ARLINGTON, VA-Penzance Cos. has formed a joint venture withInvesco Real Estate to build an office and retail complex inClarendon. The 280,000-square-foot development will come up at3001-3003 Washington Blvd.

Penzance and Invesco will jointly own the project after it getscompleted in early 2014. The project is expected to costapproximately $150 million. Penzance is already preparing forconstruction and is planning to break ground on the project inearly May. CNA has pre-leased 175,000 square feet in the project.For the full story, go to Washington Business Journal .

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