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
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×