Latest News
Latest NewsWashington’s Top Condominium Award for 2022
Delta Associates Salutes Property as Top in Region
The luxurious Pierce condominium took home top honors from Delta Associates as the prime property in its residential class for 2022. Pierce’s popularity continues to dominate the regional condominium market, selling residences above $1,000 a square foot.
“We are thrilled to win this honor as it recognizes the prestige and prominence of Pierce as a beautiful new addition to the Virginia skyline,” said John Kusturiss, Senior Vice President of Development at Pierce Highlands, LLC. “Pierce was designed to appeal to a sophisticated clientele that values an understated but classic style of living. The continuing strength of our sales is testament to that vision.”
At the Pierce sales gallery, 71 of the 104 residences have sold at prices ranging from $1 million to more than $3 million by the Mayhood Company sales team. “This is a property that attracts prospects who understand and appreciate fine workmanship and quality finishes,” said David Mayhood, president of the Mayhood Company.
The sales success is cause for celebration by The Mayhood Company, which earned three of the Delta Associates Awards in 2022, a rare trifecta in the competitive condominium market.
John Kusturiss said upscale condominiums like Pierce are attracting downsizing empty nesters from surrounding Virginia neighborhoods as […]
read more
Penzance acquired a Chantilly parcel cleared for an auto dealership. It’s shifting gears to build data centers.
A D.C.-based real estate investment firm is shifting gears with one of its properties in Chantilly, dropping previous plans to build an auto sales facility and instead seeking a rezoning to build data centers.
In August, an affiliate of Penzance Management LLC acquired a large, vacant parcel adjacent to an auto dealership cluster, about a mile south of Dulles International Airport, for $10 million. While much of it sits in a floodplain, about 12 acres of the lot are developable, adjacent to Ourisman Chantilly Toyota at 4135 Auto Park Circle. Fairfax County rezoned that part […]
read more
Atlanta firm buys two Arlington residential towers, expects return to ‘core markets’
Cortland, a big Atlanta-based real estate firm, closed on two big multifamily acquisitions in Arlington Tuesday, completing the first phase of its plans to invest $1 billion in local real estate.
The company is seeing “return migration to core markets” such as the D.C. area and “this demand shift is expected to continue over the coming years, enhancing our outlook for multifamily communities in the region,” Dan Irvin, a regional director of investments with Cortland, told the Washington Business Journal.
read more
Fire Station 10 Officially Opens To Serve The Rosslyn Community
Arlington County officials celebrate opening of new fire station serving Rosslyn and the public-private partnership that made it possible.
read more
D.C. firm starts work on giant Hagerstown warehouse
Hagerstown’s fast-growing e-commerce landscape is poised to take off again. Washington, D.C.-based Penzance broke ground Thursday on a spec 825,000-square-foot, Class A warehouse facility that will sit just off Interstates 81 and 70 in Williamsport. The firm acquired the 70-acre site earlier this year for $8 million.
read more