Akridge JV Plans Office Redevelopment in Tysons
- Nov 30, 2015
By Adriana Pop, Associate Editor
Plans call for the transformation of a single-story, 13,000-square-foot structure into a modern, 250,000-square-foot building with 11 stories of trophy office space atop a five-story parking garage and ground-floor retail space.
The building is located directly across the street from the McLean Metro Station and planned Wegmans grocery store, offering easy access to the Capital Beltway and Dolley Madison Boulevard.
The joint venture bought the property under a tri-party agreement with GEICO and Merritt Properties for a reported $7.6 million, according to Virginia Business. GEICO will be relocating its current training facility to a new building designed specifically to meet its needs and located in Merritt’s Ashbrook business park.
Designed by KGD Architecture, the new high-rise will feature a 15-story, curved glass curtain wall and offer an array of amenities, including a conference facility, in-building wireless, an onsite restaurant, and a landscaped terrace with common space and bocce courts.
Jeff Groh and Michael Blyumin from JLL represented GEICO and Joseph Svatos represented Akridge and the Ronald D. Paul Cos. in the transaction. Akridge’s Andrei Ponomarev represented GEICO in the development and construction phase of the project.
“Akridge is eager to expand its presence in Northern Virginia and to invest in the Tysons market,” said Matt Klein, president of Akridge. “The opening of the Silver Line and Tyson’s planned growth will have a tremendous impact on the region. Akridge is excited to deliver this trophy-quality, boutique space to the burgeoning market.”
Rendering courtesy of JLL