Capital One buys $125M property in Tysons

An entity sharing an address with Capital One Financial Corp. has purchased $125 million in properties across the street from the bank’s Tysons headquarters.

Dolley Madison West, the entity, closed on multiple properties in the Scott’s Run area of Tysons between Feb. 24 and Feb. 26.

The properties purchased include:

• • 1700 Old Meadow Road: Purchased for about $22.1 million on Feb. 24 from an entity, Lincoln 1700 Old Meadow Road. The 1977 building, which was formerly the headquarters of Dyncorp International, offers 88,798 square feet on about 3.5 acres.

• • 1690 Old Meadow Road: Purchased for about $16 million on Feb. 26 from an entity, 1690 Old Meadow Holdings, which shares an address with Washington, D.C.-based real estate company Akridge. The two-story structure, built in 1974, was previously used as a GEICO training facility and sits on about 1.3 acres. In 2015, Akridge and a partner announced plans to redevelop the property into a 250,000-square-foot office building with ground-floor retail, but that never materialized.

• • 1651 Old Meadow Road: Purchased for about $21 million on Feb. 24 from an entity, Grant 1651 Old Meadow Road. The 3.3-acre property includes a six-story office building constructed in 1970.

• • A 2.59-acre parcel bordered by South Dartford Drive: Purchased for about $16.97 million from an entity, Johnson I 7600 Colshire.

• • A .75-acre parcel bordered by Anderson Road: Purchased for about $37.1 million from an entity, Westgate 1600 Anderson Road.

• • A 2.52-acre parcel bordered by Anderson Road: Purchased for about $11.6 million from Van Buren 1616 Anderson.

Except for 1690 Old Meadow Road, all of the properties are tied to entities that share the address 11 Madison Ave. in New York.

DLJ Real Estate Capital Partners is also connected with that address. The New York-based real estate company formed Cityline Partners in 2010 to develop real estate holdings in Tysons.

In the 2010s, Cityline Partners became the master developer for Scotts Run South, which received approval from the Fairfax County Board of Supervisors in 2013 to develop more than 6.6 million square feet of mixed-use development in Tysons.

So far, the development includes Archer Hotel Tysons, the Haden and Heming apartment buildings and the Mitre 4 office building. Last summer, Cityline Partners and Galerie Development, an Atlanta-based developer and operator of senior living communities, announced plans to build three towers for a continuing care facility on Colshire Drive.

Through an affiliate, Capital One Financial Corp. bought Scotts Run North in 2019 from an entity also tied to the 11 Madison Ave. address for $37 million. The property is now home to a temporary baseball stadium and a park.

Cityline Partners and Capital One Financial Corp. did not immediately return requests for comment Thursday.