MRP Realty, in a joint venture partnership with Snell Properties and SJG Properties, closed the acquisition of 10 G Street NE, a 270,660-square-foot office building in Washington, D.C.
MRP will provide asset and property management for the property that is located between Union Station and the U.S. Capitol. Built in 1997 in a venture between Trammell Crow Company and the American Psychological Association, 10 G Street is currently 60% leased. Shaun Weinberg of Cushman & Wakefield represented the seller in the transaction.
The eight-story office is located at the corner of North Capitol and G Streets, and the property includes a fitness center and a 187-space parking garage, a green roof garden, and a labyrinth. “Our partnership group was initially attracted to this 10 G Street as it appeals to the strong in-office tenancy of firms that need seamless access to Capitol Hill meetings,” said MRP Realty Managing Principal Bob Murphy, Snell Properties President & CEO Chris Hanessian, and SJG Properties President Ashley Wiltshire in a joint statement.
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