LOGAN: MRP Realty and Uberoffices Purchase 1509 16TH Street NW

WASHINGTON, D.C. (April 8, 2015) – MRP Realty, developers of commercial, residential and mixed-use real estate across the Washington Metropolitan region, and UberOffices, a co-working and real estate services company, today announced that they together have purchased the property at 1509 16th Street, NW in the trendy Logan Circle neighborhood of Washington, DC.(on 16th between Church Street and P Street NW)

 “UberOffices is on the forefront of co-working and creating a community where small companies can do serious work,” said MRP Realty principal Zach Wade. “By teaming up with UberOffices to purchase 1509 16th Street, we will be partners to take on the new trend of shorter leases and flexible work spaces.”

“MRP Realty brings investment strength, operating experience and property management strength to bear and they are perfect partners for this new venture,” said Raymond Rahbar, founder of UberOffices. "This is our first purchase of a property after a successful first two years, and partnering with MRP on the Logan Circle location brings added real estate value to the project. We have had a lot of support from the investment community who are seeking opportunities to be in the co-working space and we look forward to growing our footprint.”

UberOffices will move into the seven-story, 32,000 square foot building by early 2016. In addition to the desirable location, UberOffices set its sights on the building due to its character and aesthetics, having been constructed in 1909 with a brick façade and unique window line. MRP will provide construction and property management services, while UberOffices will be the sole occupant in the building.