Our Portfolio

Demonstrating our commitment to building value while creating communities.

Penzance has built a portfolio of premier office and residential properties throughout the DC metro region by identifying underutilized development sites, and undermanaged and poorly capitalized buildings, to which we apply our creative approach to value creation. We have consistently produced superior risk-adjusted returns by infusing capital to reposition and develop exceptional properties.

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Landing at Innovation

Landing at Innovation

13755 Sunrise Valley Drive, Herndon, Virginia

Current Investments

Square Feet: 1,000,000

1,000,000 million square feet of fully-approved mixed-use development located at the future Innovation Metro Station that is set to open in the third quarter of 2020. The development is currently designed to include approximately 500,000 square feet of trophy office and approximately 500 luxury apartment units and up to 50,000 square feet of retail. The development is located within the larger 1.6 million square foot Innovation Center South master plan development.

Springpark Place

Springpark Place

450, 455, 460, 465, 470, 475, 480, and 485 Springpark Place | 380 and 400 Herndon Parkway, Herndon, VA 20170

Current Investments

Square Feet: 422,000    |    Year Built: 1984-1986    |    Number of Tenants: 18

Portfolio comprised of ten single-story office buildings in the Reston/Herndon submarket, with each building ranging from 19,216 to 63,912 square feet. The office park currently serves a variety of tenants, predominantly technology firms and defense contractors, and is proximate to Phase II of the Metro's Silver Line.

The Highlands

The Highlands

1555 Wilson Boulevard, Arlington, Virginia

Current Investments

Square Feet: 1,200,000    |    Year Built: Q2-Q4 2021    |    Number of Units: 884

The Highlands is a neighborhood defining mixed-use development in Rosslyn, Virginia, set to be completed throughout 2021. The project includes the Pierce, a 104-unit luxury condominium community, the Evo, a 456-unit luxury apartment community, and the Aubrey, a 331-unit luxury apartment community. In addition to the residences, the project includes 27,800 square feet of neighborhood serving retail, a neighborhood park and a new community fire station.

4001 N. Fairfax Drive

4001 N. Fairfax Drive

4001 North Fairfax Drive, Arlington, Virginia

Current Investments

Square Feet: 193,000    |    Year Built: 1989    |    Number of Tenants: 3

8-story corner office building centrally located in Ballston, VA proximate to the Ballston and Virginia Square metro stations.

Courthouse Place

Courthouse Place

2000 North 14th Street, Arlington, Virginia

Current Investments

Square Feet: 119,000    |    Year Built: 1987    |    Number of Tenants: 14

9-story office building located in the Courthouse submarket of Arlington, VA, situated 2 blocks from the Courthouse Metro.

Willows at Victoria Falls

Willows at Victoria Falls

14001 Belle Chasse Boulevard, Laurel, Maryland

Current Investments

Square Feet: 125,000    |    Year Built: 2014    |    Number of Units: 75

The Willows at Victoria Falls is a luxury condominium rental community for ages 55+ providing upscale retirement living. The units feature open-concept floor plans with modern, high-end finishes including 9’ ceilings, stainless steel appliances, granite kitchen countertops, top-loading washers and dryers and balconies. Located within the larger Victoria Falls Community of condominiums, apartments and single-family homes.

1680 Wisconsin Avenue NW

1680 Wisconsin Avenue NW

1680 Wisconsin Avenue NW, Washington, District of Columbia

Current Investments

Square Feet: 46,980     |    Year Built: 1900    |    Number of Tenants: 4

3-Story office building located in the Georgetown sub-market of Washington, DC with sweeping views of the Kennedy Center. Situated 1/2 mile from the intersection of M St and Wisconsin Avenue; the epicenter of Georgetown and its more than 400 stores and restaurants.

555 Herndon Parkway

555 Herndon Parkway

555 Herndon Parkway, Herndon, Virginia

Current Investments

Square Feet: 814,000

Fully approved mixed-use development plan permitting over 800,000 square feet of office, residential, hotel and retail uses. Project is located 500 feet from the future Herndon Silver Line metro station set to open in 2020.

1500 Wilson Boulevard

1500 Wilson Boulevard

1500 Wilson Boulevard, Arlington, Virginia

Current Investments

Square Feet: 258,000    |    Year Built: 1971    |    Number of Tenants: 10

17-story office building located in Rosslyn, VA, two blocks east of the Rosslyn Metro station (Orange, Blue and Silver Lines) and one stop from the Foggy Bottom neighborhood of Washington DC. Retail tenants include Target, Starbucks, Wells Fargo, District Taco and Capriotti's.

