Latest News

New Rossyln Development Marks Construction Milestone

A project that is changing the skyline of Arlington has just celebrated its “topping out.”

The massive Highlands residential development in Rosslyn recently reached its full height. Construction, which has continued through the pandemic and some notable challenges, is expected to wrap up in the second half of 2021.

The Highlands, when completed, will consist of nearly 800 luxury rental apartments, just over 100 condos, 40,000 square feet or retail space, a renovated park, and a new ACFD Fire Station 10.

It’s located at 1555 Wilson Blvd, at a high point in the Rosslyn neighborhood, adjacent to H-B Woodlawn’s new building known as The Heights. Construction started in October 2018.

More on the topping out and the project, from a press release.

Penzance, a leading owner, operator, and developer in the Washington, DC, metropolitan region, today announced the topping out of all three of the towers for The Highlands, Rosslyn’s newest mixed-use, luxury residential community.

Perched on the hilltop with panoramic views of Northern Virginia, the Potomac River, and the iconic monuments along the DC skyline, The Highlands name is inspired by its geographic location as the highest point in Rosslyn. In addition to three distinct residential towers, destination retail, the Highlands will be home to a […]

read more

Penzance Offers Peek into Herndon Office Park Revitalization

August 11th, 2020|Fatimah Waseem|Reston Now|

Penzance, a DC-based real-estate firm, is offering a peek into its revitalization plans for Spring Park, an office park located at 455 and 475 Springpark Place.

The office park is located within a mile of the company’s planned major mixed-use neighborhood near the future Herndon Metro Station. The firm acquired 10 single-story buildings for $75 million nearly one year ago.

In an Aug. 5 presentation to the Town of Herndon’s Architectural Review Board, Penzance indicated it is looking into “revitalizing the whole site” and improving its connection to the Washington & Old Dominion Trail.

So […]

read more

DC Investment Firm Adds to Silver Line Portfolio With $50.5 Million Purchase

December 30th, 2019|Bryce Meyers|CoStar|

Penzance has snapped up a mixed-use complex near the Innovation Center Metro station in Herndon, Virginia, as the rollout of the Silver Line Metrorail extension continues to draw new development interest.

The D.C.-based real estate investment company paid $50.5 million to BET Investments to buy The Mark at Dulles Station in an off-market deal, Penzance confirmed. BET, a commercial real estate owner, developer and manager led by Toll Brothers co-founder Bruce Toll, had owned the 169-unit apartment and retail building since 2014 after acquiring it for nearly $39.3 million.

Penzance had been targeting investments around the future Herndon station before heading one […]

read more

Best of NAIOP Northern Virginia 2019 Awards

November 22nd, 2019|NAIOP|

“Focus on Excellence” was the theme of the Best of NAIOP Northern Virginia Awards held November 21, 2019 at The Ritz-Carlton, Tysons with over 840 people registered. Thirty-four awards were presented in the following categories: Interiors, Membership, Transactions and Buildings. The Awards Gala was an opportunity to celebrate significant new and renovated contributions to Northern Virginia by the commercial, industrial and mixed-use real estate community.

Awards were given in the following categories:

Buildings
Master Plan
Award of Excellence for The Highlands, submitted by Penzance and located in Rosslyn. NAIOP Members on the
team include: Hickok Cole Architects and The Whiting-Turner Contracting Company. […]

read more

Company to invest $10 million, establish U.S. headquarters

November 6th, 2019|VEDP - Virginia Economic Development Partnership|

RICHMOND—Governor Ralph Northam today announced that Block.one, a leader in providing high-performance blockchain software, will invest $10 million and establish its U.S. headquarters in Arlington County. Virginia successfully competed with Washington, D.C. for the project, which will create 170 new jobs over a period of three years.

“Block.one maintains a strong presence at its Blacksburg operation, and we are thrilled that this global company will expand its footprint in Virginia by locating its U.S. headquarters in Arlington County,” said Governor Northam. “Blockchain and other technologies are rapidly evolving, and industry pioneers like Block.one help to bolster the Commonwealth’s reputation as a leader in […]

read more