WASHINGTON, DC—The JCR Cos. has acquired two infill properties in the area totaling 50,000 square feet. The two purchases are 950 N. Washington St. in Alexandria, VA, and portion of the retail and commercial garage at The Metropole, a condominium in DC's Logan Circle neighborhood.

The company is targeting urban infill office buildings in the DC area, ranging from 20,000 to 50,000 square feet, according to Joe Reger, managing partner of The JCR Cos. These are a value-add plays as the properties will ideally have significant vacancies, he says. In addition, the company is about to make a similar acquisition in Maryland and hopes to make a number of others as well this year.

950 N. Washington St. in Alexandria was acquired with CAS Riegler Cos. and RS Snead Construction. It is a 26,347 square foot office that has been vacant since the American Association of Physician Assistants moved its headquarters to the Carlyle submarket in 2011. The buyers paid $4.5 million for the property, which is located close to Old Town.

"We are immediately starting a significant renovation to convert this marquee building to a unique mixture of executive suite offices and co-working space," Reger says in a prepared statement. This is the fourth asset the company owns in the Old Town Alexandria submarket.

Cardinal Bank provided financing for the acquisition. NAI KLNB represented the buyer while Avison Young represented the seller. Lancaster Architects is overseeing the design for the building's renovation.

The acquisition of the Logan Circle condo happened a few days later. It is a 23,225 square foot retail condominium, fully occupied by Vida Fitness and Bang Salon, and the commercial portion two levels of the building's underground parking garage. JCR owns six other properties in this submarket and is planning a long-term hold.

The $6.3 million acquisition was financed by Eagle Bank. The seller was American Realty Advisors and was represented by CBRE.

JCR now owns 16 properties in the area.