ATLANTA-Boston-based investment company GID Investment Advisers LLC has acquired 42 acres in Perimeter Center at the corner of Hammond Drive and Perimeter Center Parkway. The purchase, from Equity Office, included three office buildings with 487,368 sf of space.

GID, which is a division of the General Investment & Development Cos., acquired the site through its urban development group and plans to build a mixed-use development. The acquisition price was not disclosed. GID plans to spend the next three to six months gathering input from local officials and neighborhood group before creating a master plan for the site. The office buildings are occupied, GID senior vice president, general investment and development Jeff Harris tells GlobeSt.com.

“We like the perimeter area,” Harris says. “We want to build something that knits the fabric of perimeter area, something that’s pedestrian and transit-friendly.

The site, across from Perimeter Mall and the Dunwoody Marta station, is part of the Perimeter Center Improvement District. The district is a self-taxing district that encompasses both the DeKalb and Fulton Perimeter CIDs to foster transportation and infrastructure improvements projects. “We look forward to working with GID Investment Advisers to help create a development that truly enhances the community and creates a destination for the region,” said Robert Voyles, DeKalb PCID chairman and CEO.

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