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Meridian and Harrison Street buy 431,000 SF office portfolio in Chantilly
The five-building portfolio in Fairfax County totals 431,000 square feet, and the buyers plan secure-facility upgrades and infrastructure modernization.
Meridian Group and Harrison Street Asset Management, alongside HLM Associates, have acquired a five-building office portfolio in Chantilly, Virginia, in a bid to attract national security, defense, and intelligence tenants, according to Commercial Observer.
The deal covers the Stoneleigh and Newbrook campuses in the Westfields submarket of Fairfax County, totaling 431,000 square feet across addresses including 4800 and 4840 Westfields Boulevard and 14150, 14151, and 14155 Newbrook Drive.
The partners said they plan to deploy additional capital to expand secure-facility capabilities and modernize infrastructure across the portfolio. Pricing was not disclosed by the buyers, though Commercial Observer noted Bisnow reported a sale price of about $67 million citing a source familiar with the transaction.
Harrison Street said the strategy targets specialized properties that benefit from government-related demand and have high barriers to entry, while Meridian’s chief investment officer described the acquisition as its first for a platform focused on secure, mission-critical facilities. Harrison Street also said it manages about $109 billion in assets, and records cited by Commercial Observer indicate an RMR Group affiliate sold the properties.