Matan refinances with Eagle Bank; teams up with C&W and GTM Architects for repositioning
McLean, VA — Matan Companies confirmed that it has closed on a new loan with Eagle Bank and has plans for major capital improvements to their 143,000 s/f building located at 1750 Old Meadow Rd. in McLean. The rebranded 1750 Tysons East will undergo a major transformation, taking advantage of its walkability to the Silver Line’s McLean Metro station. Matan has hired GTM Architects for the redesign, and the focus will be on making the building more appealing from the street and more pedestrian friendly. The redesign will also feature all new lobby, interior, and exterior common areas, bathrooms, deli, fitness center and conferencing center.
“We are happy to team up again with Eagle Bank,” said Matan Companies’ principal, Mark Matan. “We love the location and the building, and after 15 years as a single-tenant building it’s time for a major refresh.” The longtime tenant SageNet, formerly Spacenet, has been downsizing over the last several years and planning a move from the building when their lease expires in April 2016. Matan announced earlier in the summer that it had hired Cushman and Wakefield’s Northern Virginia-based team of Matt Bundy, Josh Masi, and Jon Mahaffey to head up the leasing assignment. “We are excited to team up with Cushman & Wakefield on this project,” said JP Matan, director of leasing for the Matan Companies.
“With the majority of our portfolio in Suburban Maryland, the Cushman team brings a track record and the relationships in Northern Virginia that we need on this project.” With this project and several others in the acquisition pipeline, Matan is looking to increase their presence in the Northern Virginia/Tysons market. “Our team is thrilled to partner with Matan in repositioning this Metro-located Tysons asset with Beltway signage and great access,” said Bundy. “This unique full-building opportunity will provide an efficient and attractive solution as Matan renovates the building, solving for tenants’ millennial workforce desires of 2016 and beyond.”