Marietta sells Franklin Gateway property to MiRus, LLC

photo of Marietta City HallMarietta City Hall -- photo by Larry Felton Johnson

The City of Marietta announced on its website that it has entered into a contract with Marietta-headquarterd MiRus, LLC for the city to sell the company a 6.72-acre property at 550 Franklin Gateway.

The property was previously the site of the Marietta Flea Market, and MiRus intends to build its new headquarters there.

The city describes the transaction and the proposed redevelopment as follows:

Marietta had purchased the 6.72-acre site in October 2017 with funds from the 2013 Redevelopment Bond, passed by Marietta citizens for the purpose of funding the Franklin Gateway Redevelopment initiative.MiRus, LLC is a state-of-the-art biotech research and development firm founded in 2016 and headquartered in Marietta. MiRus, LLC is dedicated to creating groundbreaking treatments for patients suffering from debilitating diseases. They develop innovative medical device and procedural solutions for the treatment of spine, orthopaedic and structural heart disease. The MiRus, LLC team led by Jay S. Yadav, MD, an internationally recognized interventional cardiologist and founder of a number of successful companies has pioneered new treatments for stroke and heart failure patients. MiRus, LLC has seen rapid growth in size, including in employment. In 2016, MiRus, LLC had only 10 employees, and today they have grown to 115 employees. 

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The new headquarters will be a three-story facility comprising over 70,000 square feet. In addition to the many people who will be employed during the construction phase, MiRus, LLC plans to hire additional highly trained employees to join its existing workforce. With a high average salary for employees, MiRus, LLC seeks to employ a wide range of positions and specialties. MiRus, LLC stands apart as a unique biomedical corporation amongst the many healthcare companies that call Marietta home. MiRus, LCC will be an anchor on the northern end of the Franklin Gateway Corridor. 

About MiRus, LLC

MiRus, LLC is a biotechnology company headquartered in Marietta, whose main products are based on a proprietary alloy known as MoRe® used in medical implant devices.

The company’s website describes MiRus as follows:

MiRus is a life sciences company headquartered in Marietta, Georgia that has developed and is commercializing proprietary novel biomaterials, implants and procedural solutions for the treatment of spine, orthopaedic and structural heart disease. Find out more information about MiRus at www.mirusmed.com.

The founder and CEO of the company is Jay Yadav, MD.

About the City of Marietta

The City of Marietta is the county seat of Cobb County. The latest estimate from the U.S. Census Bureau puts the population of the city at 60,867 which makes it the largest city in Cobb County by population.

However, the city is in a neck-and-neck race with fast-growing Smyrna, whose population was 56,666 at the last estimate.

Here are a few fast facts from the Census Bureau

Marietta city, Georgia

2019 Population Estimates 60,867

Source: Vintage 2019 Population Estimates

Median Household Income $ 57,452

Source: 2015-2019 American Community Survey 5-Year Estimates

Persons in poverty, percent 14.0 %

Source: 2015-2019 American Community Survey 5-Year Estimates

Educational Attainment: Percent high school graduate or higher 87.7 %

Source: 2015-2019 American Community Survey 5-Year Estimates

Persons without health insurance, percent 18.1 %

Source: 2015-2019 American Community Survey 5-Year Estimates

Median Housing Value $ 287,600

Source: 2015-2019 American Community Survey 5-Year Estimates

Total Housing Units 26,878

Source: 2015-2019 American Community Survey 5-Year Estimates

Number of Firms 10,501

Source: 2012 Survey of Business Owners: Company Summary

Male Median Income $ 36,894

Source: 2015-2019 American Community Survey 5-Year Estimates

Female Median Income $ 29,239

Source: 2015-2019 American Community Survey 5-Year Estimates

Veterans 3,132

Source: 2015-2019 American Community Survey 5-Year Estimates

Percent of households with a broadband Internet subscription 84.9 %

Source: 2015-2019 American Community Survey 5-Year Estimates

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