March 19, 2012
DCMUD: Penzance Announces Partner and Start Date for Clarendon Office Project
D.C. based Penzance announced today it has partnered
Real Estate in a joint venture to build its 2-building
office project at 3001-3003 Washington Boulevard near the Clarendon Metro
station, setting up development for a May groundbreaking.
The partnership with Invesco comes after Penzance had teed up the development,
gaining county approval of plans for the 280,000 s.f. project in January, at
which time it also leased most of the space - 173,000 s.f. - to
federally-funded CNA (the Center for Naval Analyses), which will transfer 600
employees from its Mark Center location in 2014.
Penzance plans two office buildings - 8-stories and 10-stories - with shared
4-level below-grade parking deck and 28,000 s.f. of combined ground floor
retail space with outdoor seating area. Several of the older buildings on the
block will be kept intact during construction. Noritake Associates designed
the project that is expected to earn a minimum ranking of LEED Silver, while
holding out the possibility of a Platinum ranking for the site.
Penzance has developed and operates numerous properties throughout Washington
D.C. and Arlington, including 455 Massachusetts Avenue
in Mt. Vernon Triangle.
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