Bethesda-based Meridian Group launches construction arm – Business Observer
The Meridian Groupa Bethesda, MD-based developer with a large presence in Washington, DC, is adding a construction arm to its business in response to post-COVID challenges facing the construction industry.
“Over the past two to three years, we have seen tremendous instability in construction costs and schedules due to supply issues and an unprecedented escalation in the cost of materials,” Jason Phillipssenior vice president of The Meridian Group, told Commercial Observer.
“We wanted to have a clearer view of these issues in the construction industry. Instead of relying on third-party general contractors, we wanted to be closer to these issues so we were in a better position to solve them,” Phillips said. This, in turn, will reduce risk to the company’s projects and ultimately provide a better level of service to its partners and more value to investors, he said.
New Meridian Construction Group will build projects that focus on thoughtful and innovative amenities and amenity spaces for tenants, Phillips said.
“As the company expands its footprint into new markets and industry segments, it will leverage its extensive owner/operator expertise and employ a collaborative general contracting approach,” he said. declared.
Meridian Group projects currently include collaboration with ARCO Industrial Design/Construction to build the 180 acres I-70 Gateway Industrial Warehouse project in Hagerstown, Maryland; a joint venture with industrial wickshire to build A logistics park, a 2.7 million square foot industrial space in Winchester, Virginia; and the renovation of 1500 Wilson Blvd.a 261,000 square foot office building in Rosslyn, Virginia.
“We are delighted to introduce Meridian Construction Group as we grow the business to enhance our competitive advantage in the marketplace and bring even greater value to our investors,” Mark King, president and chief operating officer of The Meridian Group, said in a prepared statement. “With best-in-class leadership, Meridian Construction Group will continue its long tradition of developing cutting-edge projects of unparalleled quality.”
Keith Loria can be reached at [email protected].