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TYSONS CORNER, VA-The big deal of the week, thus far, in the Washington DC area is without a doubt Meridian Group’s agreement to purchase Science Applications International Corp.’s landmark 18-acre corporate headquarters campus. The first stage of the deal consists of the trade of four office towers totaling 900,000 square feet and a 600,000 square foot sale leaseback with SAIC. SAIC has filed plans to redevelop the property with an additional 3 million square feet of mixed uses, including office, residential, retail, and hotel. Meridian will take over these plans.

The initial phase of the deal — that is, the sale of the towers, and lease back to SAIC — is clocking in around $85 million. The other parcels will likely close in the range of $120 million to $140 million, according to a securities filing, assuming nothing dramatically changes in the development plan.

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