From left: Rockefeller Group's Brandi Hanback, EVP of Industrial Development and Head of FTZ, Trade & Logistics; Daniel L. Rashin, Co-President and CEO; and Dan Moore, EVP and Head of Urban Development
The Boro has been the Meridian Group's baby for years now. A Tysons, VA-based sprawling mixed-use project, the first phase of the Boro consists of 1.7 million square feet of retail, residential and office space. Recently the Bethesda, MD-based company was delighted to be approached by the Rockefeller Group about co-developing a spec office project in the complex that the Meridian Group had already 20% pre-leased.
“They wanted to do a trophy office building in an A plus, urban core location near a metro station,” says Gary Block, chief investment officer of Meridian Group. “So we brought them in. We weren't looking for a capital partner for this particular deal but thought Rockefeller Group would be beneficial for the project.”
Rockefeller Group was delighted as well. The Boro tower that it is now co-developing represented an important step for the New York City-based company and the new phase on which it is embarking—namely, a major push for urban and industrial speculative development in certain markets across the US . . .
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Don't miss our other exciting features in the September Issue
REAL ESTATE NEW YORK 10 Names to Watch A cross section of homegrown businesses and projects with implications beyond the world of Big Apple real estate
OFFICE OUTLOOK Back On Solid Footing Whatever weakness office absorption may have shown of late, and the sector's fundamentals are looking strong for the rest of the year
Top Brokers: OFFICE Our roundup of some of the most successful leasing and investment sales professionals in the office real estate arena
MULTIFAMILY MATTERS Luxury Still Pencils Out Despite talk of overbuilding and oversaturated markets, developers are still gung-ho on high-end multi-family—with some caveats
Top Brokers: MULTIFAMILY We rank some of the most prolific investment sales agents in the apartment sector
MIDYEAR UPDATE Is CRE's Glass Half Empty, or Half Full? The industry's best data and brightest minds gauge the performance of, and expectations for, commercial real estate and capital in current global, regulatory and economic environment
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