In November of 2006 two investment funds sponsored by Meritage, in partnership with an affiliate of GTIS Partners, acquired the 237,182 SF office building known as The Atrium at Rock Spring Park in North Bethesda, Maryland. On July 23, 2015 Meritage, in joint venture with TFO USA Limited acquired the property from prior ownership in a partial purchase and partial recapitalization of the asset. The property is situated in the heart of Rock Spring Park and at the intersection of I-495, I-270, and Democracy Boulevard, a compelling location for tenants seeking a first class park like setting in the heart of Greater Washington’s biotech corridor, with easy access to and from downtown Washington.
Since Meritage’s original acquisition of the Property in 2006, the building has consistently outperformed its competitors in the Park, and was 100% leased for the period from 2007-2014. Originally designed for owner/occupant IBM, The Atrium benefits from triple power redundancy, being supplied from three different power grids, outstanding building infrastructure, and a series of impactful building improvements made during Meritage’s ownership. As a result, the Atrium is headquarters and home to the CIT division of NIH.
Building amenities included a private courtyard, high ceilings, skylit open common areas, raised floors, adjacent structured parking a high quality food concession and an on-site first class children’s day care operation. 6555 Rock Spring also benefits from the extensive amenities contained within Rock Spring Park, including a landscaped park and water feature serving as our “front yard”.