1101 Connecticut Avenue

1101 Connecticut Avenue

1101 Connecticut Avenue NW, Washington, District of Columbia

Current Investments

Square Feet: 189,000    |    Year Built: 1975    |    Number of Tenants: 15

Leasehold interest in a 12-story office building on a premier corner in downtown Washington, DC, atop the Farragut North metro station.

50 F Street

50 F Street

50 F Street NW, Washington, District of Columbia

Current Investments

Square Feet: 212,780    |    Year Built: 1985    |    Number of Tenants: 16

12-story, Class-B office building located in the Capitol Hill submarket of Washington DC. The property is located within walking distance of the United States Capitol Building, the Senate Office Building and is served by an abundance of retail at The Shops at Union Station. The property provides great commuter access from the nearby Union Station and Judiciary Square Metro Stations.

Sunset Hills Corporate

Sunset Hills Corporate

11109 Sunset Hills Road, Reston, Virginia

Current Investments

Square Feet: 143,000    |    Year Built: 1985    |    Number of Tenants: 8

A 6-story office building and a 2-story flex building located in Reston, Virginia. Adjacent to the Dulles Toll Road and proximate to the newly opened Wiehle-Reston East Metro Station on the Silver Line.

4040 N. Fairfax Drive

4040 N. Fairfax Drive

4040 North Fairfax Drive, Arlington, Virginia

Current Investments

Square Feet: 184,000    |    Year Built: 1966    |    Number of Tenants: 10

10-story office building located in the Ballston submarket of Arlington, approximately 2 blocks from the Ballston and Virginia Square Metro stations.

Colvin Woods

Colvin Woods

11012 Becontree Lake Drive, Reston, Virginia

Current Investments

Square Feet: 253,000    |    Year Built: 1979    |    Number of Units: 259

The property comprises 259-units across 7 buildings, a clubhouse, tennis courts, pool, and hiking trails. Nestled in 48 acres of woodland, Colvin Woods offers access to Reston Town Center, the Wiehle Avenue Metro, and the Dulles Toll Road. Newly renovated apartment homes offer country-style living with modern conveniences and accessibility.

Pointe at New Town

Pointe at New Town

4375 New Town Avenue, Williamsburg, Virginia

Current Investments

Square Feet: 286,530    |    Year Built: 2007    |    Number of Units: 265

The Pointe at New Town is located within the larger New Town Development, a 365-acre planned community featuring parks, shops and restaurants, a movie theater, office parks, single-family homes and condominiums, and a dedicated shuttle system. The property comprises 265 townhome units across 27 buildings, a clubhouse with fitness room and pool, and a shuttle stop offering access into New Town and historic Williamsburg.

Stone Pointe

Stone Pointe

15001 Potomac Heights Place, Woodbridge, Virginia

Current Investments

Square Feet: 277,000    |    Year Built: 2015    |    Number of Units: 288

The Stone Pointe apartment community consists of four mid-rise buildings featuring one and two-bedroom floor plans in a new and modern complex with parking laid out in between. The community is conveniently located nearJefferson Davis Highway and Interstate 95, two major thoroughfares in Prince William County. The luxury community includes a clubhouse, fitness center, and pool available to residents.

Parkridge 4

Parkridge 4

10700 Parkridge Boulevard, Reston, Virginia

Current Investments

Square Feet: 124,000    |    Year Built: 1988    |    Number of Tenants: 5

A 6-story office building located within the Parkridge Office Park in Reston, Virginia. Adjacent to the Dulles Toll Road, the property provides excellent access to Dulles International Airport and Tysons Corner.

Dullesview

Dullesview

2551 & 2553 Jefferson Park Drive, Herndon, Virginia

Past Investments

Square Feet: 354,000

Land site that Penzance pre-developed and designed then sold to a Chicago-based developer.

Square 516 Residential

Square 516 Residential

455 Massachusetts Avenue, NW Washington, DC 2001

Past Investments

Square Feet: 242,366    |    Year Built: 2008    |    Number of Tenants: N/A

Square 516 Residential was an investment in conjunction with 455 Massachusetts Avenue, NW. It was developed by Penzance with ASB as an equity partner.

