ARLINGTON, VA-Penzance Cos. has formed a joint venture with Invesco Real Estate to build an office and retail complex in Clarendon. The 280,000-square-foot development will come up at 3001-3003 Washington Blvd.
Penzance and Invesco will jointly own the project after it gets completed in early 2014. The project is expected to cost approximately $150 million. Penzance is already preparing for construction and is planning to break ground on the project in early May. CNA has pre-leased 175,000 square feet in the project. For the full story, go to Washington Business Journal .
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