DeKalb County Announces Acquisition of 4380 Memorial Drive

DeKalb County has completed the purchase of 4380 Memorial Drive, a key property in South DeKalb that spans 24 acres and includes 200,000 square feet of existing buildings. The $18,095,000 acquisition was financed through a 10-year, tax-exempt bond issued by the DeKalb Urban Redevelopment Authority.

“After renting this property for 25 years, DeKalb County now owns it and that’s a major win for our future,” said CEO Lorraine Cochran-Johnson. “We’re looking forward to making this site work for the community as part of our long-term commitment to building economic development in DeKalb.”

Leading the transaction was Jacob Vallo, the county’s first Chief Development Officer and a longtime real estate investor in metro Atlanta.

“This land is a transit-oriented development site near MARTA’s Kensington station,” said Vallo. “It serves as a significant opportunity to increase the momentum of the Memorial Drive revitalization.”

To complete the purchase, the DeKalb Urban Redevelopment Authority issued an $18,270,000 bond, which was purchased by Regions Capital Advantage, Inc. (Regions Bank).

Decide DeKalb in partnership with DeKalb County will help in identifying a developer for a mixed-use project to support long-term growth and community impact.