SHADY GROVE EXECUTIVE CENTER, a first-class five-building, 570,000 square foot office portfolio, along with two office development sites for 210,000 square feet, located at the intersection of I-270 and Shady Grove Road in Rockville, Maryland was acquired from a partnership of IBM and Spaulding & Slye in October 2001 for $90 million.

Meridian sold the buildings in 2003, and has retained the two development sites which are available for build to suit tenants.