Penzance acquires office property in Arlington, Va.

Penzance announced that it has acquired Ballston One, a 239,678-square-foot office building in Arlington, Va.

JLL represented the seller, UBS Realty Investors, and procured the buyer.

Ballston One is located at 4601 North Fairfax Drive in the Ballston submarket of Northern Virginia. The building was constructed in 1986 and is occupied by a mix of federal-government and private-sector tenants.