MRP Realty, together with joint venture partners Snell Properties and SJG Properties, has acquired 10 G Street NE, a 270,660-square-foot office building in Washington, D.C. The transaction adds a large Capitol Hill-adjacent asset to the partnership’s portfolio and reflects continued investor interest in well-located office properties in the District. The building, completed in 1997, was originally developed in a venture between Trammell Crow Company and the American Psychological Association.
The office property is positioned between Union Station and the U.S. Capitol, placing it within a key federal and legislative corridor. Its location at the corner of North Capitol and G Streets offers convenient access for tenants that require proximity to Capitol Hill. According to the parties, this access was a central factor in the partnership’s decision to pursue the acquisition.
MRP Realty will provide both asset management and property management services for 10 G Street NE. The eight-story building is currently 60% leased, indicating significant remaining lease-up potential. Existing tenants benefit from an on-site fitness center and a 187-space parking garage, amenities that support daily occupier needs. The property also features a green roof garden and a labyrinth, which are positioned as enhancements to the tenant experience and building environment.
In a joint statement, MRP Realty managing principal Bob Murphy, Snell Properties president and CEO Chris Hanessian, and SJG Properties president Ashley Wiltshire said the partnership was drawn to 10 G Street because it serves firms with a strong in-office presence that need seamless access to Capitol Hill meetings. Their comments underline the continued role of location and access to government institutions in driving demand for certain segments of the Washington, D.C. office market.
On the capital markets side, Shaun Weinberg of Cushman & Wakefield represented the seller in the transaction. While specific pricing and financing terms were not disclosed, the structure of the deal as a joint venture acquisition and the involvement of an institutional brokerage underscore ongoing investment-sales activity for large, strategically located office assets in the District. The building’s current occupancy level, amenity package, and location suggest that future asset management will focus on capturing additional leasing demand from tenants that require proximity to federal and legislative offices.
