The JCR Companies of Washington, DC has acquired Signal Hill Shopping Center in Manassas, VA for $22.6 million in an off-market transaction. Regency Centers was the seller; Sandy Spring Bank provided acquisition financing.
This 105,781 square foot grocery-anchored shopping center enjoys a highly visible location along the vibrant Liberia Avenue retail corridor, sharing the Signal Hill Road intersection with a high-volume Walmart Supercenter. Signal Hill’s synergistic mix of dynamic tenants includes Shoppers Food Warehouse, GameStop, Glory Days Grill, Panera Bread, and Chick-Fil-A. JCR has sold the Chick-Fil-A pad to an undisclosed buyer for $2.25 million in an off-market transaction.
“We are thrilled to add another grocery-anchored shopping center to our portfolio and we are very bullish on the long-term strength of the Liberia Avenue corridor,” said Joe Reger, Principal, The JCR Companies. “We are aggressively seeking additional urban and suburban retail acquisitions in the Washington, DC metropolitan area.”
Signal Hill is JCR’s seventh shopping center acquisition since 2012, and its 20th transaction since the firm was founded in 2009.
Washington, DC-based JCR continues to be 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 http://jcrcompanies.com/.