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Meridian Group pays $65M for Va. building; Queens, NY, land trades for $45M


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Meridian Group pays $65M for Va. building; Queens, NY, land trades for $45M

This feature rounds up recent commercial property news and highlights larger deal coverage already published.

* The Meridian Group acquired the 209,669-square-foot, nine-story office building at 8280 Greensboro Dr. in McLean, Va., for approximately $65 million, reported.

* United Construction and Development Group President Chris Xu and Brian Pun of FSA Capital sold a land parcel at 39-02 Janet Place in Queens, N.Y., to Hengxing LLC for $45 million, The Real Deal reported.

* Security Properties paid about $42.8 million to acquire the 256-unit Martinique Bay multifamily property in Henderson, Nev.

* Vesper Holdings bought the 560-bed The Social at South Florida student housing community near the University of South Florida at a discounted price of $26 million in an off-market deal and plans to invest more than $1 million in CapEx.

* First Industrial Realty Trust Inc. acquired the 172,120-square-foot Pompano Business Center warehouse/distribution building in South Florida for $22.7 million and signed a long-term lease for 19,000 square feet with Stoncor Group Inc., bringing the facility to 100% leased.

* Rexford Industrial Realty Inc. agreed to sell its property at 200-220 S. Grand Ave. in Santa Ana, Calif., to 6110-6114 Cahuenga Avenue LLC for about $4.4 million in a deal set to close in the first quarter of 2018.

* Raytheon Co. renewed its 440,130-square-foot lease at Piedmont Office Realty Trust Inc.'s Presidential Way 225 and Presidential Way 235 in Woburn, Mass., through 2024.

* Real estate startup Perchwell signed a seven-year lease for 3,500 square feet at SL Green Realty Corp.'s The Soho at 110 Greene St. in New York, The Real Deal reported.

* Ernst & Young re-signed for 120,000 square feet at Brookfield Properties' EY Plaza at 725 S. Figueroa St. in downtown Los Angeles for 10 years, The Real Deal reported.

Additional coverage

Morgan Stanley fund pays $186M for Seattle office building

Chatham Lodging Trust pays $68M for Springfield, Va., hotel

Hostway expands into Digital Realty's Austin, Texas, facility

Okta to set up HQ at Kilroy Realty's San Francisco office tower

Macerich to break ground on athletic and entertainment facility in Phoenix