BETHESDA METRO CENTER, a landmark 750,000 square foot mixed use development located above the Bethesda Metro station on Wisconsin Avenue in downtown Bethesda, Maryland was acquired by Meridian from CRI in October 1999. 

The complex includes a 17-story 365,000 square foot office building, the 390-room full service Hyatt Regency Bethesda Hotel, a 19,000 square foot food court, a garage with 1,305 parking spaces, and an outdoor pedestrian plaza. The office building and hotel both feature full height atriums with glass elevators. The office building was 80% leased, at rents below market, at acquisition.
 
Bethesda Metro Center has been repositioned and improved through capital projects and intensive asset management. A $6 million renovation of the Hyatt was recently completed including hotel rooms, meeting space and garage parking.  A new master plan was publicly approved for the renovation of the plaza, food court, and hotel restaurant space. The plaza was redesigned to create an urban park setting with fountains and new landscaping which are integral to the surrounding food court and hotel restaurants. The plan attracted two new restaurants to the complex, Morton’s of Chicago and Daily Grill in the hotel restaurant space.  The completion of the plaza improvements and these two new restaurants have transformed Bethesda Metro Center into a dynamic urban setting for residents and tenants.

Major capital improvements have also recently been completed in the office building, including the renovation of the main office lobby, elevators, corridors and restrooms. 3 Bethesda Metro Center is now approximately 99% leased.