WASHINGTON, D.C. (August 31, 2016) – MRP Realty, developers of commercial, residential, mixed-use, and industrial real estate across the Mid-Atlantic region, announced today the firm acquired the Liberty Park portfolio, a 532,041-square-foot, eight-building campus in the Dulles technology corridor.
Liberty Park buildings one through five, located at 13605-13645 Dulles Technology Drive, consist of five single-story buildings. Buildings six and seven, located at 13655-13665 Dulles Technology Drive, are two and three stories, and building eight, located at 13461 Sunrise Valley Drive, is five stories. The portfolio, as close as 0.2 miles to the future Silver Line Innovation Metro Station (expected to deliver in 2020), has additional density that will be planned with new amenities to further add to the area’s offerings for tenants.
“Companies that are seeking to relocate or expand their operations have found increasing value in the Dulles corridor and the Liberty Park portfolio is an opportunity for MRP to reposition these buildings to reflect the shifting dynamics of today’s workforce,” said Cris White of MRP Realty. “In addition, the location of the Silver Line and forthcoming Metro stations will give yet another option for commuters to these properties in the near future.”
MRP will launch a value-add repositioning and leasing program for the Liberty Park portfolio and will bring Class A amenities to the buildings, including: a community tenant lounge and conference facility, a fitness center, and outdoor experiences to set them apart from other properties in the market.
Erik Berkman of Cushman & Wakefield represented the seller in the acquisition.
About MRP Realty
Founded in 2005, MRP Realty is a real estate operating company focused on opportunistic and value-add investment in the northeastern United States, with offices in Washington, D.C., Maryland, Virginia, and Pennsylvania, and New York City. MRP provides to its institutional capital partners a full array of real estate services including: acquisition/disposition, development/construction management, property management, asset management and financial reporting services. Since the company’s inception, MRP has deployed nearly $3.5 billion in total capitalization, with another $2+ billion of active residential, office, mixed-use, and industrial projects underway. MRP’s combined development assets total more than 16 million square feet, with an additional eight million under management.
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