JCR ACQUIRES OFFICE, RETAIL ASSETS IN METRO D.C. FOR $10.8M

WASHINGTON, D.C. — The JCR Cos. has acquired two properties in Washington, D.C., and Alexandria, Va., totaling nearly 50,000 square feet. JCR purchased a vacant 26,347-square-foot office building, located at 950 N. Washington St. in Alexandria, for $4.5 million. JCR purchased the asset, which has been vacant since 2011, from the American Association of Physician Assistants. Cardinal Bank provided acquisition financing for the transaction. NAI KLNB represented JCR, and Avison Young represented the seller. Lancaster Architects is overseeing the design for the building’s renovation. JCR also purchased a retail condominium and a two-level commercial underground parking garage at The Metropole in Washington, D.C.’s Logan Circle neighborhood. The 23,225-square-foot condominium houses Vida Fitness and Bang Salon. Eagle Bank financed JCR’s $6.3 million purchase. CBRE represented the seller, American Realty Advisors.