An affiliate of Central Colo, a national data center operator, and Legacy Investing, a Northern Virginia-based real estate investment company have jointly purchased the Tysons Technology Center in Vienna, VA. The 280,000 square-foot campus sold for $96 million, or just under $343 per sqf. The center includes a 199,560 sqf office and data center building and a 79,890 sqf office building anchored by Leidos and GSA. The seller, the Meridian Group, purchased the complex from SAIC for $63 million in 2011 and invested a further $11 million in capital improvements. At the time of the sale the campus was 91 percent leased.
“This transaction fit our investment strategy of acquiring underperforming assets and unlocking additional value,” Dave Gelfond, Meridian’s senior vice president said in a statement. “It was a repositioning opportunity where we converted substandard office space to data space and increased leasing from 63 percent at acquisition to 91 percent at sale.”
