A joint venture of New York-based Meritage Properties and Maryland-based Buchanan Partners acquired ownership of Metro-Plex I and II, two class A office buildings totaling 293,000 square feet in Landover, Md.

The total value of the transaction was not disclosed.

Metro-Plex I, built in 1980 and partially renovated in 2002-2003, has six floors with approximately 106,000 square feet and is located at 8401 Corporate Drive. Metro-Plex II at 8201 Corporate Drive was built in 1982 and towers above the Washington Beltway with 13 floors totaling 187,000 square feet. The property also includes a building site approved for up to 200,000 square feet of development.

Metro-Plex I and II currently house nearly 70 tenants, including Mitre Corp., the Department of Labor, Heery International, O’Brien & Gere Engineers, and the National Association of Minority Automotive Dealers.

Nathan added that the Metro-Plex complex also offers extensive amenities including a full-service deli, health club, abundant free parking, and a nearby Courtyard by Marriott hotel.

William Collins and Paul Collins of Cassidy & Pinkard represented the seller, MGP Real Estate LLC, and Bill Morris of Advantis represented the joint venture in the transaction.

***

What’s your opinion? Send your Letter to the Editor to newsroom@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Announcing Inman Connect Now, our first fully digital event.Reserve Your Seat×