Penzance, a DC-based real estate firm, is setting itself up to sell off parts of Spring Park, an office park located at Springpark Place.
The developer is seeking the Town of Herndon’s permission to subdivide the property, which currently has eight buildings on four parcels, into eight lots with each lot containing a building and some site improvements.
Currently, all the parcels and buildings are owned by Penzance. The company hopes to sell “some of the buildings” while “some” will remain under control by Penzance, according to a Sept. 14 application by the firm.
“It is unclear at this time how many that is,” according to the application.
The Town of Herndon’s Planning Commission will hold a public hearing on the issue today (Monday) at 7 p.m.
At a previous meeting this month, staff said the possibility of multiple owners raised concerns about future maintenance of shared infrastructure as well as the lack of existing and shared parking.
The town is also currently reviewing a plan by Penzance for minor site improvements to the office park.
The office park is located within a mile of the firm’s planned major mixed-use neighborhood near the future Herndon Metro Station.
Photo via handout/Town of Herndon
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