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Best of NAIOP Northern Virginia 2019 Awards

“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.

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Penzance Acquires Herndon Office Park For $72M

September 23rd, 2019|Jon Banister|Bisnow Washington, DC|

Penzance has acquired an office park within a mile of the major Herndon Parkway mixed-use development it has planned.

The real estate firm announced Friday it acquired Spring Park, consisting of 10 single-story buildings totaling 422K SF. Penzance bought the properties from RREEF America REIT II for $71.5M, property records show.

JLL’s Bruce Strasburg and Dek Potts brokered the deal. Penzance acquired the property through its Penzance D.C. Real Estate Fund LP, its first private equity fund, which closed in October with $255M raised.

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Washington DC’s 25 Most Powerful Real Estate Players

September 17th, 2019|The Editors|Commercial Observer|

Julia Springer, Victor Tolkan, John Kusturiss

Co-Founders and Managing Partners; Senior Vice President Development, Penzance

Founded in 1996 by husband-and-wife duo Julia Springer and Victor Tolkan, Penzance has grown into one of the better-known real estate owners and operators in the D.C. area. 

In the early years, the Penzance portfolio was primarily focused on commercial office (including the Watergate), but in recent years, the company has expanded into multifamily and development as well. Starting in 2013, the company began adding multifamily assets, and now owns close to 2,000 residential units. 

In addition […]

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Rosslyn’s Fire Station 10 Will Include A 26-Foot Fire Nozzle Sculpture

September 12th, 2019|Kalina Newman|Arlington Now|

A 26-foot-tall sculpture of a fire nozzle is coming to the new location of Fire Station 10 as a tribute to Arlington firefighters.

The artwork is the result of a partnership between Arlington Public Art and Penzance, the developer behind the upcoming massive development in western Rosslyn dubbed “The Highlands.”

Set to open in 2021, The Highlands will be the future site of the new Fire Station 10. Currently, the station is temporarily located at 1791 N. Quinn Street.

“This is our first opportunity to integrate public art into a fire station, which is a recommendation in Arlington County’s Public Art Master Plan,” said Angela Adams, Director of […]

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Fresh look at condo tower coming to top of the Rosslyn hill

May 16th, 2019|Michael Neibauer|Washington Business Journal|

It was only a couple of years ago that Washington Business Journal employees were chasing cockroaches out of their Rosslyn office at 1555 Wilson Blvd. We’ve since moved. The antiquated, mid-rise office building is long demolished, and what Penzance is constructing in its place is a world away.

The D.C.-based developer this week released new images of Pierce, the 27-story condominium piece of The Highlands development coming to the top of the Rosslyn hill. The 104-unit Pierce, in addition to the 23-story, 331-unit Aubrey and 26-story, 449-unit Evo, both apartment towers, will have addresses on North Pierce […]

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