Greenwald, who will serve a two-year term as president, has served on the district's board of directors since 2006. Penzance has owned 1500 Wilson Blvd. since 2006 and this year acquired 1555 Wilson Blvd.
"The transactional activity and the confidence of the investment community in Rosslyn signals its continuing and expanding preeminence in the metropolitan Washington region," Greenwald said in a statement.
"This means that the revisions to the Rosslyn Sector Plan and the acclaim lauded on Artisphere, Arlington’s new arts and cultural center located in Rosslyn, are all the more exciting, and makes my role rich with opportunity, challenge and potential."
The Rosslyn Business Improvement District is funded by a special tax levied on property owners in the 17-block commercial core of Rosslyn.
It works to grow and maintain the bustling urban village in a variety of ways, from providing services for the homeless and supporting public transit to marketing and promoting new development.