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MRP in the News
 

What About Bob
Washington Business Journal - 07.28.06

Bob Murphy is back on the scene with a $75 million office tower in Alexandria.

He and two other former Trammell Crow executives formed MRP Realty last year, creating the real estate investment and development firm to build speculative office and mixed-use towers.  They plan to have projects worth $150 million under construction before the end of this year.

Carlyle Overlook, MRP's first venture, broke ground last week. It's a 14-story spec building in Alexandria's 76.5-acre Carlyle development, where the U.S. Patent and Trademark Office is the anchor tenant.  MRP brought in Rockpoint Group as its capital partner to build the 250,000-square-foot office tower at 2318 Mill Road.

To mitigate some of its investment risk, MRP presold half the building to the American Society of Clinical Oncology, which will also occupy that much space.  The association is under contract to pay $50 million when construction is completed in January 2008.  The rest of the office tower will be leased out.

 

[Prabha Natarajan]


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The Bullet's in the Air

Three years after leaving Trammell Crow to start his own development firm, Bob Murphy, 47, talks about timing, the economy and his $1.5 billion in projects – enough to make even the most confident developer lose sleep.

 

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MRP Counts $350M of Projects in Pipeline

CHEVY CHASE, MD-MRP Realty, a development firm founded by Bob Murphy, Fred Rothmeijer, and Ryan Wade--three former Trammell Crow executives--has kept a low profile since it opened its doors here last July.  That, though, is beginning to change as it commences construction on its first project, an office tower in the Carlyle section of Old Town Alexandria, VA.

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Gateway to the North - Washington Gateway leads NoMa growth in D.C.

Serving as a northern anchor in the NoMa submarket is Washington Gateway, a 1 million-square-foot mixed-use project that will be located immediately north of the New York Avenue Metro station at the corner of the submarket between New York and Florida Avenues.  The $350 million development, being built by MRP Realty, will include two office towers, a 250-unit residential tower and a 150-key extended-stay hotel; and it has just been granted approval by the Washington, D.C., Zoning Commission.

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Verizon Vacates 380,000-SF Office

ARLINGTON, VA-Verizon has vacated its lease early from 1310 N. Courthouse Rd., a 380,195-sf, 11-story office building in which it is the sole tenant.  The building, located in the Courthouse submarket in the Rosslyn-Ballston corridor, was purchased by MRP Realty in a venture with Rockpoint Group LLC in January.

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What About Bob

Bob Murphy is back on the scene with a $75 million office tower in Alexandria.

He and two other former Trammell Crow executives formed MRP Realty last year, creating the real estate investment and development firm to build speculative office and mixed-use towers.  They plan to have projects worth $150 million under construction before the end of this year.

 

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