Meridian Group JV Pays $67M for DC-Area Office Portfolio
The collection previously traded in 2017.
A partnership comprising The Meridian Group, Harrison Street Asset Management and HLM Associates has acquired the Stoneleigh and Newbrook office campuses, a five-building portfolio in Chantilly, Va.
The RMR Group sold the 431,000-square-foot portfolio for a total of $67 million, according to Yardi Matrix information.
The collection previously changed hands in 2017 when RMR purchased the assets from Normandy Real Estate Partners for $73.5 million, the same source shows.
Office investment activity across metro D.C. maintained strong momentum in the first half of 2026, despite pricing below the national average. Through July, sales volume in the metro amounted to more than $1.7 billion, with assets trading at an average price of $164.18 per square foot, while the national average clocked in at $197.97 per square foot, according to a recent Yardi Matrix report.
D.C.’s figure stood slightly above Boston’s ($163.28 psf), Philadelphia’s ($110.32 psf) and Chicago’s ($89.37 psf), but well below those recorded by Manhattan ($575.14 psf), San Francisco ($542.94 psf) and Los Angeles ($238.23 psf).
The Stoneleigh and Newbrook campuses
The 216,145-square-foot Stoneleigh campus comprises Stoneleigh I & II, two five-story buildings delivered in 2006 on a 10-acre site located at 4800 Westfields Blvd. The office buildings feature 22,217 square feet floorplates and a multi-level parking structure with 843 spots.
The 214,800-square-foot Newbrook campus consists of Newbrook I, II & III, which feature three and four office buildings with floorplates ranging from 17,354 to 20,184 square feet. Completed between 1999 and 2000, the three buildings are situated at 14150 and 14151 Newbrook Drive.
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The two adjacent properties are just off Virginia State Route 28, which connects the area to the Dulles International Airport and downtown Washington, D.C., some 8 miles north and 33 miles east, respectively. Other major thoroughfares in the area include Interstate 66, U.S. Route 50 and Virginia State routes 657 and 286. Next to the Stoneleigh and Newbrook office buildings are Plaza East I & II, a two-building, 246,956-square-foot campus under Meridian Group’s ownership since 2021.
Recent office investment deals includes CIM Group’s sale of Highline at Greensboro, a 460,000-square-foot campus in Tysons Corner, in Washington, D.C.’s McLean suburb. The property changed hands for $77.5 million, in a transaction with Finmarc Management.
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