MRP Realty Development Shifts Into High Gear

CHEVY CHASE, MD-After a quiet start up phase, MRP Realty, a development firm founded last July by former Trammell Crow Co. executives Bob Murphy, Fred Rothmeijer and Ryan Wade, is shifting into high gear now that construction on its first project, a $75-million office tower in Northern Virginia, is under way.

MRP Realty is now concentrating on the next projects in its extensive pipeline, some of which were first publicly disclosed in an exclusive interview with GlobeSt.com this summer.

Wade tells GlobeSt.com that the firm is closing on land in Downtown DC between New York Avenue and Florida Avenue and is hopeful the company will begin construction on a 950,000-sf mixed-use development this year. The project will include two office buildings, a hotel and some residential housing, he says.