Akridge, Ronald D. Paul Cos. to Redevelop Metro DC Property into Trophy Office Building

TYSONS, VA. — Akridge and the Ronald D. Paul Cos. have acquired 1690 Old Meadow Road in Tysons, a Virginia suburb of Washington, D.C., for $7.6 million. The pair plans to redevelop the existing 13,000-square-foot training facility for GEICO into a 250,000-square-foot office building. Upon completion, the 11-story project will sit atop a five-story parking garage and offer ground-floor retail space and on-site amenities such as a conference facility, in-building wireless, a restaurant and a landscaped terrace with common space and bocce ball courts. The property sits directly across the street from the McLean Metro Station and planned Wegmans grocery store. KGD Architecture is designing the redevelopment. The sale of 1690 Old Meadow Road resulted from a tri-party agreement with GEICO and Merritt Properties. GEICO is relocating its current training facility to a new build-to-suit facility in Merritt’s Ashbrook business park in Ashburn, Va. Jeff Groh and Michael Blyumin of JLL represented GEICO, and Joseph Svatos of Akridge represented the buyers in the transaction. Andrei Ponomarev of Akridge represented GEICO in the development and construction phase of the project.