Penzance has acquired two aging office buildings prominently located in Rosslyn, Virginia, with plans to redevelop the site.
Rosslyn Gateway, at 1901 and 1911 Fort Meyer Drive, is two 12-story, 1960s-era buildings totaling 255,000 square feet.
“This landmark asset will allow Penzance to deliver a best-in-class offering to area residents, furthering Rosslyn’s reputation as a world-class live-work-play urban center. This site truly is the gateway to Northern Virginia, and we look forward to working with Arlington County to realize the potential of this important location,” said Cristopher White, managing director of investments at Penzance.
Penzance did not announce any details about redevelopment plans for the site. In 2012, Arlington County approved plans submitted by JBG Smith for three high-rise buildings, including an office tower, hotel and residential.
Penzance owns and managers several properties in Rosslyn and recently completed a residential development at 1555 Wilson Boulevard. The Highlands added three high rises to the Rosslyn skyline, a condominium tower and two apartment towers.
There are a half dozen major residential and office construction projects in some stage of development in Rosslyn, either underway, approved or under review, including the redevelopment of the RCA building site, the former Xerox building site and the former Key Bridge Marriott.