The $90.3 million price equates to $47.53 per sf for the 230-acre asset in the 3,200-acre University Research Park.
IBM remains as the lead tenant. The deal is one of the area's largest of its kind this year, according to Lane Holbert, Bailey Patrick and Ned Curran, the local Grubb & Ellis/Bissell Patrick brokers who handled the transaction.
Meridian, of Bethesda, MD, plans to upgrade offices and add to existing parking facilities. Meridian selected Trammell Crow Co. to lease and manage the building.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
