Update: GlobeSt.com spoke with The Meridian Group’s Gary Block after publication. Read “We Did Not Have A JV Structure In Mind At The Beginning”
TYSONS, VA–The Meridian Group and Rockefeller Group have formed a JV to co-develop Boro Tower, a 20-story, 437,000-square-foot trophy office building at The Boro development here.
This will be Rockefeller Group’s first development in the greater DC market, according to a prepared statement by Daniel Moore, EVP and Head of Urban Development for the New York-based company.
The tower is already more than 20 percent pre-leased to TEGNA, which is taking 46,000 square feet on the top three floors for its headquarters and to Hogan Lovells, which is leasing 44,500 square feet to occupy the Tower’s entire 17th floor and half of its 16th floor.
“Boro Tower is drawing considerable interest from a number of blue-chip companies and organizations,” Gary Block, Chief Investment Officer of The Meridian Group, says in a prepared statement.
The LEED Gold-designed Tower will feature a glass curtain wall, 9- to 10-foot ceilings and floor plates that minimize columns and maximize daylight and views. There will also be a rooftop terrace. The Gensler-designed Tower is part of The Boro’s 1.7 million-square-foot phase one. Now under construction, the first phase consists of approximately 260,000 square feet of retail, 700 residential units, and 500,000 square feet of office space.
The $825 million first phase will include Whole Foods Market, which is planning a 69,000-square-foot flagship location, and ShowPlace ICON Theatre.
The Meridian Group was unable to return a request for comment immediately.