Meridian Group Purchases VA Office Building
- Jan 03, 2019
TH Real Estate has sold 2500 Wilson Blvd., a 104,347-square-foot, Class A office building in Arlington, Va. According to Yardi Matrix, The Meridian Group bought the property for $39 million, while Square Mile Capital provided acquisition financing.
The Meridian Group plans to renovate the five-story property, which features modern lobby finishes and a landscaped on-site park. The LEED Gold asset was completed in 1986 and is currently 85 percent occupied by a diverse roster of tenants, including Pantheon, Arlington Hearing Center and IDS International. However, one of the tenants leasing 46 percent of the property, will move out next year.
Located in the midst of the Clarendon/Courthouse submarket, the building sits close to restaurants, cafes and retailers, including the 240,000-square-foot Market Common Clarendon, as well as Whole Foods Market and Trader Joe’s. The nearby Courthouse Metro station and major thoroughfares such as routes 29, 50, Interstate 66 and George Washington Memorial Parkway provide easy access throughout the area. Additionally, 2500 Wilson Blvd. is ideally positioned in the Rosslyn-Ballston Corridor, which is well connected to the rest of the Washington, D.C., metro area.
Newmark Knight Frank’s James Cassidy and Jud Ryan represented TH Real Estate in the transaction, while Joe Donato and Kassi Saridakis acted on behalf of the buyer and arranged the acquisition financing. In a recent deal, a Meridian joint venture purchased another office building nearby.
Image courtesy of Yardi Matrix