WASHINGTON, DC — Akridge and the Ronald D. Paul Companies have acquired 1690 Old Meadow Rd. in Tysons, Virginia and plan to redevelop it into a modern, 250,000 s/f office building with ground floor retail and a full host of on-site amenities.
The property sits directly across the street from the McLean Metro Station and planned Wegmans grocery store. It offers easy access to the Capital Beltway and Dolley Madison Blvd. and will include 11 stories of trophy office space atop a five-story parking garage.
The building is being designed by KGD Architecture and will feature a 15-story, curved, glass curtain wall and offer an array of amenities, including a conference facility, in-building wireless, an onsite restaurant, and a landscaped terrace with common space and bocce courts.
The sale of 1690 Old Meadow Rd. resulted from a tri-party agreement with GEICO and Merritt Properties. GEICO is relocating its current training facility to a new, state-of-the-art facility designed and built specifically to meet its needs and located in Merritt’s Ashbrook business park.
Jeff Groh and Michael Blyumin from JLL represented GEICO and Joseph Svatos represented Akridge and the Ronald D. Paul Companies in the real estate transaction, while Akridge’s Andrei Ponomarev represented GEICO in the development and construction phase of the project.
“Akridge is eager to expand its presence in Northern Virginia and to invest in the Tysons market,” said Matt Klein, President of Akridge. “The opening of the Silver Line and Tyson’s planned growth will have a tremendous impact on the region. Akridge is excited to deliver this trophy-quality, boutique space to the burgeoning market.”