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Latest NewsFairfax County and Penzance Officials Break Ground on Next-Generation Digital Infrastructure Project to Power the World’s Deep Tech Future
Fairfax County, Virginia – Fairfax County officials and Penzance, a leading Mid-Atlantic real estate investment and development firm, today celebrated the groundbreaking of a next-generation digital infrastructure project that will enhance the world’s digital backbone, strengthen Northern Virginia’s global competitiveness, and deliver more than 60 acres of new public green space for community use. Designed for hyperscale demand and maximum energy efficiency, the project marks Penzance’s largest digital infrastructure investment to date and sets a new standard for sustainability and scale in hyperscale digital infrastructure development.
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School System Converts Vacant Office Space To Classrooms In Fairfax County
Fairfax County Public Schools has transformed 40K SF of a Herndon office park into educational spaces primarily focused on adult learning programs.
The school system leased one building and part of another at Penzance’s 420K SF Marker 20 campus at 450-485 Springpark Place, JLL — which negotiated the deals and managed the construction — announced Tuesday. The system initially agreed to lease 33K SF in December 2021, and then it expanded the deal by 6K SF in March 2022.
The buildings were converted to classroom, office and testing space to […] read more
Penzance Buys 240K SF Arlington Office Building For $25M
Penzance has scooped up its second Arlington County property in as many months, this one a rare office building sale.
The D.C.-based firm acquired the Ballston One office building at 4601 North Fairfax Drive, it announced Thursday. The firm didn’t reveal the sale price, but property records show it sold for $25M.
The seller, UBS Realty Investors, was represented in the deal by JLL‘s Matt Nicholson, Andrew Weir, Jim Meisel, Dave Baker, Kevin Byrd and Kameel […] read more
Penzance announces acquisition of Jasper Columbia Pike apartments in Arlington for $105 million
D.C.-based real estate firm Penzance has announced its acquisition of the 269-unit apartment tower formerly known as Avalon Columbia Pike in Arlington for $105 million.
The nine-story residential-over-retail building sits on about 0.6 acres at 2920 Columbia Pike. Penzance bought the property from Arlington-based AvalonBay Communities Inc. (NYSE: AVB) in a deal that closed July 27. The property has been rebranded as Jasper Columbia Pike.
“Penzance seeks out high-quality existing or potential residential properties near proven economic centers and with retail amenities and good transportation options, which is exactly what this property has,” Cris White, the […] read more
Washington’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 […] read more