Press Releases

June 20, 2018

Springfield/newington, va.– Transwestern today announces it brokered the sale of Northern Virginia Industrial Park and Fullerton Industrial Park, a 1.1 million-square-foot industrial portfolio situated in Northern Virginia, 13 miles south of Washington, D.C., to an undisclosed buyer for $143.3 million. The 19-building portfolio caters to the Washington metro last-mile logistics industry and local home improvement retailers. Gerry Trainor and Mark Glagola of Transwestern’s Mid-Atlantic Capital Markets Group represented the seller, MRP Realty and institutional investors advised by J.P. Morgan Asset Management.

“This transaction represents a confluence of the seller’s desire to capitalize on its successful repositioning and lease-up of the portfolio and the buyer’s desire to invest in well-located, light industrial facilities within a major metropolitan market that exhibits extremely strong demographics,” said Trainor. “Over 75 percent of the Interstate 95 Corridor’s inventory is over 30 years old and, as a result, has been the target of demolition and redevelopment to alternative uses. This, coupled with the continued population growth, has created significant demand for this ‘last-mile’ industrial product.”

According to market research by Transwestern, more than 1.6 million square feet of the industrial product in the I-95 Corridor, equating to 5.3 percent, has been demolished since 2010 with another 3 percent of the inventory slated for demolition by 2020. The dwindling supply of industrial product is compounded by the mature infill location with high barriers to entry, which mitigates future industrial development.

The portfolio is one of the largest of its type in the Washington metro. Located along Interstate 95 in Springfield, Virginia, the portfolio provides critical mass, representing nearly 10 percent of the Springfield/Newington submarket. The portfolio comprises 15 buildings totaling 813,955 square feet in Northern Virginia Industrial Park at Lockport Place and Telegraph Road in Newington, Virginia, and four buildings totaling 241,994 square feet in Fullerton Industrial Park at 7401, 7664, 7666, 7668 Fullerton Road in Springfield.



Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Tenant Advisory, Capital Markets, Asset Services and Research, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Based in Houston, Transwestern has 35 U.S. offices and assists clients through more than 211 offices in 36 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at and @Transwestern.

About MRP Realty

Founded in 2005, MRP Realty is a real estate operating company focused on opportunistic and value-add investment in the northeastern United States, with offices in Washington, D.C., Maryland, Virginia, Pennsylvania, and New York City. MRP provides to its institutional capital partners a full array of real estate services including: acquisition/disposition, development/construction management, property management, asset management and financial reporting services. Since the company’s inception, MRP has deployed $4.1 billion in total capitalization, an average of over $300 million per year. MRP’s combined development assets total more than 20 million square feet, with an additional 9+ million square feet under management. For more information, please visit

About J.P. Morgan Global Alternatives

J.P. Morgan Global Alternatives is the alternative investment arm of J.P. Morgan Asset Management. With more than $130 billion in assets under management and over 800 professionals (as of March 31, 2018), we offer strategies across the alternative investment spectrum including real estate, private equity and credit, infrastructure, transportation, liquid alternatives, and hedge funds. Operating from 23 offices throughout the Americas, Europe and Asia Pacific, our independent alternative investment engines combine specialist knowledge and singular focus with the global reach, vast resources and powerful infrastructure of J.P. Morgan to help meet each client’s specific objectives. For more information:

Media Contact:
Emily Laird

Gerry Trainor

Executive Vice President

Washington, District of Columbia

(202) 775-7091