Penzance has deep experience in developing high-quality office projects in the Washington, DC region. When pursuing development opportunities, Penzance focuses on:
A versatile firm, Penzance has built ground-up office buildings in the Ballston submarket of Virginia and in downtown Washington, DC, and has entitled complicated mixed-use projects such as a two-tower, 357,000 square foot office building in Fairfax, Virginia and a large, single-family housing development in Frederick County, Virginia. Current initiatives include the development of McLearen 28, a 40-acre site in Fairfax County, Virginia with the potential for a 1.78 million square foot office park, and a 300,000 square foot Metro-oriented office building in the Clarendon submarket of Arlington, Virginia.
When seeking development sites, Penzance identifies areas with limited supply and meaningful barriers to entry, select mixed-use opportunities, land parcels next to existing performing assets and under-utilized sites with potential for higher and better use.
Click here to see an example of our Development strategy in action.