Penzance, a owner, operator, developer and investor in the Mid-Atlantic region, announced the acquisition of Gateway & Linden, a six-building industrial portfolio totaling 212,086 square feet in Manassas, Va., for $55 million.
Gateway & Linden, acquired from a partnership owned by Davin Holdings and The Davis Companies, consists of two industrial flex parks.
Gateway Centre is located at 7201-7401 Gateway Court. The 102,277-square-foot property was built in 1988.
Linden Business Center is located at 7245-7795 Coppermine Drive. The 109,809-square-foot property was built in 2001.
“This acquisition aligns with our strategy to expand in high-demand industrial markets and capitalize on our in-house expertise to drive long-term value,” said Lauren Kowall, senior vice president of investments at Penzance. “In this supply-constrained Northern Virginia market, high-quality industrial flex assets like these are becoming increasingly scarce, making this
