MRP Realty Acquires Suburban DC Office Complex
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Liberty Park, Herndon, Va.
Washington—MRP Realty just enhanced its suburban Washington, D.C., presence by a half-million square feet with the acquisition of the Liberty Park portfolio, an eight-building office campus in Northern Virginia’s Dulles technology corridor. MRP purchased the 532,000-square-foot asset from Liberty Property Trust for, according to the Washington Business Journal, approximately $97 million.
Built between 1998 and 2000, the low- and mid-rise Liberty Park buildings carry the addresses of 13605-13645 Dulles Technology Drive, 13655-13665 Dulles Technology Drive and 13461 Sunrise Valley Drive in Herndon. But MRP saw much more in the asset than a group of Class A and B office structures; it saw possibilities. The campus offers additional density and a prime location practically a stone’s throw from the future Silver Line Innovation Metro Station, scheduled to reach completion in 2020. MRP plans to capitalize on the property’s potential through a repositioning program and the addition of a series of premier amenities…
