Centurion Foundation Completes $95 Million Purchase of Northlake Mall Property

July 16, 2026 - 04:53

ATLANTA, July 15, 2026 -- Centurion Foundation has finalized its purchase of the Northlake Mall property in suburban Atlanta, marking a major step in the site's conversion into a medical campus. The $95 million deal includes the main mall structure and an adjacent building that formerly housed a Macy's department store. The nearby J.C. Penney location was not part of the acquisition.

The foundation plans to redevelop the property into a new Northlake Campus for Emory Healthcare. Under a long-term lease agreement, Emory will serve as the primary tenant for the sprawling complex. The project represents a significant shift for the aging retail property, which has struggled with declining foot traffic and store closures in recent years.

Centurion Foundation officials said the purchase signals a commitment to repurposing underused commercial real estate for healthcare services. The new campus is expected to bring medical offices, outpatient services, and support facilities to the site. No timeline for construction or the opening of the Emory facility has been announced yet. The transaction closed earlier this week, with both parties finalizing the agreement after months of negotiations.