**Penzance Acquires Six-Building Industrial Portfolio in Manassas, Virginia**
Penzance has acquired Gateway & Linden, a six-building industrial portfolio totaling 212,086 square feet in Manassas, Virginia. The property was purchased 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. The Gateway & Linden acquisition includes two industrial flex parks: 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, providing direct access to Interstate 66, Prince William Parkway, and Balls Ford Road, enabling seamless and efficient distribution throughout the D.C. metro area. JLL’s Metro DC Industrial Team has been selected to lead the leasing efforts for the project in collaboration with the Penzance team.
