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Penzance Wins Approval for Big Three- Tower Multifamily Project in NoVA

The Arlington County Board unanimously approved Penzance’s plans for One Rosslyn, a three-tower, 970,000-square-foot multifamily development in Arlington, Va.’s Rosslyn neighborhood. The project, designed by Studios Architecture and Hickok Cole, and co-developed by The Baupost Group, will feature 845 apartments and condo units, copious green space and 14,000 square feet of retail.

Penzance, Greenfield Sell Watergate Retail Space For $15M

PZRE2019-11-26T00:49:57+00:00November 15th, 2017|Jon Banister|Bisnow|

A retired Northern Virginia doctor is now the owner of a piece of the Watergate complex.

Penzance and Greenfield Partners sold the retail portion of the complex, three levels of shops and restaurants totaling 57K SF, to the doctor, who declined to be named.

The deal closed for $15.4M, according to a document filed Wednesday in the D.C. Recorder of Deeds. The document lists the buyer as Watergate Partners LLC, an entity registered to the address of a MedStar urgent care center in McLean, 6858 Old Dominion Drive.

Long & Foster execs part with brokerage’s longtime Georgetown office for $8.5 million

PZRE2019-11-26T00:49:57+00:00June 2nd, 2017|Daniel J. Sernovitz|Washington Business Journal|

D.C.-based developer Penzance Cos. has acquired Long & Foster Real Estate Inc.’s longtime Georgetown office building for about $8.5 million but doesn’t plan to displace Greater Washington’s largest residential real estate company from the premises anytime soon.

P. Westley Foster, who is the founder, chairman and CEO of Long & Foster Cos., and George T. Eastment, its vice chairman, sold the roughly 15,000-square-foot building to an affiliate of Penzance in deal recorded with the District on June 1, according to D.C. land records.

Scoop: Penzance Under Contract To Sell Ballston Carpool Site To Jefferson Apartment Group

PZRE2019-11-26T00:49:57+00:00January 11th, 2017|Jon Banister|Bisnow|

Penzance is under contract to sell the development site of a 22-story apartment building in Ballston.

Penzance rezoned the site of the Ballston bar for high-rise residential, and now, the DC-based firm expects to close this quarter on the sale of the site to Jefferson Apartment Group, two sources tell Bisnow.