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Penzance Acquires Six-Building Industrial Portfolio
Penzance has acquired Gateway & Linden, a six-building industrial portfolio totaling 212,086 square feet in Manassas, Virginia. Gateway & Linden was acquired from a partnership owned by Davin Holdings and The Davis Companies.
The $55 million acquisition, completed this month, adds to Penzance’s growing industrial portfolio. Penzance’s acquisition of Gateway & Linden consists of two industrial flex parks, including Gateway Centre, a 102,277-square-foot property, and Linden Business Center, a 109,809-square-foot property.
“In this supply-constrained Northern Virginia market, high-quality industrial flex assets like these are becoming increasingly scarce, making this a particularly valuable addition to our portfolio,” said Lauren Kowall, Senior Vice President of Investments at Penzance.
The property is strategically located in the Route 29/I-66 corridor, offering direct access to Interstate 66, Prince William Parkway, and Balls Ford Road, enabling seamless and efficient distribution throughout the D.C. metro area. Working closely alongside the Penzance team, JLL’s Metro DC Industrial Team has been selected to spearhead the leasing efforts for the project.
