Tysons Metro Center is very close to The Meridian's baby The Boro — a 3.7 million square foot development — as well as Greensboro Station, a three-building office complex totaling approximately 640,000 square. The proximity to these two assets were definitely was part of the appeal for the company. But even on a stand alone basis, the complex penciled in for Meridian, Andrew Pence, VP of The Meridian Group tells GlobeSt.com.

“We have seen a ton of leasing velocity at buildings located close to metro stations,” he says. That is because companies want transit-friendly buildings in order to more easily recruit Millennial talent, he adds.

“Another thesis behind this purchase is that The Boro, with all its amenities, will also be a lure for tenants for the same reason — to better recruit employees,” Pence says.

The company is working on a master plan to integrate Tysons Metro Center, Greensboro Station, and the mixed-use Boro development into an urban center that is walkable and has easy access to the Greensboro Metro station, according to David Cheek, president of the company. Already there has been some $26.9 million in capital improvement that Beacon Capital Partners made at Tysons Metro Center.

The complex, which is now 91% leased to 40 tenants, is anchored by Booz Allen Hamilton and Alarm.com. It consists of:

• Tysons Metro Center I at 8251 Greensboro Dr. The 12-story, 168,006-square foot building was built in 1984 and renovated in 2012.

• Tysons Metro Center II at 8255 Greensboro Dr. Constructed in 2002, the six-story, 129,916-square-foot building was renovated in 2015.

• Tysons Metro Center III at 8281 Greensboro Dr.: This 12-story building was constructed in 1980, then renovated in 2014 with $18.1 million in improvements. The building has 257,824 square feet of rentable space along with a conference center and 2,800-square-foot café.

• Tysons Metro Center IV at 8285 Greensboro Dr. The 13-story building, 208,219 square foot building was constructed in 1999 and later renovated.

HFF's Stephen Conley, James Meisel, Stephen Potts, Andrew Weir and Matthew Nicholson arranged the sale. HFF's debt placement team was led by Sue Carras, Cary Abod, Dan McIntyre and Rob Carey.

TYSONS, VA–An affiliate of Beacon Capital Partners has sold Tysons Metro Center for $227 million to the Meridian Group, a locally-based company that has a large – and still growing — footprint in the Tysons' area.

This sale follows a $1.05 billion recap and investment by the Singapore sovereign wealth fund GIC in three local properties owned by Beacon.

As for Tysons Metro Center, Beacon gave HFF the mandate to market the four-office complex for an outright sale. The broker also helped arrange a $175 million floating rate acquisition loan for Meridian Group through Starwood Property Trust.

Meridian acquired the 763,965-square-foot portfolio property under its recently closed Fund II, a $231.6 million discretionary fund focusing on the DC area property market. Meridian plans to acquire about $1.5 billion in assets with this fund using leverage and additional co-investment capital, according to Gary Block, Chief Investment Officer of Meridian.

Tysons Metro Center is very close to The Meridian's baby The Boro — a 3.7 million square foot development — as well as Greensboro Station, a three-building office complex totaling approximately 640,000 square. The proximity to these two assets were definitely was part of the appeal for the company. But even on a stand alone basis, the complex penciled in for Meridian, Andrew Pence, VP of The Meridian Group tells GlobeSt.com.

“We have seen a ton of leasing velocity at buildings located close to metro stations,” he says. That is because companies want transit-friendly buildings in order to more easily recruit Millennial talent, he adds.

“Another thesis behind this purchase is that The Boro, with all its amenities, will also be a lure for tenants for the same reason — to better recruit employees,” Pence says.

The company is working on a master plan to integrate Tysons Metro Center, Greensboro Station, and the mixed-use Boro development into an urban center that is walkable and has easy access to the Greensboro Metro station, according to David Cheek, president of the company. Already there has been some $26.9 million in capital improvement that Beacon Capital Partners made at Tysons Metro Center.

The complex, which is now 91% leased to 40 tenants, is anchored by Booz Allen Hamilton and Alarm.com. It consists of:

• Tysons Metro Center I at 8251 Greensboro Dr. The 12-story, 168,006-square foot building was built in 1984 and renovated in 2012.

• Tysons Metro Center II at 8255 Greensboro Dr. Constructed in 2002, the six-story, 129,916-square-foot building was renovated in 2015.

• Tysons Metro Center III at 8281 Greensboro Dr.: This 12-story building was constructed in 1980, then renovated in 2014 with $18.1 million in improvements. The building has 257,824 square feet of rentable space along with a conference center and 2,800-square-foot café.

• Tysons Metro Center IV at 8285 Greensboro Dr. The 13-story building, 208,219 square foot building was constructed in 1999 and later renovated.

HFF's Stephen Conley, James Meisel, Stephen Potts, Andrew Weir and Matthew Nicholson arranged the sale. HFF's debt placement team was led by Sue Carras, Cary Abod, Dan McIntyre and Rob Carey.