A former State Farm office park in the northern suburbs of Atlanta where hundreds of workers once commuted daily was long eyeballed by local officials as a promising place for a new development.
Those ambitions of leaders in Johns Creek, Georgia, were realized last year when the property's owner, U.S. Realty Advisors, reached a lease agreement with medical device maker Boston Scientific. The transaction was awarded the 2024 CoStar Impact Award for lease of the year in Atlanta, as judged by a local team of real estate professionals familiar with the market.
Boston Scientific plans to demolish the State Farm buildings and construct a 206,686-square-foot manufacturing and research facility on the site at 11350 Johns Creek Parkway. Construction on the $62.5 million complex is scheduled to begin this year.
The Boston Scientific facility site is part of an area planned for a broader mixed-use development. The Medley project, led by Toro Development, is set to include residential, retail, dining and entertainment venues. Toro in March acquired 43 acres from U.S. Realty Advisors for $44 million for the development.
About the Deal: Boston Scientific signed its prelease in May for the proposed facility to be developed on the former State Farm office campus site in Johns Creek. U.S. Realty Advisors was assisted in the process by brokers at Colliers. Pure Development, based in Indianapolis, is a development partner.
What the Judges Said: "Boston Scientific is creating a much-needed manufacturing hub, which will position Georgia in the forefront of the life science industry," said LuAnne Acton Ross, executive vice president at Asset Living.
They Made It Happen: Deming Fish and Jessica Doyle of Colliers represented U.S. Realty Advisors. David Grazioli and Ryan Fitzgerald worked on the deal for U.S. Realty Advisors. Paul Donhauser at Boston Scientific led his company's effort. Brynn Lockyer, John Lashar and David Nixon, all at CBRE, represented Boston Scientific.