Penzance and CNA announce 175,000-square-foot lease in Clarendon
- January 25, 2012
Penzance, a Washington, D.C.-based private real estate investment company, and CNA Corp. announced Wednesday the signing of a 175,000 square-foot, pre-lease deal that would provide a new headquarters location for CNA in Clarendon. With the CNA lease in hand, Penzance plans to develop a 280,000-square-foot, mixed-use project for 3001-3003 Washington Blvd. The site is located a block from the Clarendon Metro Station in Arlington County.
The project received site plan approval earlier this week from the Arlington County Board of Supervisors. CNA, a not-for-profit research and analysis organization that includes the Center for Naval Analyses, plans to relocate from its current location at 4825 Mark Center Drive in Alexandria.
The new project is designed to function as two separate buildings: a 10-story, 200,000-square-foot office building that would be attached to an 8-story, 80,000-square-foot office building. Approximately 600CNA employees will occupy most of the 10-story building. Besides the office components, Penzance plans 28,000 square feet of retail space on the first floors of the site. CNA will move when the project is complete in early 2014.
“CNA … looks forward to its future in Clarendon, one of the few truly 24/7 live-work-play communities in the area that has embraced and preserved its historical charm while encouraging growth and a diverse mix of amenities,” CNA CEO Robert Murray said in a press release. “Access to Metro, excellent sponsorship, architectural excellence and the ability to grow within the project all contributed to our decision.”
Penzance already owns and manages other properties in Arlington County, including 1500 Wilson Blvd. in Rosslyn.