Meridian Group Grabs VA Trophy Tower
The acquisition fuels the company's investment strategy, initiated by the development of an $825 million mixed-use project situated across the building.
By Corina Stef
8280 Greensboro Drive, Tysons, Va.
The Meridian Group has acquired a 209,669-square-foot premier office building in the heart of Tysons, Va. According to Yardi Matrix, the seller was RREEF Property Trust, Deutsche Asset Management’s real estate platform.
The nine-story property was completed in 1985 and spreads across 2.6 acres. Amenities include a new conference center with flexible layouts, fitness center with lockers and showers, on-site eatery, 829 parking spaces and a landscaped entry plaza with a waterfall and outdoor seating. Additionally, the LEED Gold-certified asset is 83 percent occupied by a diverse roster of tenants, including Mortenson Construction, Net ESolutions and Analytic Strategies.
Fast-evolving community
The asset is located at 8280 Greensboro Drive in Meridian’s emerging Boro District, which encompasses multiple award-winning buildings such as The Boro, a 4.2 million-square-foot, $825 million mixed-use development, which will include the area’s largest Whole Foods Market and an iconic movie theater. Neighborhood amenities include retailers, entertainment options, eateries and the Greensboro Metro station, which provides easy access to major roads such as the Dulles Toll Road, Capital Beltway, Interstate 66 and Route 7.
Cushman & Wakefield’s Bill Collins, Drew Flood and Sean Collins represented the seller in the transaction, while Marshall Scallan procured the loan on behalf of the buyer. Â
The property previously changed hands in 1997, when RREEF purchased it from The Balcor Co. for $30 million.
Image courtesy of The Meridian Group
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