Meridian Group Buys Another Office Building To Add To The Boro
The Meridian Group announced Monday it purchased 8280 Greensboro Drive, a Class-A office building adjacent to The Boro, a 4.2M SF mixed-use development the company is developing in Tysons. The nine-story building was owned by the Los Angeles County Employees’ Retirement Association, which sold it for an undisclosed sum, under the name Gateway Coastal Properties Inc.
The last sale was in 1997 for $30M, according to property records. The building is assessed for close to $41.5M, according to Fairfax County land records. The Greensboro Drive property is across the street from the Greensboro Metro Station and also includes four parking spots for every 1K SF of office.
Meridian will incorporate the building into The Boro, which was approved by the Fairfax County Board of Supervisors in 2016. While the company is at work with new construction, it has also made similar acquisitions of existing properties to grow the development. It purchased Tysons Metro Center, a 764K SF four-building office portfolio near The Boro, in February from Beacon Capital Partners. It is also partnering with the New York-based Rockefeller Group on the 20-story Boro Tower, where it broke ground in summer 2016.
While Boro Tower includes such tenants as the media company Tegna and law firm Hogan Lovells, Meridian is also trying to lure a corporate whale to Tysons.
Meridian Group and Kettler partnered on an Amazon HQ2 bid to propose The Boro as a contender. The bid envisions the e-commerce giant spread out across several properties, including Boro Tower and Tysons Metro Center. The Meridian bid is not the official bid from Fairfax County, which has partnered with Loudoun to offer a large site that straddles the border between the two suburban municipalities.