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Jessica Sabbath// April 5, 2016//
The JCR Cos. has acquired Signal Hill Shopping Center in Manassas for $22.6 million.
The 105,781-square-foot shopping center is located in the Liberia Avenue retail corridor and shares the Signal Hill Road intersection with a Walmart. Signal Hill’s tenants include Shoppers Food Warehouse, GameStop, Glory Days Grill, Panera Bread and Chick-fil-A.
Regency Centers was the seller, and Sandy Spring Bank provided acquisition financing.
JCR announced it has sold the Chick-fil-A pad to an undisclosed buyer for $2.25 million, also 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,” Joe Reger, principal of JCR, said in a statement. “We are aggressively seeking additional urban and suburban retail acquisitions in the Washington, D.C. metropolitan area.”
Signal Hill is JCR’s seventh shopping center acquisition since 2012, and its 20th transaction since the firm was founded in 2009.
