ROCKVILLE, MD—MRP Realty and Artemis Realty Capital have partnered to acquire Twinbrook Metro Plaza, a 169,189-square foot office building, for $15.5 million, or $92 per square foot. TA Realty is the seller.
MRP Realty has confirmed the acquisition to GlobeSt.com although it does not discuss pricing. It will be formally announcing the acquisition shortly.
At a 21% occupancy rate, Twinbrook Metro Plaza could be best described as a value-add opportunity. It last traded in October of 2005 for $52 million, according to public records.