Penzance Offers Peek into Herndon Office Park Revitalization
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 far, Penzance has pitched exterior changes to four buildings: 450, 455, 465, 470, and 485. New exterior materials — like terraces with synthetic wood flooring and trimming, buffed cultured stone, and repainted entrances — are planned for several buildings. New signage and wayfinding are also planned, including a new monument sign at the main entrance.
The building that has the most visibility from Spring Street — building 450 — will have the most substantial changes, including a new terrace, metal cladding over parts of the building, a pergola, and new lights.
Building 485, which is located on the […]read more
Rosslyn’s Fire Station 10 Will Include A 26-Foot Fire Nozzle Sculpture
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.
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 […]read more
Fresh look at condo tower coming to top of the Rosslyn hill
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 […]read more
Herndon just marked a milestone in the small town’s history
Herndon officials just approved the town’s first new mixed-use development near the future Herndon Metro station, a major step for growth along the path of the Silver Line’s expansion.
The Town Council voted unanimously last week to sign off on development plans for a 4.3-acre property at 555 Herndon Parkway. D.C. developer Penzance is looking to replace the current office building with two residential towers and one office building, all of which will include ground-floor retail.read more
Unizo sells Capitol Hill office building for $24 million less than it paid for it
An affiliate of Unizo Holdings Co. Ltd. has sold a 12-story office building in Capitol Hill for $24.5 million less than it paid for the property less in 2016.
The Tokyo-based real estate investor sold 50 F St. NW Tuesday for $85 million to an affiliate of Penzance Cos., according to the D.C. Recorder of Deeds. Unizo bought the 266,907-square-foot building in fall 2016 for $109.5 million as part of a larger buying spree. The sales price amounts to roughly $318 a square foot.read more