The Myerton

The Myerton

108 South Courthouse Road, Arlington, Virginia

Past Investments

Square Feet: 118,095    |    Year Built: 1940    |    Number of Tenants: 74

74-unit apartment community located at the entrance of Ft. Myer in the desirable Penrose neighborhood of Arlington VA. The property provides convenient access to the Rosslyn-Ballston Corridor and downtown Washington, DC.

Wayne & 2nd Street

Wayne & 2nd Street

2116 South 2nd Street, Arlington, Virginia | 2120 S 2nd Street, Arlington, Virginia | 319 South Wayne Street, Arlington, Virginia | 323 South Wayne Street, Arlington, Virginia

Past Investments

Square Feet: 14,336    |    Year Built: 1940    |    Number of Tenants: 32

Four-building portfolio totaling 32 apartments units. Penzance executed a $1.2 million gut-renovation including upgrades to kitchens, bathrooms, flooring, electrical, and plumbing systems. The property was incorporated into the Myerton community achieving significant cost savings through operational synergies and providing access to the Myerton amenities.

730 North Glebe

730 North Glebe

730 North Glebe Road, Arlington, Virginia

Past Investments

Square Feet: 3,772    |    Year Built: 1962    |    Number of Tenants: 1

Retail building centrally located within a four-parcel assemblage. Penzance purchased the asset as a “spike-parcel” and ultimately sold the property to a development firm which is moving forward with a large-scale residential project on the site.

Parkridge and Cascades

Parkridge and Cascades

10700 Parkridge Boulevard, Reston, VA | 12005 Sunrise Valley Drive, Reston, VA

Past Investments

Square Feet: 10700: 124,000 | 12005: 107,000    |    Year Built: 10700: 1988 | 12005: 1983    |    Number of Tenants: 10700: 5 | 12005: 5

A portfolio including one 6-story office building and one 4-story office building located proximate to the Dulles Toll Road in the Reston submarket of Virginia.

455 Massachusetts Avenue NW

455 Massachusetts Avenue NW

455 Massachusetts Avenue NW, Washington, District of Columbia

Past Investments

Square Feet: 242,336    |    Year Built: 2004    |    Number of Tenants: 19

12 story 5-star office building located in the East end of DC. The LEED certified building offers controlled entry and convenient access to the Mt. Vernon Square metro station.

1003 Wisconsin Avenue NW

1003 Wisconsin Avenue NW

1003 Wisconsin Avenue NW, Washington, District of Columbia

Past Investments

Square Feet: 12,200    |    Year Built: 1920    |    Number of Tenants: 1

4-story office building located in the Georgetown submarket of DC. Conveniently located near the Georgetown Waterfront with views of the Potomac. Penzance sold the property to Millennium Partners who developed what is now the Ritz-Carlton Hotel and Residences in Georgetown.

1129 20th Street NW

1129 20th Street NW

1129 20th Street NW, Washington, District of Columbia

Past Investments

Square Feet: 176,350    |    Year Built: 1969    |    Number of Tenants: 17

10-story 4-star office building located in the West End submarket of Washington DC, offering controlled access to the building and convenient access to the Dupont Circle and Farragut North metro stations. Penzance sold the site with additional density rights granting the ability to add additional floors to the building.

1130 Connecticut Avenue NW

1130 Connecticut Avenue NW

1130 Connecticut Avenue NW, Washington, District of Columbia

Past Investments

Square Feet: 229,777    |    Year Built: 1984    |    Number of Tenants: 32

12-story 4-star office building located in the CBD submarket of Washington DC with convenient access to the Farragut North metro station and views of the White House.

1215 Connecticut Avenue NW

1215 Connecticut Avenue NW

1215 Connecticut Avenue NW, Washington, District of Columbia

Past Investments

Square Feet: 8,359    |    Year Built: 1914    |    Number of Tenants: 4

4-story retail building located in the Dupont Circle neighborhood of Washington DC providing convenient access to both the Dupont Circle and Farragut North metro stations.

1893 Preston White Drive

1893 Preston White Drive

1893 Preston White Drive, Reston, Virginia

Past Investments

Square Feet: 30,001    |    Year Built: 1986

3-story office building located in Reston, Virginia on over 2 acres of land.

2121 Wisconsin Avenue NW

2121 Wisconsin Avenue NW

2121 Wisconsin Avenue NW, Washington, District of Columbia

Past Investments

Square Feet: 110,960    |    Year Built: 1960    |    Number of Tenants: 9

4-story office building located between the Georgetown and Glover Park neighborhoods of Washington DC. Conveniently located on multiple public transport lines.

