at a much-better price at 2001 Peachtree. Moreover, it looks like Northside will be heading to a new site in Midtown instead of Cornerstone's porposed MOB.