In a deal that will eventually give it control over 18 acres of prime Tysons Corner real estate next to a new Metro station for the planned Silver line extension of the region's Metrorail service, Bethesda-based The Meridian Group announced it has agreed to buy four office buildings totaling 900,000 square feet and the rights to redevelopment plans for large-scale mixed-use development from defense contractor Science Applications International Corp. (SAIC). Meridian said the property acquisition will be funded through its latest $160-million discretionary real estate fund raised from major investors-- Meridian Realty Partners I. "This new property is uniquely positioned with a great location adjacent to Metro and retail amenities, and it fits our investment strategy for value-add transactions very well,"said Gary Block, managing director of The Meridian Group, in a statement announcing the agreement. The SAIC corporate campus is located along Route 7 at the new Tysons Central 7/Greensboro Metro station, which is expected to open in early 2014. Bounded by Westpark Drive and Greensboro Drive, the three-building complex includes 1707, 1709 and 1710 SAIC Dr. SAIC will lease back one of the buildings for seven years and vacate two of the other buildings within a year. Meridian plans to spend $20 million to renovate the two buildings SAIC is leaving and offer them for lease to other tenants. A fourth building on Greensboro Dr. is currently vacant and will be demolished for redevelopment. Prior to the sale agreement, an affiliate of SAIC filed plans with Fairfax County to redevelop a portion of the site to add an additional 3 million square feet of new office, residential, retail and hotel space. Meridian has assumed control over those plans and the future development of the property. "In addition to a $20 million renovation to rebrand and reposition the three-building complex, we are... also excited about the development opportunities at this location and plan to create value through the new development plan," said Meridian President David Cheek.