Penzance Completes 30,000-SF Lease with Reston Association in Reston, VA

WASHINGTON, D.C. – Penzance announced  that Reston Association has signed a lease for approximately 30,000-square-feet of office space at Reston Corner I, (photo below) 12001 Sunrise Valley Drive in Reston, Virginia. Owned and managed by Penzance, the 100,000-square-foot Class A office building is one of three buildings that make up the Reston Corner office park.

“Penzance is committed to the Reston community, and our strategic partnership with Reston Association is a tangible demonstration of that commitment. We are proud that the Association will call Reston Corner I its home for the foreseeable future,” said Victor Tolkan, Penzance, CEO.

Reston Corner I is a four-story office building nestled in the 300,000-square-foot Reston Corner office park. Strategically located at the corner of Reston Parkway and Sunrise Valley Drive, and adjacent to the U.S. Geological Survey, the park enjoys superior access to the Washington Dulles Toll Road and the many amenities Reston has to offer.

Reston Corner boasts an award-winning, naturally landscaped environment as well as stunning new contemporary building lobbies and common areas. In addition, the park features a new state-of-the-art fitness facility, conference center, outdoor fountains, and café.

The Reston market presented Reston Association with a number of options. Penzance recognized the value of Reston Association’s tenancy and worked hard to meet the organization’s preferences and requirements.

“The park’s superior location, pleasant environment, and proximity to Reston’s amenities, as well as the building’s newly designed lobby and tenant-oriented features were major attractions to Reston Association and our other tenants at Reston Corner,” Mr. Tolkan said.

Penzance director of leasing Matt Pacinelli spearheaded the leasing effort along with Terry Reiley, Jeff Roman, and Tom Walsh of CB Richard Ellis, while Rich Rhodes and Rick Meadows of CresaPartners represented Reston Association.

Reston Association (www.reston.org ), a service organization headed by elected members of the community and staffed by a team of dedicated and efficient professionals, works to maintain the quality of life and deliver services that define the Reston community.

Penzance (www.penzco.com ) is a private equity real estate investment company that owns, develops and manages commercial properties. Founded in the mid-1990s by principals Victor Tolkan and Julia Springer Tolkan, Penzance focuses on investment grade real estate opportunities in the metropolitan Washington, D.C. area.

Contact: Matt Pacinelli, 202-339-8001, mpacinelli@penzco.com