WASHINGTON, D.C. (April 7, 2016) – MRP Realty, developers of commercial, residential and mixed-use real estate across the Mid-Atlantic region, announced today that it signed over 100,000 square feet of new and renewal leases for its Urban Industrial portfolio in the Northern Virginia Industrial Park and Fullerton Industrial Park.
Located at the intersection of Telegraph Road and Lockport Place near Interstate 95, the Northern Virginia Industrial Park is an ideal location for companies serving northern Virginia and the Washington, D.C., metro area. Each building in the portfolio has multiple dock doors and drive-in bays, clear-ceiling heights of 18 to 22 feet and the ability to serve both large and small-bay tenants. Fullerton Industrial Park is located off Fullerton Road in Springfield and has four industrial buildings totaling 241,413 square feet.
“The Lorton submarket is the second largest industrial market in Fairfax County and is strategically located along I-95, near a Virginia Railway Express station,” said John Dalton of MRP. “We continue to believe Northern Virginia is a high-growth area, enjoying the changing dynamics of our region and the expansion of Fort Belvoir. These new leases and renewals reflect our strategy responding to that trend.”
“We were successful in leasing over 100,000 square feet in a very short period of time due to the high quality of ownership and professionalism MRP delivers,” said Dan Coats of JLL. “They approach the leasing process with creativity and offer exceptional tenant services – management that urban industrial tenants demand and deserve.”
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., Baltimore, Philadelphia, 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 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 four seven million under management.