The Meridian Group-Led Venture Pays $67M for Five-Building Virginia Office Portfolio

A venture led by The Meridian Group, together with Harrison Street Asset Management and HLM Associates, has acquired a five-building Class A office portfolio in Chantilly, Virginia for approximately $67 million, the firm announced Aug. 26, 2026.

The portfolio totals roughly 431,000 square feet and is situated within Westfields Corporate Center, a defense and intelligence contracting cluster located approximately seven miles south of Dulles International Airport along the Route 28 corridor in Fairfax County. The implied pricing is approximately $155 per square foot. The seller is an affiliate of The RMR Group.

Portfolio Overview: Stoneleigh and Newbrook Campuses

The five buildings are organized across two campuses — Stoneleigh and Newbrook — within Westfields Corporate Center.

The Stoneleigh campus comprises two buildings along Westfields Boulevard. Stoneleigh I, at 4800 Westfields Blvd, spans approximately 109,958 square feet and was built in 2006. Stoneleigh II, at 4840 Westfields Blvd, adds approximately 106,547 square feet, bringing the combined Stoneleigh campus to roughly 216,500 square feet.

The Newbrook campus consists of three buildings on Newbrook Drive. Newbrook I, at 14101 Newbrook Drive, totals approximately 69,679 square feet and was built in 1999. Newbrook II, at 14155 Newbrook Drive, is a four-story building of approximately 82,859 square feet. Lakeside II at Westfields, at 14120 Newbrook Drive, contributes approximately 92,024 square feet. Together, the Newbrook campus accounts for roughly 244,500 square feet.

Defense and National Security Tenant Focus

The Westfields Corporate Center submarket is characterized by a high concentration of secure facilities serving federal agencies and large defense contractors. The joint venture's stated investment thesis centers on national security and defense-oriented demand in the Route 28 corridor, where tenants frequently require specialized secure space, including SCIF-capable buildouts.

The venture has outlined plans to invest additional capital in secure facility upgrades, infrastructure modernization — including building systems, connectivity, and redundancy improvements — and amenity enhancements designed to meet the operational requirements of national security tenants.

Value-Add Strategy in a Constrained Submarket

The acquisition reflects a value-add approach, with upside tied to converting additional space into mission-critical and secure buildouts, re-leasing existing space at current market rates, and pursuing longer-term leases with federal and major defense tenants. The Westfields corridor's constrained supply of purpose-built secure office space underpins the repositioning strategy.

The Meridian Group is headquartered at 3 Bethesda Metro Center in Bethesda, Maryland.

Sources

The Meridian Group — Meridian Group-Led Venture Pays $67M For 5 Virginia Office Buildings