ATLANTA — A partnership between locally based real estate company Third & Urban and HighBrook Investors has acquired Corporate Square, a 30-acre office park in the Brookhaven area of Atlanta, with plans to redevelop the property into a $605 million mixed-use district. Patterson Real Estate Advisory Group arranged the financing for the acquisition.
The project, dubbed Northbend, is moving forward after the partnership received approval to rezone the site as a master-planned development. Third & Urban is currently in the process of securing partnerships for the initial phases of vertical construction.
Construction of Northbend, which is situated between Buford Highway and I-85 near the newly opened Children’s Healthcare of Atlanta Arthur M. Blank Hospital, is scheduled to commence in summer 2026. Eight obsolete office buildings will be demolished to allow for new infrastructure and improved road networks.
According to the development team, Northbend is expected to generate $8.2 million in annual tax revenue for the city upon completion, while creating more than 400 construction jobs and over 300 permanent jobs.
“Northbend will transform an outdated, underutilized office park into a vibrant gathering place for the Brookhaven community and beyond,” says Hank Farmer, partner at Third & Urban. “This redevelopment is a catalyst for economic growth by bringing more housing, green space, retail and connectivity to the area’s fast-growing employment center.”
The project’s first phase will comprise 10,000 square feet of retail, 390 multifamily units, 23 rental townhomes, 119 for-sale townhomes, 140 corporate housing units and an activated public plaza. Retail offerings at Northbend will feature food-and-beverage-oriented options in partnership with local businesses along the Buford Highway corridor.
Meanwhile, 10 percent of the development’s rental units will be designated as affordable housing.
Third & Urban is also pursuing LEED (Leadership in Energy and Environmental Design) certification for the property.
The site will feature approximately 5 acres of public green space, which is designed to integrate seamlessly with the Peachtree Creek Greenway and create future linkages to the Atlanta Beltline, Path 400, and the Southeast Conservancy nature trails.
Additionally, Third & Urban will preserve a large tree canopy along the Greenway, incorporate public art throughout the development and perform infrastructure work on roads, sidewalks and linear parks.
Third & Urban maintains a current portfolio of more than 3.2 million square feet across the Southeast and has developed approximately $1.4 billion in institutional-grade projects.
Founded in 2010, real estate private equity firm HighBrook Investors operates in both the United States and Europe and has completed more than 75 investments through 150 acquisitions across major real estate asset classes.
— Abby Cox