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Majority stake in Virginia office complex sells for $244m
Transactions - APRIL 13, 2018

Majority stake in Virginia office complex sells for $244m

by Andrea Zander

The Meridian Group has sold a 95 percent majority interest in the three-building complex in Tysons, Va., to MetLife Investment Management.

The sales price for the 640,000-square-foot Greensboro Station office campus was $244 million. Meridian acquired the asset in 2013 for $85 million from Science Applications International Corp.

Meridian will retain a minority interest and continue day-to-day management of the property.

Greensboro Station comprises three recently renovated office towers with a 1,602-car parking garage. The $60 million renovation included an addition of a conference center and a Starbucks, replacing mechanical systems, upgrading common areas and reorienting the property toward the Metro station with a new entrance.

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