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Latest NewsPenzance secures $100M to build fully leased Chantilly data center
D.C. developer Penzance continues to diversify into the lucrative data center market, scoring $100 million in construction financing for its Chantilly Premier project.
The fully leased, 241,000-square-foot data center shell will sit on 12 acres of a 79-acre site located adjacent to the Chantilly Auto Park, about 10 minutes from Dulles International Airport. The tenant has not been named.
Penzance, best known for its mixed-use and multifamily projects, recently broke ground on Chantilly Premier after landing financing from QuadReal Property Group, a Vancouver-based real estate investor, developer and operator. The data center is expected to deliver by mid-2027.
Marshall Scallan, Michael Zelin and Bindi Shah of Cushman & Wakefield represented the borrower.
“Securing this financing highlights the strong market appetite for high-quality, preleased assets backed by experienced sponsors,” Scallan said in a statement.
A Penzance affiliate acquired the vacant Chantilly parcel in August 2022. Three years earlier, the prior owner had the land rezoned for vehicle sales, a plan Penzance dropped in favor of either data center or warehouse. It ultimately landed on a data center.
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Arlington Firefighters Move Into New Fire Station 10 in Rosslyn
Construction on the three towers of The Highlands, which started in October 2018, is wrapping up. The fire station appears to have finished earlier than developer Penzance anticipated. A spokeswoman previously told ARLnow the station would be ready in the fall, along with a new apartment tower and condo tower.
Passersby can see a 35-foot tall sculpture of a bronze nozzle with twisting spirals of stainless steel, representing water. At night, light illuminates the stainless spirals. The art installation, a tribute to firefighters, marks the first time public art has adorned a fire station.
Baltimore artists David and Eli Hess were commissioned for the art, which […] read more
As Interest in Luxury DC Apartments Soars, Developers Are Competing to Offer the Most Extravagant Amenities Possible
This development in Rosslyn consists of three separate residence towers: two apartment buildings, Aubrey and Evo, and the condominium tower Pierce. While Aubrey and Pierce are currently open, Evo is expected to be ready for move-ins next month. One-bedrooms at Pierce are on the market in the $900,00 range, while one-bedrooms at Aubrey and Evo start around $2,300 a month.
Aubrey has many of the amenities one would expect at a luxury apartment—a rooftop pool, an exhibition kitchen, a coworking area, a high-end gym—and Pierce has a two-story fitness center. But Evo’s amenities are especially bougie. Think a 65-foot-long rooftop pool […] read more
New Rossyln Development Marks Construction Milestone
A project that is changing the skyline of Arlington has just celebrated its “topping out.”
The massive Highlands residential development in Rosslyn recently reached its full height. Construction, which has continued through the pandemic and some notable challenges, is expected to wrap up in the second half of 2021.
The Highlands, when completed, will consist of nearly 800 luxury rental apartments, just over 100 condos, 40,000 square feet or retail space, a renovated park, and a new ACFD Fire Station 10.
It’s located at 1555 Wilson Blvd, at a high point in the Rosslyn neighborhood, adjacent to H-B Woodlawn’s new building known as […] read more
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 […] read more