The development team that proposed a 48-story tower as part of a 2.8M SF Tysons project is moving forward in assembling the site.

Clemente Development and its Saudi investment partner, operating as Tysons Development LLC, acquired the 1.8-acre parcel at the Spring Hill Metro station for $26M, according to property records. Transwestern represented the seller, BP Realty L.P., an entity controlled by Michael J. Peacock and Michael B. Peacock, the owners of the Peacock Buick dealership that has long stood on the site.

The parcel, at the corner of Leesburg Pike and Tyco Road, is the first piece of the View at Tysons site that team has closed on. The developers are under contract to buy the adjacent 7.1-acre parcel from the Cherner family, Transwestern Executive Managing Director Gerry Trainor said. He said the team is looking at buying additional, small parcels next to the site to possibly expand the project.

In May, the team applied to rezone the property to include 2.8M SF of development. The proposal is highlighted by a 48-story, vertical mixed-use building with retail on the first two floors, a hotel on the next 13 stories and condo units in the upper portion. At 615 feet, the tower would be 60 feet taller than the Washington Monument, and it would eclipse the Capital One HQ building, which will be the tallest in the region when it delivers.

The development, designed by Gensler, would also feature two rental apartment buildings, reaching 388 feet and 420 feet, and two office buildings at 310 and 335 feet tall. The buildings would surround a 4-acre public plaza, and would have 44K SF of retail on the first and second levels, plus a 25K SF performing arts center. The team is still awaiting a rezoning hearing before the development can move forward.

Clemente Development CEO Dan Clemente will discuss the project Thursday at Bisnow's Tysons Takeoff event at the Hilton Tysons.

CORRECTION, FEB. 7, 11:15 A.M. ET: A previous version of this story misspelled the name of the Cherner family. The story has been updated.