A city-owned office building at 4555 North Shallowford Road in Dunwoody is on the market to the highest bidder.

The City Council voted last month tosell the building, which is now being leased by Emory Healthcare. Emory’s lease expires in 2024. Bids are being accepted through Nov. 1.

Dunwoody is seeking buyers for the 4555 North Shallowford Road building currently being leased by Emory Healthcare. (Google Earth)

No specific plans have been made for what to do with the money should the building sell, but city consensus is centering on using it for capital improvements, such as parks.

“We are talking of [using the money] for serious capital improvements, not on day-to-day funding,” Councilmember Jim Riticher said at the July 8 council meeting.

Councilmember John Heneghan said the property was purchased to be used as parkland, but the sale of the property could bring in enough money to be used in other areas of the city, including a potential pocket park in Dunwoody Village. Other possible uses include funding at Brook Run Park’s capital projects now underway or the old Austin Elementary School site once it is vacant.

The city purchased the building for more than $1.8 million in 2012 as part of a $5.5 million purchase 19 acres at 4553, 4555 and 4575 North Shallowford Road.

The property at 4575 North Shallowford was redeveloped and is now Pernoshal Park. Emory Healthcare also leases an office building at 4553 North Shallowford.

In 2011, the city discussed redeveloping the 19 acres into park space as part of its discussion on its $60 million parks bond referendum.

Voters overwhelmingly rejected the parks bond, so the city took out a loan to buy the 19 acres, said Economic Development Director Michael Starling.

“We were going to do the deal regardless of the bond vote,” he said. “When the bond failed, we took out a loan to buy the property.”

Parks were not promised as part of the purchase of the property, but had the bond been approved the site would have likely become park space, Starling said.

The 4555 North Shallowford Road building is 22,000 square feet and sits on approximately 2 acres. It is for sale through the city’s real estate broker, Colliers International.