Washington, DC – The JCR Companies of Washington, DC has acquired Krispy Korner Shopping Center in Alexandria, VA for $6.7 million. The center, which formerly housed a Krispy Kreme doughnut bakery, is located at 6328 Richmond Highway (US-1) on one of the metro area’s busiest retail corridors. Over 1,000 residential units are planned or under construction within two miles, all within close proximity to the Huntingdon Metrorail station.
Krispy Korner is JCR’s tenth shopping center acquisition since 2012 and its second for 2018. “As we continue the aggressive expansion of our retail portfolio in the greater Washington, DC market, we hope to expand into other major markets across the country,” said JCR Principal Joe Reger, adding that the firm recently acquired and recapitalized 11 individual retail assets in Florida, Oregon, and Pennsylvania.
“We have achieved great success with necessity-based retail in both urban and suburban markets,” Reger continued. JCR is targeting grocery- or shadow-anchored shopping centers, as well as un-anchored centers, with pad sites that can be redeveloped or sold, he noted.
Washington, DC-based JCR is one of the most prolific buyers of urban and suburban retail and mixed-use properties in the national capital region. JCR’s growing portfolio focuses on the area’s core submarkets including Dupont Circle, Logan Circle, Capitol Hill, Old Town Alexandria, Georgetown, and several fast-growing suburbs. For more information, visit the company’s newly revamped website at www.jcrcompanies.com.