The Meridian Group has picked up its next value-add Arlington County office building as it prepares to part with another property along the Rosslyn-Ballston corridor.
An affiliate of the Bethesda-based developer closed Wednesday on its acquisition of 2500 Wilson Blvd. and several adjacent parcels from an affiliate of TH Real Estate for a consideration amount of nearly $39 million, or roughly $373 per square foot, according to Arlington County land records. A source close to the deal put the actual sale price at nearly $32 million, or about $306 per square foot, but representatives for Meridian declined to comment on the sale price citing confidentiality.
TH Real Estate retained a Newmark Knight Frank team including James Cassidy and Jud Ryan to seek buyers for the property, which is assessed at a combined $38.3 million, as Cambridge Associates prepares to move out of the five-story building’s top floors next year. Its departure will bring occupancy in the 104,347-square-foot building,…Read the full story from the Washington Business Journal.