3001 & 3003 Washington Boulevard

3001 & 3003 Washington Boulevard

3001 and 3003 Washington Boulevard, Arlington, Virginia

Past Investments

Square Feet: 310,000    |    Year Built: 2014    |    Number of Tenants: 6

8-story trophy office building located in Clarendon, Virginia at the corner of 11th Street and Washington Boulevard. The LEED Silver certified building is conveniently located one block from the Clarendon Metro station.

3259 M Street NW

3259 M Street NW

3259 M Street NW, Washington, District of Columbia

Past Investments

Square Feet: 6,550    |    Year Built: 1965

3-story mixed use office and retail building located in the heart of Georgetown. The building is currently home to the Georgetown flagship Coach store.

3701 & 3702 Pender Drive

3701 & 3702 Pender Drive

3701 & 3702 Pender Drive, Fairfax, Virginia

Past Investments

Square Feet: 3701: 102,364 | 3702: 77,595    |    Year Built: 3701: 1985 | 3702: 1986    |    Number of Tenants: 3701: 13 | 3702: 8

A 4-story office building and a 5-story office building located in Fairfax, Virginia on 3.5 acres.

3865 Wilson Boulevard

3865 Wilson Boulevard

3865 Wilson Boulevard, Arlington, VA 22203

Past Investments

Square Feet: 145,388    |    Year Built: 2003    |    Number of Tenants: 10

8 story 4 star office building in Arlington, VA. Conveniently located near the Orange and Silver Metro lines

Reston 4-Pack

Reston 4-Pack

10803 - 10805 Parkridge Boulevard, Reston Virginia | 10780 - 10790 Parkridge Boulevard, Reston Virginia | 10750 Parkridge Boulevard, Reston Virginia

Past Investments

Square Feet: 300,000    |    Year Built: 1985/1999    |    Number of Tenants: 16

4-property portfolio within the Parkridge office park, Reston’s largest. The office park has two entrances and features an interior ring road with a 2-acre pond, volleyball and croquet courts, a picnic area, and fountains.

11720 Sunrise Valley Drive

11720 Sunrise Valley Drive

11720 Sunrise Valley Drive, Reston, Virginia

Past Investments

Square Feet: 68,979    |    Year Built: 1985

Previously a 6-story office building that has since been demolished. Penzance identified 250,000 square feet of additional density that was sold and incorporated into a large-scale residential development.

13525 Dulles Tech Drive

13525 Dulles Tech Drive

13525 Dulles Tech Drive, Herndon, Virginia

Past Investments

Square Feet: 32,535    |    Year Built: 1986    |    Number of Tenants: 3

Single story office building located in Herndon, Virginia. The property is located 1 mile from the Dulles International Airport with convenient access to the Dulles Toll Road. Penzance sold the property to a user-owner.

Beaumeade Tech

Beaumeade Tech

21740 Beaumeade Circle, Ashburn, Virginia

Past Investments

Square Feet: 58,080    |    Year Built: 2000    |    Number of Tenants: 4

Single story flex building located in Ashburn VA. Penzance converted the building into commercial condos providing ample surface parking and flex space on 11.89 acres.

Watergate Office

Watergate Office

2600 Virginia Avenue NW, Washington, District of Columbia

Past Investments

Square Feet: 214,614    |    Year Built: 1969    |    Number of Tenants: 20

The Watergate Office Building is an 11-Story, Class A office tower located on the Potomac riverfront in Washington, DC's West End, a core downtown submarket known for its luxurious hotels, high-end restaurants, and record-setting luxury condominium prices. The property features dramatic panoramic views of the Georgetown waterfront, the Potomac River, the Key Bridge, and the Rosslyn skyline. The property connects directly to the newly-renovated, 5-star Watergate Hotel via the adjoining main lobbies and enjoys access to 60,000 square feet of restaurant, retail, and service amenities within the Watergate Shops, the central retail plaza within the Watergate Complex. Penzance extended the Watergate Retail Plaza ground lease to a term of 97-years.

McLearen Tract

McLearen Tract

13618 McLearen Road, Chantilly, Virginia

Past Investments

Fairfax County land investment that was sold to an educational institution after finding alternative and value-add uses.

Winchester

Winchester

Frederick County, Virginia

Past Investments

Penzance sold the land after predevelopment to a residential developer.