Real Estate

SAIC Sells Tysons HQ to Meridian Group

Contracting company will sell its 18-acres and the deal is expected to close in June.

Science Applications International Corp. (SAIC), the McLean-based contracting and technology company, announced Monday its plan sell its Tysons campus to the Meridian Group, a Bethesda-based real estate company.

Washington Business Journal reports that SAIC sold its 18-acre headquarters at 1701 SAIC Drive for “as much as” $225 million. The site comprises four buildings in close proximity to the Silver Line’s Greensboro station, which is expected to open at the end of 2013.

The 18-acres currently hold four office buildings, a parking garage and surface parking lots. The deal is expected to close in June.

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The Journal reports that Meridian will seek zoning approval for millions of square feet in mixed-use development complete with office, residential, retail and hotel space.

While they wait for the rezoning process, Meridian plans to renovate the existing SAIC campus to the tune of $20 million.

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