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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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Here’s what Penzance has planned for 555 Herndon Parkway
For years, District-based Penzance has planned a three-building mixed-use development on company-owned land near the Herndon Metro station.
Now, we have a better understanding of what the project at 555 Herndon Parkway will look like.
Penzance is out with new renderings for its proposed office, retail and residential development across a 4.3-acre site one-tenth of a mile from the Metro entrance.
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New condos and apartments in Arlington County could draw Amazon HQ2 workers
A condo development that was already in the pipeline in Arlington County, Va., might get an uptick in interest from people seeking to relocate to the Washington area for Amazon’s second headquarters in Crystal City.
Construction is underway at the Highlands, a residential and retail community around 1555 Wilson Blvd. When completed, which is anticipated to be in 2021, the Highlands will include three residential high-rise towers, a new fire station, a new street, 50,000 square feet of amenity space, 40,000 square feet of ground floor retail space and a newly redeveloped Rosslyn Highlands Park.
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They might have renamed Rosslyn, too. And more details from Virginia’s HQ2 pitch.
The Virginia piece of Amazon.com Inc.’s second headquarters, we now know, will be located in “National Landing,” a rebranded amalgam of Crystal City, Pentagon City and Potomac Yard.
National Landing was a formal part of the commonwealth’s pitch to Amazon. But, did you know, so was “Capital View”? And what is Capital View? That would apparently be Rosslyn and its immediate surrounds.
Beyond JBG Smith: 20 Developers Poised to Benefit from Amazon in Northern Virginia
The big winner of Tuesday’s announcement that Amazon selected Northern Virginia for half of its second headquarters was JBG Smith, the Chevy Chase-based REIT that will lease Amazon space for its initial offices and sell it land for future development of the 4M SF campus. But the e-commerce leader establishing such a massive presence in Crystal City, Pentagon City and Potomac Yard, an area it is now rebranding as National Landing, is sure to create ripple effects that will flow throughout the surrounding area and affect hundreds of properties.